Cannabis Related Products Explode Online
Have you heard of the ‘Green Rush’? It is highly unlikely that you have not, especially if you live in California. Marijuana business analysts show that California is set to be at the forefront of the American Cannabis market. Cannabis legal adult recreational sales begin in January, 2018 and with it come a world of products to market. Previously, delivery services were outlawed but now regulations are set to be in place by the time recreational use is legal and access will be the most important factor in market growth. The projected growth is 6.6 billion in the next 12 years- according to New Frontier analysis – that is a 12% annual increase.
So what does product research suggest? Millennials are the primary buyers (80%) of the online market. According to greenrush.com, a platform for delivery, the majority are male (70%) and between the ages of 18 to 34. The trend is moving toward more demand for vapes and concentrates. Edibles and flower will plateau and concentrates such as oils, shatter, dabs and wax will take center stage. This is reflective of a changing aesthetic that has been on the rise in the world of cannabis, that of high quality and design. It is likely we will see more branded products and a much more discerning consumer. The market niche for e-commerce one will see online will be for gourmet edibles such as infused chocolates, pre packaged brownies, infused coffee, etc. However, the online cannabis product market extends into beauty products, pet products, fashion, scent proof bags, artfully crafted glassware, jewelry, perfume, CBD aromatherapy sprays, cbd coconut energy shots- just to name a few!
What does this mean for retailers? Getting involved now is the best bet, you need some time to launch your brand and although fast approaching there is still some room for establishing creative and novel ideas as to what that should look like in order to stand out in this emerging industry. Investors are likely to catch on quickly but will only deal with companies that are proven to have a foothold in the market. This is also an industry that may come with a lot of unprofessional retailers, so services like ‘WeedMaps’ whereby user reviews are published in order to help facilitate which are the best products and companies to order your marijuana delivery online and not succumb to legitimacy and quality issues.
Let’s face it, with more than 3 billion people online, selling products on the internet is the biggest platform any market can hope for. Even with the advertising challenges that the cannabis industry is faced with in terms of the large websites (Google, Facebook) not allowing cannabis related ads, there are still plenty of options out there. What is most valuable is a strong online presence, a social media marketing plan, implementing search engine optimization to drive traffic to the site as well as companies like ‘Adistry’ that will place your ad on sites that do allow them. The green rush is rolling in, it is exhilarating to be on the front lines of change in an emerging industry ready and set to take off.