Shopify Expands its Cannabis eCommerce Platform into U.S. CBD Industry


Shopify Inc. is introducing new characteristics for U.S. retailers of hemp and CBD, expanding its cannabis e-commerce platform south of the border.

The Ottawa-primarily based firm plans to give tools which includes on the internet retailer design and style, payment, shipping and advertising and marketing in much more than 40 states to merchants of hemp-derived cannabidiol, which was legalized in December and is located in almost everything from skin creams to snacks.

“We are not truly obtaining into the CBD small business, CBD is obtaining into the retail small business,” Loren Padelford, vice president and common manager of Shopify Plus, stated in a telephone interview ahead of the announcement.

Shopify’s platform is currently broadly utilised for on the internet sales of recreational cannabis in Canada, exactly where the drug was legalized 11 months ago. Government-run internet websites in numerous provinces which includes Ontario and British Columbia, as effectively as private businesses like Canopy Development Corp., Aurora Cannabis Inc. and Hexo Corp., use Shopify’s point-of-sale program.

Padelford declined to say how large the cannabis small business could develop into for Shopify, but cited a current forecast from BDS Analytics and Arcview Industry Analysis that the U.S. CBD industry could be worth US$20 billion by 2024.

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Published: September 17, 2019

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