As cannabis sales spike due to the coronavirus pandemic, consumers appear to be seeking value over luxury, forcing some high-end producers to look at different marketing tactics
In mid-March, the weekend before COVID-19 shelter-in-place orders took effect, cannabis consumers across the West Coast felt the need to stock up.
According to Marijuana Business Daily, on March 16, California cannabis retailers saw a 159% increase in same-day sales versus 2019, while sales in Washington state increased by 100% and sales In Colorado increased by 46%. Predictably, after the initial rush, sales figures fell back down to earth, but still remain higher in most legal markets than a year ago.
But the question is not just one of how much cannabis customers are buying from retail and delivery, but what types of products.
Interviews that weekend with dispensary customers in Los Angeles showed many were looking for the “best deals” and buying in bulk.
Read full article here: https://www.marijuanaventure.com/luxury-vs-value/
By Adriana Hemans and Spike Smith. Hemans and Smith host a weekly podcast for cannabis entrepreneurs called The Sticky Business Podcast, which can be found at https://anchor.fm/stickybusiness.