Uber will allow users in Ontario, Canada, to order marijuana on its Uber Eats app, marking the ride-hailing giant’s foray into the booming business, a company spokesperson said. said Monday.
Uber Eats The spokesperson said it will list cannabis retailer Tokyo Smoke on its marketplace on Monday, after which customers can order it from the Uber Eats app and then pick it up at their nearest Tokyo Smoke store. them, the spokesman said.
Uber, had alcohol delivery through its Eats unit, has been looking into the burgeoning cannabis market for some time. Its CEO Dara Khosrowshahi told media in April that the company would consider delivering cannabis when the legal coast is clear in the United States.
With more than three years to Canada legalizing recreational marijuana, the country is trying to fix its ailing cannabis market, where illicit producers still control a large portion of total annual sales.
The partnership will help Canadian adults buy safe, legal marijuana, helping to combat the underground illicit market that still accounts for more than 40% of all non-medical marijuana sales nationwide, Uber said on Wednesday. Two.
Global cannabis stock tracker MJ ETF was up 2%, while shares of Uber were up 1.2% at $44.78 (about Rs 3,330) in pre-market trading.
Cannabis sales in Canada will total $4 billion (approximately Rs 29,785) in 2021 and are forecast to grow to $6.7 billion (approximately Rs 49,890) by 2026, according to data from the research firm. BDS Analytics industry.
When asked about the possibility of expanding to other Canadian provinces, or in the United States, an Uber spokesperson said there was “nothing more to share at the moment”.
An Uber spokesperson told Reuters: “We will continue to closely monitor regulations and market-based opportunities. And as local and federal legislation evolves, we will explore opportunities with these opportunities. sellers operating in other regions”.
Last year, tighter bans caused by the pandemic boosted demand for cannabis-related products from customers stuck at home with limited entertainment options.
© Thomson Reuters 2021
