If you’re considering launching a cannabis business, you’ll probably never hear an experienced old-timer say, “By golly, but this sure isn’t your father’s cannabis business.”
It would be 100% true though. Because even if your father WAS in the cannabis “business”, it wouldn’t have been the sort of thing he put on his resumé.
But now that it’s legal to own and operate a cannabis business – provided you’re in the right place and willing to jump through a myriad of flaming hoops – it’s a truly legit job that’s resumé worthy.
It’s also one that can be very lucrative. Especially if you’re capable of recognizing cannabis trends and then implementing them.
What Are the Current Cannabis Trends?
Cannabis is the fastest-growing industry in the United States. But it’s also one of the most dynamic.
Things can (and will) change in the blink of an eye. So keeping up with what’s trending is crucial – even if it’s going to change again in six months (or weeks, or days… it truly is a fickle industry).
For now, we’ve compiled the shortlist of what’s hot today. We call it the 3Cs (and an R) of cannabis trends:
If there weren’t a sizable number of people who enjoy drinking, many businesses would cease to exist.
Of course, the first businesses that pop to mind are bars. And yes, beer and liquor companies, as well as international alcohol conglomerates, are already investing in creating non-boozy cannabis-infused drinks. (In other words, swapping out the drunk adult in your adult beverage for a stoned one instead.)
But if drinking in general ceased, cafés would also go under. Because many people are now totally fine with paying $6 for a coffee. Infuse it with THC and you can get even more. In fact, you can already find THC-infused coffee, tea and even kombucha. And it SELLS.
Yep. Cannabis-infused beverages are huge. And cannabis beverage sales are expected to only continue to explode for the next several years. So, cheers.
Back in the day (like a year ago), folks were still alright with munching on a brownie and assuming that it really DID have just10 milligrams of THC. They’d just kick back and hope for the best.
These days, consumers are more exacting. They would prefer to craft their cannabis experience to keep it consistent. But to do this, dosing needs to be reliable and accurate.
So while 10 milligrams was once the standard, the current cannabis aficionados are experimenting with lower and far more precise doses. They’re also more interested in knowing just exactly what effects each strain offers.
In other words, they want to personalize their cannabis experience. And businesses are making this happen.
Why do you suppose the disposable cartridge vape was such a huge success? If you said “convenience,” you don’t really win because it’s written directly above.
When cannabis initially became legal, it revolved around the flower and/or concentrates that had to be either smoked or vaporized. This wasn’t always convenient for the consumer.
But simplifying the consumption process down to the simple press of button while inhaling sure was! You could even say it was super convenient.
And on the heels of the vape pen’s popularity came an abiding love for single-serve edibles and shots of cannabis-infused beverages rather than entire bottles. (Further proving what we discussed above in Consistency and Chuggability.)
But it’s not just about convenience in consumption. Proximity of dispensary location is also considered vital. And delivery services are on the rise.
Perhaps Cannabis Grub Hub will soon be a thing.
4. Respect Your Elders!
The prevailing belief is that young people are out having fun with cannabis, while older consumers are only in it to ease pain and help them sleep.
Well, sorta wrong. The truth is, nearly 70% of Baby Boomers DO consume cannabis to deal with medical issues. BUT, 60% also say they use it to unwind and have a good time too.
So that makes them a hugely promising demographic. Take that, whipper snappers.
Are You Staying Informed?
Whether you’re planning to start a cannabis business, or you’re already in it full speed ahead, you need to stay on top of the quickly changing cannabis trends.
Otherwise, it’s going to be difficult to scale your business in this dynamic industry.