Industry-leading software development and technology company, CannaOne Technologies Inc. (CSE:CNNA) (OTC:CNONF), has highlighted some exciting updates for its proprietary online marketplace software developed for the cannabis industry.
After three years of in-house development, the company has launched Bloomkit, its signature versatile, customizable, e-commerce software suite. Blooomkit has the ability to support multiple online marketplaces across a variety of jurisdictions and can significantly help cannabis retail companies engage and retain cannabis consumers.
The launch of Bloomkit also provides CannaOne with first-mover advantage in the emerging market for cannabis-focused online marketplaces.
In a press release, Mr. Riby-Williams, CEO of CannaOne Technologies, said that his company is constantly "developing, testing, and optimizing" its technology to provide the best e-commerce cannabis solutions for the industry.
"We remain certain that e-commerce and online marketplaces are the most ideal outlet for cannabis sales, and being amongst the first in this space ideally positions us for growth," he added.
CannaOne Technologies is Preparing for the Future of Cannabis with Bloomkit
CannaOne's Bloomkit software can complete sales, process payments, fulfill orders, and can even deliver products to the doors of consumers across the United States. It has been developed for both the CBD and THC markets, with additional focus on the collection and implementation of consumer and product data insights and analytics.
Forecasting the implementation of "Big Data" to drive the cannabis industry, CannaOne is using both artificial intelligence and machine learning to provide key data to its partners. This data can create detailed customer profiles to help companies predict shopping tendencies, manage inventories, and even anticipate industry demand.
At the same time, CannaOne will ultimately retain ownership of the data it gathers so that the information remains proprietary to Bloomkit. Ultimately, the software can continue to analyze this data in order to provide a completely customized shopping experience for cannabis consumers.
Vice President of Product Development for CannaOne Technologies, Mr. Dominic Stann, echoes Mr. Riby-Williams's statement about the value of e-commerce technology for the cannabis sector.
"Using unique, in-depth market knowledge and a ground-up, specific market and application focus, BloomKit can be implemented with a customized fulfillment and payment processing element to ensure best-in-the-industry times to market."
In addition to optimizing the cannabis retail experience, Bloomkit was designed to offer its users an objective education about cannabis. By informing people, the software is assisting in the development of a community of knowledgeable—and ultimately, engaged—consumers.
Bloomkit's First Marketplace is Already Delivering Results
CannaOne launched its first Bloomkit-powered online marketplace—the BWell Market—on June 24. BWell enables CBD sales in the US via an intuitive, informative, and easy-to-use customer interface.
At the time of launch, BWell already boasted 11,000 sign-ups. These customers can peruse an online catalog containing 100 individual CBD products from a variety of companies. The online marketplace also offers reward programs that encourage loyalty, customer retention, and help build a CBD-centric community.
The site was launched through a collaboration with Real Health, a California-based CBD company. In order to strengthen its position as a leading provider of e-commerce cannabis solutions, CannaOne entered into a letter of intent on September 4 to completely acquire Real Life Sciences. This will also give the company total ownership of the BWell Market.
According to leading cannabis researchers BDS Analytics and Arcview Market Research, US sales of CBD will surpass $20 billion by 2024. This positions BWell at the head of a lucrative and largely untapped revenue stream in a huge market. And because CannaOne's e-commerce platform can be scaled to enable the sales of other cannabis-derived products, the company is well-positioned to capitalize off of the ever-growing cannabis boom.
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