Don’t Discount Cannabis 2.0

Dry cannabis flower is still leading the pack of product categories in the latest data from Statistics Canada, but for the first time, so-called “cannabis 2.0” products like edibles, vapes beverages and concentrates are making a dent in market share, reports MJ Biz Daily.

By the numbers

Cannabis 2.0 products came to market at the end of 2019, just over a year after legalization. At the time, dried flower made up 90% of adult-use cannabis sales as the country’s first vape pens, topicals and edibles gradually came to market.

By March of 2020, dried flower dropped to 81% of cannabis sales. By September, it had dropped further, to 76%.

Extracts and concentrates (not including oils) had the most growth between Q1 and Q3 in 2020, with retail sales growing by 170%. Second in line were edibles, which grew by 150%. Seeds and plants grew by 93%, dried cannabis sales grew by 42% and oil sales grew by 10%.

Don’t forget about drinks

At Wednesday’s Understanding Cannabis Beverages event, Mercari CEO Lisa Campbell said her team is busy planning summer events for budtenders — all Health Canada and COVID-compliant, of course — where, depending on the province, there’s a bit more wiggle-room when it comes to product samples and language. 

“Budtender education is one of the most fun things you can do to build loyalty,” she advised during the Marketing of Cannabis Beverages session. “It’s also exempt from the Cannabis Act under the B2B exemption, so you can use recreation, vitality, excitement, even luxury, so you can really treat your budtenders.”

Canadian winter melting away + COVID vaccine roll-outs ramping up = Cannabis 2.0 📈

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