Business
Sugarmade CEO: The On-Demand Economy is Headed to the Cannabis Sector - It’s Where We Want to Play
Sugarmade CEO: The On-Demand Economy is Headed to the Cannabis Sector - It’s Where We Want to Play.
About this update from Sugarmade, Inc.
[{"type":"text","content":"\n NEW YORK, Jan. 29, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – Sugarmade, Inc. (OTCQB:SGMD) (“Sugarmade”, “SGMD”, or the “Company”), today announces a new and bold shift in its business strategy toward the virtualization of the cannabis sector as part of the major shift in the U.S. business model toward an on-demand economy. Sugarmade will be making several strategic moves over the coming weeks as it launches on-demand and related business operations via internally developed initiatives and via new relationships with proven sector business operators. The on-demand economy is shifting power from business toward consumers, who are increasingly demanding goods and services on their own terms with a growing expectation for near-term gratification. No longer are consumers reliant on the traditional supply chain model, but instead are able to order numerous products and services with delivery in a matter of hours. This desire for instant access to products and services is now reaching the regulated cannabis market sector and many expect the sector to never be the same. In a radical shift in its business model, Sugarmade will be part of the on-demand revolution sweeping the regulated cannabis industry. “Things are changing in society and in the economy as virtualization proliferates. Many of the most dynamic and innovative growth companies are part of this on-demand revolution and it is our goal to ensure Sugarmade is an important component of these trends. We see the acceleration of on-demand services within the cannabis sector and we believe it is the most lucrative area for us to pursue,” commented Jimmy Chan, CEO of Sugarmade. “We have radically changed our business model via internally developed initiatives and through upcoming relationships with established sector participants. Our investors should stay tuned for our new business model to develop over the coming weeks.” For the past year, Sugarmade has observed numerous changes in the cannabis industry, many of which have been painful for sector participants. Several subsectors have collapsed and the Company believes several others are headed into troubled waters. Sugarmade plans to capitalize on its observations and on its staff’s extensive industry contacts to evolve the corporate business operation to no...