shopify Archives - Green Market Report

Debra BorchardtSeptember 17, 2019

Leading e-commerce platform Shopify Inc. (NYSE:SHOP)(TSX:SHOP) has finally opened its internet doors to hemp-derived Cannabidiol or CBD. The company announced new features on its platform to help U.S. merchants sell these products online or in brick-and-mortar retail locations, as long as that state permits such sales.

“Shopify has unmatched expertise in emerging industries, along with the resources merchants need to be successful in the fast-growing market of hemp-derived CBD products in the U.S.,” said Harley Finkelstein, Chief Operating Officer, Shopify. “Shopify’s reliable technology and extensive partner network means that businesses can ride the wave of demand for these products and give consumers more choice.”

Shopify mentioned two CBD companies in the press release. Josie Maran and Cannuka will be able to sell hemp-derived CBD products as a result of the new features.. “This is an exciting time for the CBD skincare industry. Consumers are eager to connect with us and try our Skin Dope products. Until recently, we didn’t have a simple solution to manage and sell our CBD Oil and Hemp Seed Oil assortment online,” said Roger Wason, Director of eCommerce for Josie Maran Cosmetics. “Shopify has helped us focus more on our relationships with our consumers and growing our business.”

Pixel Union is a company that has been working with CBD merchants and note don its website that even though Shopify has now opened its doors, that doesn’t mean the payment systems are all available as well. “Shopify merchants still cannot use Shopify payment gateways, however, the e-commerce leader has partnered with Authorize.net, DigiPay, and eMerchant Brokers to provide seamless payment gateways for merchants to use.”

“In the last decade, e-commerce has grown 15% every year, yet it only represents 10% of total retail sales in the US. Pair that with legal CBD related products in the US being valued at $14.7 billion in 2019 and access to a proven platform like Shopify, I’m predicting unprecedented growth in 2020. We look forward to working alongside Shopify in helping merchants sell more,” says Pixel Union CEO, Ben Moore.

William SumnerJuly 16, 2018

Aurora Cannabis Inc. (ACBFF) has joined a growing number of cannabis companies working with the Canadian e-commerce platform Shopify. Today, Aurora announced that it had reached an agreement with Shopify to leverage the e-commerce site’s platform to assist in distributing Aurora’s medical and recreational cannabis globally.

Under the agreement, Shopify will work closely with Aurora’s software engineering team to help transition Aurora’s current e-commerce site to a new platform developed by Shopify; a move which both companies believe will help improve customer experience.

“Selecting Shopify allows Aurora to bring a world-class e-commerce solution to our patients and future adult consumer use customers,” said Darryl Vleeming, CIO of Aurora Cannabis Inc. “Shopify’s unique, industry-leading platform provides a safe, secure and flexible e-commerce site that we can build on as we execute our global growth initiatives and enter new markets.”

This recent agreement is not Shopify’s first foray into legal cannabis. At the beginning of the year, Shopify announced that it would partner with the provincial government of Ontario to manage recreational sales of cannabis through both its online platform and point-of-sale technology.

The company also secured an agreement with The Hydropothecary Corporation (THCX) to build its to build its e-commerce platform. Shopify’s CEO Tobi Lutke and COO Harley Finkelstein were also named among a handful of investors in the Toronto-based cannabis media and tech company, Herb back in October 2017.

“While both companies originate in Canada, this is a true global success story, combining our industry-leading technology, helping to power the international expansion of one of the global leaders in the exciting and rapidly growing cannabis industry,” added Shopify VP Loren Padelford. “The Shopify platform will allow Aurora to provide a tailored customer experience that embraces and adapts to the unique demands of both consumers and regulators, adapted to the specific needs of the various jurisdictions in which Aurora operates.”