I’d been talking to Kevin Goldsmith about the article we published yesterday on installing AV in cannabis dispensaries essentially since Colorado voted to legalize marijuana a few years ago.
I knew for a while PingHD was installing menu boards in weed shops, but Goldsmith was hesitant to talk about it for a while. He worried it would make his company look like they were seeking out this kind of client and that his other clients might wonder about PingHD’s business model and their future.
I’m glad I finally convinced him to talk about this segment of his ever-expanding business and some of the unique challenges that come with working with a client who isn’t allowed to open a bank account because the business itself violates federal law, even though it’s legal under state law.
I didn’t know until I interviewed Goldsmith that the first weed shop client for PingHD brought the deposit into his office in cash and in a large brown envelope, but that hook made me excited about the story. I was even more excited that we remembered to post it on April 20 (if you don’t get the meaning of that date, ask someone).
It’s interesting to me Goldsmith says installing menu boards in cannabis dispensaries hasn’t really taken off for PingHD based on how quickly demand for certain products and supply of those best-sellers must change, almost from minute-to-minute. It does sound like he’ll pursue more weed shop installs soon, though, and the timing couldn’t be better for PingHD and other integrators who want to join them.
Maine, Massachusetts, Nevada and California voted to legalize recreational marijuana for adult use in November, meaning there are now eight states plus our nation’s capital where it’s legal. In addition, there are 28 states in which medical marijuana is legal and more are exploring some form of legalization or decriminalization. Canada has introduced legislation to legalize marijuana across the country next year too, so this could mean international growth of digital menu boards in cannabis dispensaries.
So while we certainly had fun with the idea of writing about installing AV in weed shops, the idea shouldn’t be dismissed just because it’s probably not something most Baby Boomers in corner offices do anymore. (Here we go again, making sweeping generalizations about groups of people, right?)
The marijuana industry could be worth $50 billion (yes, that’s a B) by 2026. While it’s certainly fashionable and maybe even easy to generalize about people who smoke weed and their various characteristics and traits, would you turn your back on the corporate, education or government markets if you heard they were going to be worth $50 billion inside the next decade?