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<ul><li>A few sellers have sent the company a legal notice demanding their <keyword id="6359540" type="PERSON" weightage="20" keywordseo="payments">payments</keyword> to be released. </li><li>Recently, the All India Online Vendors Association (AIOVA) had also formally complained to the Reserve Bank of India regarding the suspension of payments from <keyword id="6016374" type="UNKNOWN" weightage="20" keywordseo="Club-Factory">Club Factory</keyword>.</li><li>Club Factory was one of the <keyword id="6022999" type="UNKNOWN" weightage="20" keywordseo="chinese-apps">Chinese apps</keyword> to be banned by the Indian government in June.</li></ul>Chinese e-commerce platform Club Factory, which was one of the apps banned by the Indian government in June, has been in trouble with its sellers in India over the suspension of payments. And now, a few sellers have sent the company a legal notice demanding that their payments be released. In the legal notice, a copy of which Business Insider has viewed, four sellers have claimed payments worth over ₹2 crore. The legal team which sent the notice told Business Insider that Club Factory has been given 15 days to respond, clear the dues or fight the case. Club Factory has not yet responded to Business Insider’s emails. Recently, the All India Online Vendors Association (AIOVA) has also formally <a href="https://tech.economictimes.indiatimes.com/news/internet/online-sellers-lobby-approaches-rbi-over-non-payment-of-dues-by-club-factory/77527022">complained</a> to the Reserve Bank of India saying that the Chinese e-commerce platform has violated Section 28 of the Payments and Settlements Act, 2007. “The last tranche of payments are pending from Club Factory’s side. They told us they are keeping the payments on hold until the ban is lifted,” a seller told Business Insider, whose pending payments with the company run into lakhs. Days after the ban by the Indian government, reports showed that <a href="https://entrackr.com/2020/07/club-factory-under-scanner-for-possible-gst-violations/#:~:text=Despite%20the%20Indian%20government's%20ban,continued%20to%20run%20its%20operations.&amp;text=Post%20the%20ban%20announced%20last,stop%20working%20with%20Club%20Factory.">Club Factory</a> had continued to operate with cash on delivery options. However, on July 13, the sellers got an email from Club Factory that the company will not be releasing their payments until the ban is lifted, evoking the force majeure clause. Not just that, sellers are also worried about the deposits kept with Club Factory in the form of an escrow account, from where the platform used to release money in parts. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/heres-how-reliance-retail-stacks-up-against-some-of-its-global-peers-walmart-and-tesco/articleshow/77646302.cms">Here’s how Reliance Retail stacks up against some of its global peers – Walmart and Tesco</a> <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms">With Reliance buying Netmeds and PharmEasy merging with MedLife, Amazon and Flipkart are in for a tougher competition than they would like</a>

Club Factory’s India sellers send legal notice to the e-commerce platform over non-payment of dues

<ul><li>E-commerce app <keyword id="6016374" type="UNKNOWN" weightage="20" keywordseo="Club-Factory">Club Factory</keyword> was one of the 59 <keyword id="6022999" type="UNKNOWN" weightage="20" keywordseo="chinese-apps">Chinese apps</keyword> banned by the Indian government.</li><li>The sellers recently got an email from Club Factory that the company will not be releasing their payments until the ban is lifted.</li><li>Sellers are even more worried because in their experience every communication with Club Factory takes a long time, because the company always says all their representatives sit out of China.</li></ul>E-commerce app Club Factory was one of the 59 Chinese apps banned by the Indian government. The pending orders and payments for the sellers on their platform is now stuck. “The last tranche of payments are pending from Club Factory’s side. They told us they are keeping the payments on hold until the ban is lifted,” a seller told Business Insider, whose pending payments with the company run into lakhs. The sellers recently got an email from Club Factory on July 13 that the company will not be releasing their payments until the ban is lifted, evoking the force majeure clause. Not just that, sellers are also worried about the deposits kept with Club Factory in the form of an escrow account, from where the platform used to release money in parts. On Thursday, All India Online Vendors Association (AIOVA) sent a legal notice to the company for non-payment of dues. "Marketplaces are bound by RBI directives to keep money collected on sellers behalf in escrow. No force majeure can be applied to escrow. In case of non-compliance we shall be forced to go to court against this misconduct,” an AIOVA spokesperson told <a href="https://www.cnbctv18.com/retail/chinese-e-tailer-club-factory-gets-legal-notice-from-seller-body-over-payment-default-6342471.htm#:~:text=E%2Dcommerce%20platform%20Club%20Factory,to%20sellers%20on%20its%20platforms.&amp;text=The%20legal%20notice%20was%20sent,India%20Private%20Ltd%20on%20Thursday.">CNBC TV18.</a> Sellers are even more worried because, in their experience, Club Factory takes a long time to respond. The usual reason cited by the officials is that all their representatives sit out of China. “Even when everything was fine, if we had to reach out to them for anything, the communication would take ages because they would always respond that authorities are in China,” said the seller. Club Factory is also currently under the scanner for alleged tax violations. According to <a href="https://entrackr.com/2020/07/club-factory-under-scanner-for-possible-gst-violations/">reports</a>, its offices in India were searched by Directorate General of Goods and Service Tax Intelligence officials, along with the offices of logistics companies hired by Club Factory – Delhivery, XpressBees &amp; EComm Express. SEE ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-gave-google-and-facebook-a-discount-on-reliance-jio-stake-heres-why/articleshow/77032126.cms">Mukesh Ambani gave Google and Facebook a discount on Reliance Jio stake ⁠— here’s why</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-q1-earnings-bad-loans-and-moratorium/articleshow/77033494.cms">HDFC Bank is mum on the loans under moratorium⁠— profit jumps 20%, provision for bad loans spike 49%</a>

Club Factory leaves its sellers in India in a lurch – puts payments worth lakhs on hold

New Delhi, Jan 24 () E-commerce firm Club Factory on Friday said it has surpassed 100 million monthly active users in India along with four-fold surge in orders in 2019.
 The company looks to increase local sellers on its platform to 1 lakh by the end of this year from 30,000 in December 2019.
 "Club Factory has surpassed 100 million monthly active users (MAUs) in India following a strong surge in user adoption across the country. Club Factory has witnessed a sharp rise in traffic, clocking in 4 times growth in orders received in 2019 on the platform as compared to the previous year," the company said in a statement.
 To expand vendor base in India, the company does not charge any commission from the sellers.
 The development of local vendor base has helped the company in reducing product delivery and return time, Club Factory founder and CEO Vincent Lou said.
 "With our investment and efforts to enhance the user experience, we have managed to reduce delivery time by as much as 30 per cent with average positive product rating going up by 40 per cent in 2019. Returns or product exchange on the platform have dropped by almost 25 per cent," he said.
 It has received traction from tier-II and III cities located in Uttar Pradesh, Telangana and Bihar, according to the statement. PRS MR
MR

Club Factory crosses 100 mn monthly active users in India

New Delhi, To incubate startups, <keyword id="44717" type="ORGANIZATION" weightage="20" keywordseo="Automobile">automobile</keyword> <keyword id="9791794" type="UNKNOWN" weightage="20" keywordseo="major-maruti-suzuki-india">major Maruti Suzuki India</keyword> has tied up with <keyword id="1394548" type="COMPANY" weightage="20" keywordseo="The-Indian-Institute-of-Management">the Indian Institute of Management</keyword>, Bangalore (IIMB). Accordingly, this partnership will help startups working in technology-based innovations that can be applied in the mobility sector. "The collaboration marks first-of-its kind initiative by an automobile manufacturing company to help early-stage startups become large scale businesses," the company said in a statement on Thursday. "This will be a 3-month (pre-incubation) and 6-month (incubation) engagement. <keyword id="44883" type="DOMAIN" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> has launched MAIL (<keyword id="9791181" type="COMPANY" weightage="20" keywordseo="mobility-and-automobile-innovation-lab">Mobility and Automobile Innovation Lab</keyword>) in January 2019, which supports startups by co-creating innovative business solutions in the mobility space." According to the company, the futuristic solutions being developed under the MAIL initiative have a positive impact on Maruti Suzuki's business. "These solutions help to efficiently bring in technological advancements relevant to automobile business," the statement said. "To expand the collaboration with startups, Maruti Suzuki now plans to engage with IIMB to incubate startups in the area of mobility." SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/club-factory-india-sellers-send-legal-notice-to-the-e-commerce-platform-over-non-payment-of-dues/articleshow/77650828.cms" data-type="tilCustomLink">Club Factory’s India sellers send legal notice to the e-commerce platform over non-payment of dues</a> <a href="https://www.businessinsider.in/india/news/supreme-court-rejects-prashant-bhushans-plea-to-delay-sentence-hearing-on-twitter-case/articleshow/77649463.cms" data-type="tilCustomLink">Prashant Bhushan rejects Supreme Court's offer to delay sentence but is given two to three days to reconsider statement</a>

Maruti Suzuki partners with IIM Bangalore to incubate mobility startups

<ul><li>Flipkart Internet, which handles the e-commerce arm of the company, saw a 40% rise in losses adding up to ₹1,624 crore.</li><li>Amazon India’s e-commerce vertical – Amazon Seller Services saw a 9.5% decrease in losses to ₹5,685 crore.</li><li>Amazon Pay saw its losses grow by 24.7%.</li></ul>The e-commerce giants in India – Flipkart and Amazon, have both posted massive losses for the financial year ending March 2019. The report card Flipkart Internet, which handles the e-commerce arm of the company, <a href="https://www.livemint.com/companies/company-results/flipkart-s-net-loss-rises-86-to-rs-3-837-cr-in-2018-19-11572290528106.html">saw </a>its losses widen by 40% to ₹1,624 crore. However, its operating revenues grew by 51% to ₹4,234 crore. That’s not all, Flipkart’s net loss also expanded by a whopping 86% to ₹3,837 crore. Meanwhile, Amazon India’s e-commerce vertical – Amazon Seller Services saw a dip in its losses which came in lower by 9.5% dip at ₹5,685 crore. Amazon’s revenues also grew by 55% to ₹7,778 crore. Its total losses in India crossed the ₹7,000 crore mark. Another blow to Amazon came with its payment arm – <a href="https://www.livemint.com/companies/company-results/amazon-india-s-e-commerce-arm-narrows-fy19-loss-to-rs-5-685-cr-11572291190455.html">Amazon Pay</a> which too posted record losses. It posted a to ₹1,160.8 crore loss which was 24.7% more than its previous fiscal’s loss. Continued investment, despite losses Amazon and Flipkart put together hold about 80% of India’s e-commerce share. So, even with the losses mounting, the two companies continue to fight it out in the market with sales and discounts. In the run up to the festive season, Amazon hit 344 million visits, Flipkart and Myntra combined had 314 million visits in September. Amazon and Flipkart individually had over twice the number of visits than that of Snapdeal, Club Factory, Shopclues, Tata Cliq and Paytm Mall combined.

Flipkart and Amazon are selling more but losing even more

A <keyword id="8940160" type="UNKNOWN" weightage="20" keywordseo="complete-lockdown">complete lockdown</keyword> has been imposed in Karnataka's <keyword id="140842" type="LOCATION" weightage="20" keywordseo="Kodagu-district">Kodagu district</keyword> on two weekends (Saturday and Sunday) of this month in view of the recent surge in COVID-19 cases, an official said on Saturday. "Rising Covid cases, including deaths have forced the administration to declare complete lockdown across the district on this weekend and next weekend (July 25-26) to contain the deadly virus," an official told IANS on phone from Madikeri. Kodagu is about 240km southwest of Bengaluru in the southern state. "Only shops selling milk, vegetables, fruits, groceries, medicines and other essentials will be open for three hours from 6-9am across the district to allow people to buy their daily needs," said the official. Except personnel on duty and those involved in essential services, movement of people and vehicles will not be allowed to prevent crowding and violating lockdown guidelines like social distancing. "As state-run and private buses will not operate during the weekend, people will not be allowed to commute on their personal vehicles except in emergency," said the official. Pre-scheduled marriages are allowed with the permission of local bodies, as per lockdown guidelines, which stipulate restricting guests to 50 people only. New containment zones have been notified in Bhagavathi Nagar, Chowdeshwari Nagar, Mahdevpet and Hebbattageri in the district. With 10 new cases on Saturday, the district's Covid tally increased to 259, including 140 active after 114 were discharged, while 5 succumbed to the infection so far. In a related development, the district Brahmanara Sangha conducted aDhanavantri Yagna at Annapoorneshwari temple at Gandhinagar in Moornadu, seeking divine intervention to check the virus spread of the virus. Lockdown will also be observed on Sunday across the state, including in Bengaluru Urban and Rural, Dakshina Kannada, Dharwad and Kalaburagi districts, which are under lockdown for 7-9 days since Tuesday. With record 4,537 cases, the state's Covid tally shot up to 59,652 on Saturday including 36,631 active cases as 21,775 patients have been discharged after recoveries so far, with 1,018 in the day, while 1,240 have succumbed to the virus till date. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-q1-earnings-bad-loans-and-moratorium/articleshow/77033494.cms" data-type="tilCustomLink">HDFC Bank is mum on the loans under moratorium⁠— profit jumps 20%, provision for bad loans spike 49%</a> <a href="https://www.businessinsider.in/business/ecommerce/news/club-factory-leaves-its-sellers-in-india-in-a-lurch-puts-payments-worth-lakhs-on-hold/articleshow/77036384.cms" data-type="tilCustomLink">Club Factory leaves its sellers in India in a lurch – puts payments worth lakhs on hold</a>

Weekend lockdown imposed in Karnataka's Covid-hit Kodagu district

The DGCA has started a <keyword id="9791572" type="UNKNOWN" weightage="20" keywordseo="special-safety-audit">special safety audit</keyword> of all Indian airlines, around two weeks after the plane crash in Kerala's Kozhikode in which 18 people were killed, a senior official of the aviation regulator said on Thursday. "It will be a complete FOQA (<keyword id="7878913" type="UNKNOWN" weightage="20" keywordseo="Flight-operations-quality-assurance">Flight Operations Quality Assurance</keyword>) audit," he said. The FOQA is the process of obtaining and analysing all kinds of data from flights to improve the safety and efficiency of future flight operations. "All Indian airlines will undergo the special safety audit that has begun. In the first phase, we are auditing SpiceJet and Air India," the DGCA official said. The Directorate General of Civil Aviation (DGCA) has already initiated the special safety audit of all airports in India that receive heavy rain during the monsoon season, another official said. The announcement regarding the safety audit of such airports was done by the DGCA four days after the Kozhikode plane crash. The Airports Authority of India (AAI) manages more than 100 airports in the country, including the one in Kozhikode. However, major airports like Delhi, Mumbai, Bengaluru and Hyderabad are managed by private companies. On August 7, a B737NG aircraft of Air India Express with 190 people on board overshot the runway and crashed at the Kozhikode airport amid heavy rain, killing 18 people, including the pilots. Air India Express is a wholly owned subsidiary of national carrier Air India. The two leading pilot unions of Air India on August 13 had sought a meeting with Civil Aviation Minister Hardeep Singh Puri to discuss matters related to working conditions and flight safety. "Our pilots are constantly facing the challenges of COVID-19, monsoon weather, ill-designed flight duty time limitations (FDTL), several extensions and dispensations given by the DGCA (Directorate General of Civil Aviation)," stated the August 13 letter written to Puri by the Indian Commercial Pilots' Association (ICPA) and Indian Pilots' Guild (IPG). The two unions said they were writing on behalf of pilots of Air India and its subsidiaries Air India Express and Alliance Air. <keyword id="9285595" type="COMPANY" weightage="20" keywordseo="the-aircraft-accident-investigation-board">The Aircraft Accident Investigation Board</keyword> (AAIB) said on August 13 that it has formed a five-member panel headed by Captain S S Chahar, a former DGCA-designated examiner for pilots of B737NG aircraft, to inquire into the circumstances of Kozhikode plane crash. In a statement, the board had said, "The investigator-in-charge will complete its inquiry and submit the report to AAIB, India, preferably within five months from the date of the issue of this order." SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/eicher-motors-registers-first-ever-net-loss-of-55-crores-in-at-least-a-decade/articleshow/77526012.cms" data-type="tilCustomLink"> Eicher Motors registers first-ever net loss of ₹55 crore in at least a decade</a> <a href="https://www.businessinsider.in/business/ecommerce/news/club-factory-india-sellers-send-legal-notice-to-the-e-commerce-platform-over-non-payment-of-dues/articleshow/77650828.cms" data-type="tilCustomLink">Club Factory’s India sellers send legal notice to the e-commerce platform over non-payment of dues</a>

Civil aviation regulator DGCA to begin special safety audit of all Indian airlines after Kozhikode crash

57. Bacardi and the Long Fight for Cuba

AP Photo/Peter DejongThe coronavirus can be a downer for those wanting to get high in one of Amsterdam's world famous "coffee shops", a woman smokes a joint at coffee shop Prix d'Ami where clients are scanned for fever, one of the symptoms of a coronavirus infection, and are obliged to wash their hands, rear right, before being allowed to enter to roll a joint and smoke marijuana in Amsterdam, Netherlands, Friday, March 13, 2020<ul class="summary-list"><li>People are stockpiling pot as many cities order non-essential retail stores to close, in an effort to combat the <a href="https://www.businessinsider.com/category/coronavirus">coronavirus pandemic</a>.</li><li>Despite strong sales numbers, investors, experts, and analysts told Business Insider that the fallout from the coronavirus pandemic will be dire. They said that it will disrupt supply chains, hurt startups, and accelerate a shakeout period for <a href="https://www.businessinsider.com/category/cannabis">cannabis companies</a>.</li><li>Some investors say the companies that are best prepared to weather the chaos will emerge as the industry's leaders when the pandemic subsides.</li><li>Click here for more <a href="https://www.businessinsider.com/prime">BI Prime stories</a>.</li></ul>All around the world, there are pictures surfacing on social media of lines stretching around the block.Yes, there are lines at grocery stores and pharmacies - the essential survival needs during the pandemic-induced quarantine sweeping through major cities. But people from Toronto to San Francisco to Amsterdam are stockpiling another essential: marijuana.For the cannabis industry at large, however, investors, experts, and analysts Business Insider spoke to for this story said the fallout from the coronavirus pandemic will be dire, in that it will disrupt supply chains, hurt startups that don't have enough cash to weather the storm, and <a href="https://www.businessinsider.com/the-cannabis-bubble-burst-top-execs-expect-deals-investments-2019-12">accelerate a months-long shakeout period</a> that was already underway before the first coronavirus cases showed up in the US."Any predictability that was left in the cannabis industry has effectively gone up in smoke due to the potential health risks and disruption brought on by the novel coronavirus pandemic," Marc Hauser, a San Francisco-based attorney and the vice-chair of Reed Smith's Cannabis Law Team wrote in a note. "With the spread of the virus, affecting not just individuals, but capital markets, supply chains, and work environments as well, the already challenged US cannabis industry now faces even further risk of destabilization."Some analysts were even more pessimistic. Andrew Carter, a cannabis analyst at the investment bank Stifel said the coronavirus pandemic is likely to be a "crushing blow" for the industry.AP Photo/Steven SenneKevin Hart, front left, co-owner of Pure Oasis recreational marijuana shop, completes a sale of cannabis products to the stores first customer Niambe McIntosh, front right, moments after the store opened for the first time, Monday, March 9, 2020, in Boston.<h2>Is cannabis recession-proof? </h2>Still, the old saying that vice industries - historically speaking, gambling, alcohol, tobacco, and firearms - are <a href="https://www.businessinsider.com/the-jobs-that-will-grow-during-the-next-financial-recession-2019-9">recession-proof</a> seems to apply to legal cannabis's first big test. Cannabis dispensaries, both online and in-store, have seen record sales.Ross Lipson, the CEO of the Oregon-based online dispensary software startup Dutchie, told Business Insider he's had record sales over the past week, and that trend is showing no signs of stopping."Sales are just through the roof," Lipson told Business Insider. "We've seen an uptick across the board."Last Thursday - shortly after Trump declared a national emergency and a day after the World Health Organization officially deemed it a pandemic - sales started to spike "aggressively," he said.Dutchie blew out its sales records, setting an all-time record on Friday. That trend carried over through this past weekend, with the company's platform handling over 50,000 orders and $5 million of transactions.On top of that, Lipson said the stockpiling is real: The average cannabis purchase on Dutchie's platform is around $92 per customer. The average since Thursday is $115, a 20% increase.On Monday, Lipson texted Business Insider to say the company had broken a new record, with 20,000 orders and $2.2 million in sales. Sales climbed again on Tuesday, and set new records on Wednesday with 25,000 orders topping $3 million in sales."Every day this week we've seen an all-time daily record," Lipson said, adding that most of the orders are either online or through curbside pickup. While Lipson, who's based in Bend, Oregon, said the dispensaries he works with haven't yet felt the supply chain impact of the coronavirus-related shutdown, that could change quickly, depending on how long the shutdowns last.And that brings up a key question, says Lipson. While many adults use cannabis purely for recreational purposes, others rely on dispensaries for prescribed medicine."What's the classification here?" Lipson said. "Are dispensaries pharmacies? They're in their own little box."AP Photo/Peter DejongThe coronavirus can be a downer for those wanting to get high in one of Amsterdam's world famous "coffee shops", people queue to enter at coffee shop Prix d'Ami where clients are scanned for fever, one of the symptoms of a coronavirus infection, and are obliged to wash their hands before being allowed to enter to roll a joint and smoke marijuana in Amsterdam, Netherlands, Friday, March 13, 2020.<h2>Contact-less deliveries, hand sanitizer, and latex gloves </h2>On that front, San Francisco on Tuesday <a href="https://www.businessinsider.com/san-francisco-shelter-in-place-weed-dispensaries-2020-3">allowed cannabis dispensaries to stay open</a> for medical patients after including them in a city-wide shutdown over the weekend. Many dispensaries around the US and Canada have moved to online-only operations as well, per press releases and social media messages sent to Business Insider throughout the week.Amanda Denz, the chief marketing officer at Sava, a California cannabis delivery service, told Business Insider that sales jumped three times over the normal amount this past weekend."I think people are worried that in a few weeks their favorite products will be gone," Denz said.She said each of Sava's delivery drivers will be outfitted with latex gloves and alcohol-based hand sanitizers, and will be instructed to wipe down products and surfaces like door handles in between each delivery, similar to food delivery services like GrubHub.That customer care seems to extend to New York City's illicit cannabis delivery services as well. One delivery service advertised in a text message to regular clients a "no-contact" drop off service, and said each of its delivery people will carry latex gloves and hand sanitizer, per a tip received by Business Insider.AP Photo/Peter DejongPeople queue to buy marijuana at coffee shop Bulwackie in Amsterdam, Netherlands, Sunday, March 15, 2020, after a TV address of health minister Bruno Bruins who ordered all Dutch schools, cafes, restaurants, coffeeshops and sport clubs to be closed on Sunday as the government sought to prevent the further spread of coronavirus in the Netherlands.<h2>Squeezing out smaller CBD and cannabis startups </h2>For smaller operators in legal states, the coronavirus pandemic is creating more difficulties than a temporary sales boost can fix.Colorado, for instance, doesn't allow cannabis delivery service in the same way California does. Cannabis customers in Colorado can place orders online, but they have to physically go to the dispensary to pick up their products.Johnny Kurish, the CEO and general manager of Boulder's Helping Hands Herbals, said he was forced to close his two locations."We're waiting and holding," Kurish told Business Insider over the phone. "If delivery was an option, that would save our business."To Kurish, the biggest challenge of having stores be closed for an indeterminate amount of time is figuring out a way to pay employees."I'm not holding my breath for federal assistance," Kurish said. "They're still working out our tax laws."<h2>'It's a war-zone out there'</h2>Jim Higdon, a former journalist, is now the CEO of Kentucky-based CBD company Cornbread Hemp.Cornbread Hem mostly sells to retailers like high-end organic and natural-health-food stores. The crippling effects of the pandemic on the global economy mean that the startup's retail partners are suffering, too."It's a war-zone out there," Higdon said. "The last thing they're thinking about is onboarding a new product. They're just trying to keep their shelves stocked."Higdon said that his company's cash position is strong and that it's doubling down on e-commerce. "We'll weather the storm. But it's [coronavirus] hurting our ability to grow, but it's not hurting our ability to maintain our position," Higdon said.Higdon's comment belies a larger problem in cannabis, one that isn't necessarily caused by coronavirus, but exacerbated by it: Many cannabis companies are over-leveraged and are running out of cash.REUTERS/Rafael MarchanteA worker checks cannabis plants inside the Tilray factory hothouse in Cantanhede, Portugal April 24, 2019.<h2>Supply chain issues and an accelerated shakeout</h2>The North American Marijuana Index, which tracks a basket of cannabis and cannabis-related stocks, <a href="https://www.businessinsider.com/pax-eaze-weedmaps-hexo-canntrust-layoffs-job-cuts-in-cannabis-2019-10">has tumbled over 60% this year, building on 2019's rout</a>. On the private side, <a href="https://www.businessinsider.com/why-medmen-pharmacann-blowup-is-a-disaster-for-cannabis-ma-2019-10">cannabis startups have struggled in recent months</a> to raise growth-stage money as cannabis-focused investors, for the most part, are tapped out and reticent to invest in an industry where companies have wiped out millions of value in recent months."Startups are some of the most fragile companies out there," Catherine Dockery, the founding partner of Vice Ventures, told Business Insider in an email. "Most companies we speak with express their runway in months - so this sort of adversity is especially challenging for the early-stage investment community."That dynamic will present itself in two ways as the US and Canada move towards more widespread lockdowns, says Pete Karabas, the founding partner of the cannabis-focused Key Investments."Private cannabis companies who have raised capital recently and have cash on their balance sheets should be in good position to weather the storm," Karabas said. "On the other hand, private cannabis companies who are in the process of fundraising or had plans to do so in 2020 will likely struggle to raise capital."Those companies, Karabas said, will become distressed assets, where acquisitive buyers will be able to dictate the terms of the deal.And second, the larger shock to the global economy and the stock market means there will be fewer investors who will be willing to invest in riskier, early-stage cannabis companies."We believe investment managers with dry powder will ultimately benefit from such an environment since capital dedicated to cannabis investments will become more scarce," Karabas said.For operators, though, having cash is paramount."There are three main risks right now, the way I see it," Jon Sandelman, the CEO of New York City-based Ayr Strategies told Business Insider over the phone."If the employees can't come to work, you can't make your product. You can't grow your product, and you can't service your customers. Second, if the customers don't want to leave home, you have no revenue. And third, if your balance sheet is not strong and your operations are burning cash…it's about optionality - do you have the financial means to stay alive if business drops 15-20%?" Sandelman said. To that end, Sandelman said his company has the resources to persevere, but others may not.That will accelerate the trend of "massive consolidation" Sandelman sees in the cannabis industry."In bear markets, there's massive dispersion and those who plan for this day, who are disciplined and excellent stewards of capital, they'll be the survivors," he said.Graphic by Business Insider<h2 dir="ltr">'Planning for the unknown'</h2>Nick Kovacevich, the CEO of Kush Bottles, a publicly-traded manufacturer of cannabis packaging, was forced to pull his company's financial guidance because of the coronavirus outbreak."We're planning for the unknown and that's obviously very challenging," Kovacevich said. One of the key challenges is the impact to supply chains, since most cannabis packaging and vape devices are produced in China, which has shut down large portions of its manufacturing economy to combat the virus since December, he said.If the economy stays shut down, "that's going to be a dire reality for cannabis because none of these companies have strong enough balance sheets to survive a broader shut down of the industry, whether it's two weeks, three weeks, or four weeks. They just don't," Kovacevich said. All this means that for companies in the cannabis and hemp space, it's time to get creative.Ryan Lewis, the CEO at Global Cannabinoids, a hemp and CBD company, is doing just that. The company released a cannabinoid-infused, alcohol hand sanitizer last week, which it says is an "ideal ingredient to add in the fight against viruses."While CBD does have antibacterial properties - and hand sanitizer is crucial during a pandemic - it's important to note that <a href="https://www.businessinsider.com/wuhan-coronavirus-myths-red-meat-bleach-antibiotics-and-sesame-oil-2020-2">there is no compelling research to show that any cannabinoid can kill the coronavirus</a>. To Mitch Baruchowitz, the managing partner at Merida Capital, a cannabis-focused private equity firm, the economic fallout from the pandemic could create an opportunity for savvy startups and investors. "It's important to consider that access to capital could be constrained for an extended period and that companies without large capital reserves or easy access to capital should run as lean as possible, even if that means curtailing growth," Baruchowitz wrote in a letter reviewed by Business Insider. "Companies that survive the current chaos are likely to emerge as winners, so chaos will arguably elevate these companies."<ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/cannabis-tech-startup-green-bits-lays-off-40-employees-2020-3">Green Bits, a cannabis startup backed by Tiger Global, quietly terminated over 40 employees in a bid to cut costs</a></li><li><a href="https://www.businessinsider.com/greenlane-holdings-cmo-departs-company-days-after-layoffs-2020-3">A key executive departed cannabis-vaporizer company Greenlane Holdings two days after the company laid off 31 workers</a></li><li><a href="https://www.businessinsider.com/medmen-layoffs-128-people-in-february-per-securities-filing-2020-3">Embattled cannabis retailer MedMen quietly terminated 128 people in February, filings reveal</a></li><li><a href="https://www.businessinsider.com/cannabis-company-acreage-holdings-cut-40-jobs-2020-2">Cannabis company Acreage just cut 40 jobs following a strategic review, and it's the latest sign of a tough environment for cannabis sellers</a></li></ul><a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/coronavirus-myths-debunked-wuhan-china-2020-2">Pathologists debunk 13 myths about the coronavirus, including why masks won't help</a></h3>

Pot stockpiles, supply chain disruptions, and CBD hand sanitizer: How the cannabis industry is preparing for - and reeling from - the coronavirus pandemic

Insiders who worked with Instagram mega influencer Danielle Bernstein say she rips off fashion designers and gets away with it

If it sometimes feels like advertisers don't treat you like a human being, don't worry, they do.
It's just that they treat you like a bunch of human beings packed into one.
We recently stumbled across <a href="http://reference.mapinfo.com/software/anysite_segmentation/english/2_0_1/PersonicX_Binder.pdf">a packet</a> from Little Rock, Ark.-based marketing data firm Acxiom for their "Life stage segmentation system" called "PersonicX® Cluster Perspectives."
Acxiom has broken down American society into 21 composite characters at various life stages according to income, marital status, number of children, age, etc.
The PersonicX system "enables you to see the dramatic difference between the consumer behaviors of the affluent, retiring couple living right next door to the young family just starting out. PersonicX helps you tailor your marketing strategies with a level of precision only offered by a household-level segmentation system and the most accurate, up-to-date data source in the market."
The descriptions of these consumers are hilariously, impeccably detailed.
We picked the 7 best ones and reproduced them in full below.
<h2 class="p1"><div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://reference.mapinfo.com/software/anysite_segmentation/english/2_0_1/PersonicX_Binder.pdf">PersonicX</a></div></div></div>BEGINNINGS, A DAY IN THE LIFE</h2>
Name of protagonist: "Jimmy"
Wakes up…late because he stayed up too late playing games online the night before. Grabs a quick shower and has leftover pizza for breakfast.
Spends the day…at the car dealership where he is a salesman. He's a good salesperson and is already above quota with four days left in the month. He spent half the day talking to his new girlfriend on his cell phone.
Talks about weekend plans to…play a game of football or basketball with friends, or catch a movie and come back by the evening to go see one of his favorite local bands that is playing down at Joe's Pub and Pool Hall, one of his regular hangouts. Has a meeting with…his sales manager to discuss a deep discount for his new girlfriend. She wants that new black Pontiac G6 that they got in last week.
Spends the evening…meeting his roommate back at the apartment. They order pizza and watch Adult Swim or reruns of Family Guy as well as the reality TV offerings on MTV. He has a few beers at the apartment and texts his girlfriend while checking the game scores at ESPN.com. Later, he and his roommate go down the street to The Tavern where he meets his new girlfriend.
Goes to bed at…1:30 a.m., flipping between…WWE Wrestling and MTV.
<h2 class="p1"><div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://reference.mapinfo.com/software/anysite_segmentation/english/2_0_1/PersonicX_Binder.pdf">PersonicX</a></div></div></div>TAKING HOLD, A DAY IN THE LIFE</h2>
Name of protagonist: "Maria"
Wakes up…grabs the remote and flips on alternative rock radio. She gets up, goes to the kitchen, grabs a bottle of water and goes to the third bedroom that doubles as the workout room. She runs on the treadmill for 30 minutes.
Spends the day…researching a big liability case for the law firm where she works as a paralegal. She calls her husband and reminds him that it's his parents' anniversary and that it is a good idea to at least offer to take them out to dinner that week or cook a dinner for them in their gourmet kitchen. Talks about weekend plans to…go camping to get away from it all. The weather is supposed to be perfect for it, finally cooling down after that heat wave.
Has a meeting with…the group of attorneys that is working on the case to discuss the fact that they were not going to have any case based on precedents of two similar cases.
Spends the evening…driving to the athletic club and playing tennis with her group of friends. Meets her husband for a late dinner at Jay's Pizza. She has soup and salad with a Corona Light beer. Later they spend time online shopping for a new TV, hopefully one of those nice flat screens with HDTV and a Blu-ray player.
Goes to bed at…11:30 p.m. after a half hour of pilates, watching…Scrubs reruns
<h2><div class="KonaFilter image-container display-table float_right"><div><div class="image">PersonicX</div></div></div>TRANSITION TIME, A DAY IN THE LIFE</h2>
Name of protagonist: "J.D."
Wakes up…and notices a small yellow spot on the ceiling of the bedroom in his doublewide mobile home. He thought to himself that he didn't completely seal the leak in the roof. He knew his wife would be angry. She told him he needed to use a roof sealant, not the caulk in the toolbox. He made some instant coffee and took a shower.
Spends the day…working as a foreman in a paper products factory. He has a team of four truck loaders that report to him, and a typical factory schedule: involves punching the clock and working 8:00 to 5:00 with two daily, 15-minute breaks and an hour for lunch.
Talks about weekend plans to…go hunting. Deer hunting season starts this weekend and he's got a lease to hunt on some property with several guys at the factory.
Has a meeting with…his deer hunting buddies to make plans about who needs to bring what to the property lease this weekend.
Spends the evening…adjusting the throttle body on his wife's car and putting some more caulk on the roof while she makes dinner. They have sloppy joes made with a canned mix and watch King of the Hill and CMT. His wife cleans up the kitchen and spends the rest of the evening reading magazines.
Goes to bed at…10:30 p.m., watching…nothing. His wife can't sleep when the TV is on or music is playing.
<h2><div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://reference.mapinfo.com/software/anysite_segmentation/english/2_0_1/PersonicX_Binder.pdf">PersonicX</a></div></div></div>FLYING SOLO, A DAY IN THE LIFE</h2>
Name of protagonist: "Jackie"
Wakes up…gets out of bed after hitting the snooze button several times. She listens to a station with an urban format. She has a bowl of Kellogg's Special K Red Berries and a Rockstar energy drink before heading to the subway from her apartment a few blocks away.
Spends the day…working as a compliance assistant in a brokerage firm downtown. She tried being a sales assistant, with dreams of being a broker, but quickly decided that it wasn't for her. The job isn't exactly executive level and her parents wonder why she didn't finish her college education. She opens a can of chicken for lunch in the break room and catches up on the office gossip with her girlfriends. Talks about weekend plans to…go dancing with her friends at the new club that just opened.
Has a meeting with…the compliance manager. She does a good, thorough job and has good relationships with her co-workers, but her data entry speed is just a little slow. She'll need to work on it if she wants to advance to team leader.
Spends the evening…grabbing a quick drink with co-workers after work and then rides the subway back home. Reads the new issue of Cosmopolitan magazine that arrived in today's mail. She fixes pasta and a pre-made spaghetti sauce for dinner and surfs the Internet checking job sites and making a purchase here and there while watching a movie she had rented.
Goes to bed at…11:30 p.m., watching…reruns of Scrubs.
<h2><div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://reference.mapinfo.com/software/anysite_segmentation/english/2_0_1/PersonicX_Binder.pdf">PersonicX</a></div></div></div>MIXED SINGLES, A DAY IN THE LIFE</h2>
Name of protagonist:"Malcolm"
Wakes up…warms up some Entenmann's cake for breakfast and washes it down with skim milk.
Spends the day…looking for a new job on the Internet, and listening to Urban radio, missing his first class at Phillips Community College. He hates the instructor and figures that he was going to drop that class anyway.
Talks about weekend plans to…hang out with his buddies, checking out the latest dance club and maybe go to the opening weekend of the latest movie.
Has a meeting with…his financial aid counselor to find out if he could still receive financial aid if he drops the course.
Spends the evening…working the late shift in the grocery store. It's a boring job, but the two M.O.D. (Managers on Duty) are okay to work for. He's a checker for part of the evening, then a stocker. He gets off work at 2:00 a.m.
 Goes to bed at…3:00 a.m., watching…Family Guy
<h2 class="p1"><div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://reference.mapinfo.com/software/anysite_segmentation/english/2_0_1/PersonicX_Binder.pdf">PersonicX</a></div></div></div>CASH &amp; CAREERS, A DAY IN THE LIFE</h2>
Name of protagonist: "Derek"
Wakes up…hits snooze on his alarm clock/sound machine. It is 5:00 a.m. His back has started to hurt recently and he takes a moment to stretch and work out the kinks. He jogs his usual three miles regardless of the weather. He would run farther, but there's not enough time. He gets back to the house and logs on to get tickets to an upcoming rock concert.
Spends the day…at his job as an educational administrator at Bridgewater Academy. He's preparing for a meeting with the Academy's largest benefactors to provide a construction update on the new science building.
Has a meeting…with the fertility doctor. He and his wife have been trying to get pregnant for a few years.
Talks about weekend plans to…play golf on Saturday with some colleagues, then have friends over for dinner, comparing some newly acquired wines. Spends the evening…reading a John Grisham novel. He can't take it to work because all of the instructors give him a hard time about reading "that best-seller trash."
Goes to bed at…10:00 p.m., watching…nothing. He has to get a full seven hours of sleep for his morning run.
<h2 class="p1"><div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://reference.mapinfo.com/software/anysite_segmentation/english/2_0_1/PersonicX_Binder.pdf">PersonicX</a></div></div></div>MIDDLING SINGLES, A DAY IN THE LIFE</h2>
Name of protagonist:"Richard"
Wakes up…tunes in to NPR and catches the morning news. The meteorologist is predicting rain today. He jumps on the subway; its shoulder-to-shoulder as usual.
Spends the day…at his cubicle in the insurance claims department, researching his company's benefits policies and watching the CNN news ticker run across the bottom of his screen.
Talks about weekend plans to…give Paula, his 36-year-old "friend," a call even though it has been two months since they last talked. He has two tickets to the John Mayer concert and thought she'd be a fun date. Afterward they could grab a bite to eat.
Has a meeting with…his travel agent to discuss plans for an upcoming trip to the Bahamas with his buddies. He has noticed that the agent is very attractive and recently divorced.
Spends the evening…working out at the gym. He showers and then heads home for dinner, making pasta and watching The Office. After dinner he updates his profile on Facebook just to let his friends know what's going on.
Goes to bed at…11:30 p.m., watching…a new TV show he just downloaded off of the Internet.

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