Marijuana Business Magazine May-June 2020

Marijuana Business Magazine | May-June 2020 66 D oing good can be good for business. Extending a hand (or maybe an elbow bump) to one’s customers and communities during a global crisis such as the coronavirus pandemic not only helps those in need but might also boost a company’s reputa- tion—and even its bottom line. For North American cannabis companies, that has meant producing and donating hand sanitizer, bankrolling sanitation stations and donating personal protection equipment to health-care workers and first responders, among other steps. It’s a strategy that mainstream companies—ranging from craft distillers to The Gap—also are pursuing in response to the coronavirus pandemic. Industry executives and experts on corporate giving say charitable initiatives can result in enhancing brand image, attracting and retaining employees, generating positive publicity and strengthening company culture. Charitable actions can generate other benefits, too. They include: • Building partnerships with local government and community organizations. • Bolstering competitiveness. • Establishing trust among millennials and members of Generation Z— both key demographics for the cannabis industry. According to a 2019 Deloitte survey, both age groups reward businesses that “take visible and vocal stances that assume responsibility for delivering societal impact” with brand loyalty. North American cannabis companies stepped forward during the coronavirus pandemic and extended aid to the local community. What follows are examples of those actions. Booster Shot Cannabis companies donate hand sanitizer, face masks and more to help stop the spread of the coronavirus Harbor Hemp Co. manufactured and delivered hand sanitizer to first responders in Coventry, Connecticut. Courtesy Photo By Celene Adams Pandemic Pivot