6/29/22, 7:11 AM Canna-flation - High-End Cannabis Brands are About to Meet Price-Conscious Consumers in a Big Way
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CANNA-FLATION PRICE CANNABIS
Canna-flation - High-End Cannabis Brands
are About to Meet Price-Conscious
Consumers in a Big Way
Will high end cannabis brands survive a price conscious consumer going forward?
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6/29/22, 7:11 AM Canna-flation - High-End Cannabis Brands are About to Meet Price-Conscious Consumers in a Big Way
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The cannabis industry consists of different products (https://cannabis.net/shop/cbd-store) ranging from flowers,
extracts, edibles, and so on. With such a wide variety of products, their categories in the market tend to evolve and
change with time. What this means is that some of these products possess tiers and sub-tiers that impact which
products rank higher before the consumer. It is therefore important to look at what will make a cannabis product high
in demand. Read on as we explore what sets a cannabis product out to consumers who set cannabis prices as the
bottom line.
Prices, Purchasing Power, and Options
Cannabis dispensaries (https://cannabis.net/find/dispensary) are organized to differentiate top-shelf products from
generic products on the menus. Branding, marketing, and organization in the dispensary have served as key
differentiators used to separate these products. The aim is to ensure that the customers can be attracted to the
features, benefits, quality, and other traits of such top-shelf products. This is expected to inform the buying decision of
such a customer and direct them to the top products in the dispensary. However, trends have shown that the major
factor driving consumers buying decisions in 2022 is cannabis prices.
The purchasing power of a consumer is a very important factor that determines what the consumer can purchase
market. This means that cannabis consumers are very conscious of the prices of products in line with their purchasing
power. While this is predominantly true, the cannabis industry is such that consumers aim to get maximum satisfaction
from their products. This means while also considering prices and their purchasing power, cannabis consumers want
to get the most for their money.
Cannabis flower prices on the West Coast plunged recently with the prices of outdoor and greenhouse products
(https://cannabis.net/blog/opinion/the-benefits-of-sungrown-cannabis) dropping by 50% from last year. This means
consumers that are very particular about the prices of products now have a bigger net of options to choose from.
Jason Bridges as the head of merchandising with Amuse which is one of the largest cannabis distributors in California.
He recently weighed in on the discussion about price-conscious consumers in the cannabis industry. Bridges believe
that consumers are more price-conscious now than they were a couple of years ago. He added that consumers are
normally willing to pay top dollar for flowers with as high as 30% THC due to their quality and potency. However, a
number of small brands now possess flowers with high THC content at low prices. Bridges, therefore, believes this has
affected the mindset of consumers to seek products with high THC content and low prices irrespective of brands.
How do these products perform in the market?
What will help you understand this market characteristic of cannabis consumers is how cannabis products perform in
mature markets. Headset reported on the popularity of cannabis products in mature markets earlier this year. The
results showers that the products are consistently ebb and flow based on consumer performance in the market. As the

6/29/22, 7:11 AM Canna-flation - High-End Cannabis Brands are About to Meet Price-Conscious Consumers in a Big Way
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markets mature, edibles and other products are gradually taking prominence from cannabis flowers which normally
dominate the market. Other products such as tinctures, sublingual strips, pre-rolls, and beverages are also becoming
important. Canada recorded a stunning 3,000% growth in tinctures and sublingual products over the year.
Distinction across groups of products also affects the prices and performances of such products. As stated earlier,
some products easily possess tiers and sub-tiers which perform differently and thus cannot be generalized. Flowers for
example according to Bridges possess about five different tiers which are more than that of any product. These tiers
have different prices and so are expected to be arranged differently and perform differently. Edibles on the other hand
are all within the same price range which means their performance in the market depends on the customer’s
preference. Other products like vape cartridges and pre-rolls despite their small distinctions are still similar in
performance. This means only flowers possess a wide margin in pricing tiers that might influence the customer’s
choice.
BDSA analysis also showed the performance of some products of some of these products in the cannabis market in
California from 2021. The product that has recorded the most increase in the vape market is live resins. Resins are
gradually becoming a household name in cannabis dispensaries as they are top-shelf products
(https://cannabis.net/blog/how-to/5-secrets-to-growing-top-shelf-pot-at-home) with a top stake in the vape market. The
analysis from BDSA shows that live resins make up 30% of vape sales in California in 2021. This was a steady
increase.10% in 2019. Presently, live resins have grown to more than 75 percent of top-priced products in that
category. This trend of live resins is similar to that of flowers in the market where top-shelf products outperform
budget buds.
With more subcategories emerging, differentiation in cannabis prices is set to be a major discussion topic in 2022 as
products jockey for top-shelf. Consumers have to decide which products have additional benefits and deserve the
premium of higher prices. This category is already seen in the edibles market where consumers willingly pay more for
additional functional benefits in the gummies. Gummies that have CBD are 20%
(https://madebyhemp.com/product/cbd-gummies-tumeric-spirulina/?sscid=61k6_vly69) higher in price than those
without. Nonetheless, they have recorded an increase in sales by 40 percent from 2020 to 2021 according to BDSA.
Gummy products with minor cannabinoids such as CBN and CBG are also increasing in popularity and performance in
California markets.
Bottom line
The performance of cannabis products in the market has shown that the cannabis industry is not like other industries
out there. While predictions can be made on which product should perform more than the other, the onus still lies in
the hands of the consumer to choose what he wants. With a wide array of products available to meet the need of the
consumer, jockeying for the top shelf has become less definite. Purchasing power and prices might be a strong
determinant in some regions while benefits are the major factor for some categories. This means ultimately the
products which suit the personal preference and capabilities of the consumer should be expected to perform more.
Yet, this too is not set in stone so don’t bet on it.
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