VANCOUVER: PeakBirch Logic Inc. announced its expansion into the Canadian market. PeakBirch will offer Canadian consumers access to premium selections of vaporizer, glass, and accessory brands through its existing network of relationships and distribution outlets.
Canada legalized the sale and consumption of adult-use cannabis in 2018 and has since become a fast-growing market.
Canadians spent approximately $244.9 million on cannabis and cannabis products in August 2020, a 5.2-per-cent increase from the previous month, with every province and territory posting monthly sales gains for the third straight period, as reported by the Government of Canada based on data it collects from the Canadian Cannabis Tracking System.
This represents a year over year increase of approximately $125 million from 2019. PeakBirch is well positioned to take advantage of this rapid growth through its established network of e-commerce stores and brands.
“We are excited about entering into the Canadian market and are well positioned to make significant in roads and offer a competitive product through our existing network of sites. We strategically timed our entry into the Canadian market to coincide with the start of the holiday shopping season to maximize both revenue growth and market penetration. We see the Canadian market as a first step into expanding into other international markets,” says Marc Mulvaney, CEO of PeakBirch.
In addition to expanding internationally, the US took another step forward in legalizing cannabis. In November of 2020, U.S. voters of several states have approved ballot measures to legalize recreational cannabis in Arizona and New Jersey, and both recreational and medical use in South Dakota.
“There’s a lot of potential in the US cannabis market and we are investing heavily into expanding our competitive edge over competitors through better use and integration of technologies such as geo-targeting, SAAS solutions, and fulfilment driven by algorithmic logic,” says Marc Mulvaney, CEO of PeakBirch.
“This will ensure that we continue to operate in a profitable and sustainable manner.”
PeakBirch Logic specializes in expanding the online presence and revenue streams of niche e-commerce websites with established domain authority and a track record of sustainability. The Company’s executive team have several decades of combined, hands-on experience growing retail brands within the cannabis industry.
PeakBirch is a cohesive ecommerce technology group scaling multiple online businesses to become internationally successful brands. With a strong focus on consumer journey, deep analytics and AI powered trend analysis Peakbirch unlocks the true growth potential of customer-centric brands by providing revenue acceleration with customer experience optimization via a lean platform.
Through a combination of the latest digital best practices and a proven team, Peakbirch Logic is committed to generating significant and sustained return on investor capital over the long-term.
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