For this week’s Power Players interview I spoke to Ryan G. Smith, CEO of wholesale marketplace LeafLink. LeafLink facilitates more than $175M in transactions monthly across 25 states, accounting for roughly 20% of the legal U.S. market.
We talked about the pandemic, when he’ll take LeafLink public and why he thinks brick and mortar dispensaries will be around for a while.
A few highlights:
On the industry’s ongoing strength:
[Business] has bounced back in an even stronger way. Sales continue to be higher than even we projected heading into and through 420. Now we’re seeing a lot of reordering post 420 as people restock their shelves.
On the industry maturing:
People are beginning to, basically, create margin through heavy branding. That’s great for the industry because it shows we’re mainstreaming. I think it’s also a reflection of some of the people entering the space from Kraft, and Starbucks and the liquor [industry].
On curbside pickup:
What could be interesting is whether regulators and governors will be able to keep it temporary. Once people have experienced the convenience of that, the simplicity, efficiency of purchasing in that way, it will become a more common theme.