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4 trends in the cannabis retail market - FAD Magazine

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4 trends in the cannabis retail market

Sakoilsky. All Needs Catered [Still Life With Black Plastic Flowered Skull, Wine And Cannabis]

Sakoilsky. All Needs Catered [Still Life With Black Plastic Flowered Skull, Wine And Cannabis]

According to the United Nations, 158.8 million people across the world use cannabis, which is more than 3.8% of the world’s population. This shows how popular cannabis has become over the years. There are many benefits of legalizing marijuana including the dismantling of the black market, improved quality and safety control, availability of medical marijuana and increased tax revenue. People are starting to view marijuana in a more positive light and this shift has allowed the industry to expand greatly. There are also many different types of marijuana consumers including homebodies, productive users, athletes and people with medical conditions. Below will discuss some recent trends in the cannabis retail market.

Consumption innovation 

The way people consume cannabis has evolved over the years and the technology surrounding cannabis consumption has evolved as well. There are now many different ways that you can smoke cannabis including:

  • Vaporization: This is a more health- conscious method of consuming cannabis as using a vape does not carry the same health risks that come with combustion. 
  • Hand Pipes: These are small, portable and convenient and come in a variety of designs and styles. 
  • Water Pipes: These include bongs and bubblers that come in a variety of styles and designs and incorporate water in the smoking process. 
  • Hookahs: This is a less common method of smoking cannabis and when consumed with a hookah, cannabis has to be mixed with shisha which is wet tobacco because the low water content in the hookah causes the cannabis to burn faster than it can be inhaled causing the herb to be wasted. 
  • Homemade one-time use devices: This includes disposable cannabis smoking devices for example an apple bong.

There are many options available when it comes to different methods of consumptions and this helps the consumer because you get to choose a method that best suits you. If you want to be more discreet, a hand pipe is a good option whereas if you want to smoke in a group then a hookah would be more suitable. It also helps businesses because different consumption methods means a demand for the different tools of consumption. The vaping industry for example has boomed over the past few years. There are websites that can practically guide you through every tool by giving you all the advice and information you need and Smoke Cartel is a retailer that has the world’s largest catalog of smoking products on the market. By being in this industry for quite a time, it has all the experience in providing you the best that you can find, according to your needs.

Legalization boom 

In recent years medical marijuana became legal followed by marijuana in places including Alaska, Arizona, California, Illinois, New Jersey, New York and many more. Legalizing marijuana brings in a lot of money which is a positive thing that can benefit the consumer. Cannabis being legalized also means more tax revenue. In 2019, Colorado alone collected more than $302 million in taxes from medical and recreational marijuana. This money can be used to fund and further develop the medical and therapeutic value of marijuana as a substitute to pharmaceuticals and new innovations will result in a new customer experience. The money can also be used to assist in economic recovery.

Safety standards

The legalization of marijuana has also lead to much better safety standards and more competition in the market. This benefits everyone because increased competition will result in an increased quality of marijuana which will lead to a more improved customer experience. Legalization also dismantles the black market and ensures that the marijuana that is in distribution is of a good quality to be consumed because a lot of marijuana sold illegally is laced and very low quality. 

Marijuana tourism

With the legalization of marijuana, marijuana tourism has also developed. Marijuana tourism is a time to get away to a certain destination and experience marijuana in a fun and exciting environment. For example in California they offer “wine and weed” tours where party buses allow tourists to sample different products that are cannabis based. Marijuana tours are good for the economy as they promote economic growth and new businesses opportunities for people. It is also a fun and different way to spend your time and money. The reason this industry is growing and why it is so popular is because there is a demand for it. In Colorado, cannabis tourism has grown 51% since 2014 and attracted 6.5 million tourists in 2016 alone and this number is expected to grow. Some places that offer marijuana tourism includes Colorado, California and Nevada. 

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