California Cannabis Co. Launches TikTok Shop, Wants A Share Of Billion-Dollar Marketplace
California-based cannabis producer and distributor Rodedawg International Industries, Inc. (OTC:RWGI), announced Wednesday that it has launched of its own TikTok Shop. The move came nearly two years after the company acquired Tree Moguls, a premium cannabis lifestyle brand based in Southern California.
Why It Matters
The company said the move is aimed at leveraging the e-commerce potential of TikTok, considering that it has over one billion active users worldwide. An analyst from Statista now predicts that e-commerce sales on TikTok Shop are projected to reach $11 billion by the end of 2024, the company said in a press release.
Rodedawg looks to expand its market reach which is planned to increase sales of its product lines.
The initial product offering is the all-natural Elixicure Topical Pain Relief cream.