From Cannabis Business Executive: "It’s tea time for the cannabis market"

May 10, 2017 2:42:46 PM / by BDSA posted in Cannabis, Oregon, Edibles, Knowledge Center, In the Media, Colorado, Data Based Decision Making, Business

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Cannabis with your cup of tea?

Increasingly, consumers are saying, “Yes, please.”

Cannabis-infused tea drinks are hot in the marketplace, and the thirst for pot tea is a fairly new phenomenon. According to data from BDS Analytics, a leading source of consumer data in the cannabis industry, it’s a 2017 thing.

The tea category captured a small sliver of the beverage market in 2016.

In 2016 between Colorado, Washington and Oregon, tea represented a small — 2 percent ($351,000 in sales) — share of the $20.09 million beverage market. Tea data for 2015 is roughly the same; the category grew by just 2.5 percent between 2015 and 2016.

But so far in 2017 (with data through March in Oregon, February in Colorado and January in Washington) we find tea capturing 8 percent of the $3.10 million beverage market, with $250,000 in sales. For all of last year, dispensaries sold just $351,000 worth of tea products — at this rate, sales of tea in 2017 will quickly surpass last year’s mark.

During just January and February alone in Colorado, tea sales rose sharply.

Let’s consider the states. In Colorado last year, tea sales represented 2 percent of the market, on $198,000 in sales. So far this year? January and February alone have seen $197,000 in tea sales, just $1,000 behind sales from all of last year. And tea’s market share in Colorado has risen from 2 percent in 2016 to 9 percent so far in 2017.

Tea sales in Oregon have rocketed up dramatically during the first three months of 2017, with sales during the time period tripling sales for all of 2016.

In Oregon last year, dispensaries sold $13,000 worth of tea, and the category claimed just 1 percent of Oregon’s $1.47 million beverage market. But sales in Oregon through March of this year, at $42,000, have already more than tripled all of last year’s sales. And now tea holds 20 percent of the state’s beverage market. One caveat: Adult-use dispensaries in Oregon last year could only sell flower until June. So for the first half of the year, data for things like concentrates and edibles, including tea, represent only sales at medical shops. Either way, Oregonians passion for tea has clearly taken off in 2017, rising from just 2 percent of the beverage market in January, to 24 percent in February ($16,000 in sales) and up to 27 percent ($24,000 in sales) in March.

The tea trend has not caught on in Washington, where market share in January of this year of 2 percent (on sales of $140,000) is the same as tea’s market share for all of 2016. In the past four months, sales of coffee products have overtaken tea demonstrating Washington’s known affinity for coffee.

Compared to market behemoths like flower, candy and pre-filled vaporizer cartridges, tea remains a teacup amidst barrels. At the rate it is growing, however, the dainty cup might soon morph into something more like a thermos. One thing is for sure: the trend is warming the hearts of cannabis tea entrepreneurs in Colorado and Oregon.

Read the original article here.

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'In the Weeds' Episode 13: The Frontier of Cannabis Promotion Featuring Lee Henderson, Co-Founder of HiFi Farms

May 9, 2017 9:40:44 AM / by BDSA posted in Cannabis, Oregon, Retail, Doug Brown, BDSA Staff Highlights, Claire Kaufmann, Brands, Marijuana, 420, Market, Marketing, In the Weeds Podcast, Business

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Today on 'In the Weeds' visit the frontier of cannabis promotion. Modern rock act, "Portugal. The Man" has teamed up with international ad agency Wieden + Kennedy and Oregon-based cannabis grower HiFi Farms to release "Feel It Still," a custom, packaged pre-roll blend designed to pair with the band's new single. The cannabis blend will be available at all Serra and Electric Lettuce locations across Oregon. Listen and learn how HiFi developed the strain, how they launched it and if it is actually generating a return!

Listen to the latest podcast here.

 
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About Lee Henderson

Lee Henderson is Co-Founder and currently the Community Relations Director of HiFi Farms located just outside Portland, Oregon. HiFi was recently named the "coolest cannabis farm in Oregon," by Esquire Magazine. Prior to founding HiFi, Lee spend time in the music industry, founding Slow Records in 2011. His ability to bring people together and his talent for event production make him a stand-out in the cannabis industry. 

Listen to the latest podcast here.

Today on "In the Weeds:"

Who came up with this idea? How did you cultivate buy-in?
You are sitting at the intersection of creativity and cannabis, how is HiFi leading the way in this space? 
Do you find performers are interested in sharing their experience with cannabis and how it contributes to their art?
So, how did you develop the strain and how does it make you feel?
How does the strain reflect the mood of the song?
Is this something you intend on doing with more artists going forward?
How is the pre-roll selling? Would you say this is a worth-while endeavor from a business standpoint?

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'In the Weeds' Episode 12: Featuring Jeremy Bamford, Founder of PotGuide

May 2, 2017 11:19:05 AM / by BDSA posted in Cannabis, Retail, Doug Brown, Claire Kaufmann, Brands, Marijuana, 420, In the Weeds Podcast, Business

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Today on 'In the Weeds' we get to know Jeremy Bamford, founder of PotGuide, the internet's most popular site for cannabis tourism. Learn how he has grown his company even with limited cannabis online advertising options, and what he sees for pot tourism in the future.

Listen to the latest podcast here.

About Jeremy Bamford, Founder of PotGuide

Jeremy Bamford is a seasoned internet marketer. He founded PotGuide in 2013, recognizing a lack of practical information for the marijuana enthusiast as well as outlets for businesses to promote their goods and services. PotGuide has more than 600,000 visits a month and is growing rapidly.

 

Listen to the latest podcast here.

Today on "In the Weeds:"

How is your site different from the tons of other MJ sites?
Tell us about your most successful content?
Where are most of your readers from, what does that say about the future of the industry?
How did you grow your site with all of the limitations on cannabis online advertising?
Where do you see PotGuide in the coming years?

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'In the Weeds' Episode 11: Women Cannabis Consumers are Different. How? Featuring Terri Nopp, Founder of Happy Parties

Apr 25, 2017 10:05:14 AM / by BDSA posted in Cannabis, Retail, Doug Brown, BDSA Staff Highlights, Claire Kaufmann, Brands, Marijuana, 420, In the Weeds Podcast, Business

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On this week's podcast we yak with Terri Nopp, founder of Happy Parties, about the unique needs and preferences of the woman cannabis consumer.

Listen to the latest podcast here.

About Terri Nopp, Founder of Happy Parties

With 25 years of communications experience ranging from start-up positioning, to enterprise global messaging, Her latest endeavor, HAPPY Parties, is growing rapidly and is now licensed in three states. HAPPY Parties, follows the traditional home based party model, allowing new cannabis consumers to learn about and consume cannabis in the comfort of their own home. 

Listen to the latest podcast here.

Today on "In the Weeds:"

For those that are new to the home-based party model how does it work?
How do you think you meet new consumer's unique needs?
It turns out that 50% of women cannabis consumers use it to treat specific ailments like PMS and pain. Women are using to relax, sleep better,and manage stress and anxiety. Do you see this same trend at your parties?
Trust, it seems, matters more to women than anything else when making a cannabis purchase. Why do you think that is?
Women view budtenders like hairdressers. Why?
Women care less about strain names and genetics and more about effectiveness? Why?

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'In the Weeds' Episode 10: BDS Analytics' Own Claire Kaufmann Dishes About The Le'Or Cannabis Passover Seder

Apr 11, 2017 10:31:23 AM / by BDSA posted in Cannabis, Retail, Doug Brown, BDSA Staff Highlights, Claire Kaufmann, Brands, Marijuana, 420, In the Weeds Podcast, Business

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This week's podcast promises to be our most informative yet.  As we all know in the cannabis industry, our Christmas comes in April. Listen this week as we give real, tangible advice about how to make the most of your sales on 420. 

Listen to the latest podcast here.

About Greg Shoenfeld, Director of Operations for BDS Analytics

On today's show we chat with none other than cannabis retail guru Greg Shoenfeld. Greg knows more about what works in cannabis retail than almost anyone else in the industry.  He has over 100 retail clients across Colorado. He has decades of experience driving sales at the retail level and then served as the Director of Retail Relations for Leisure Trends, the leading consumer data company in the hiking and biking industry. He knows what brands and retail outlets can drive purchase and gain loyalty.

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420 Special Webinar - Optimize Sales for your Dispensary or Brand - April 13th, 2017 - 12-1 PST

Apr 3, 2017 6:17:30 PM / by BDSA posted in Cannabis, Webinars, Edibles, Market Trends, Concentrates, Marijuana, Knowledge Center, Market, Dispensaries, Data Based Decision Making, Research, Business

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BDS Analytics Free Webinar

When Christmas Comes in April...
How to Optimize 420 Sales for Your Dispensary or Brand
Thursday, April 13th, 1-2pm MT, 12-1pm PST

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'In the Weeds' Episode 9: 420 Special - How to Best Optimize Sales for 420 - For Retailers and For Brands

Apr 3, 2017 5:35:36 PM / by BDSA posted in Cannabis, Retail, Doug Brown, BDSA Staff Highlights, Claire Kaufmann, Brands, Marijuana, 420, In the Weeds Podcast, Business

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This week's podcast promises to be our most informative yet.  As we all know in the cannabis industry, our Christmas comes in April. Listen this week as we give real, tangible advice about how to make the most of your sales on 420. 

Listen to the latest podcast here.

About Greg Shoenfeld, Director of Operations for BDS Analytics

On today's show we chat with none other than cannabis retail guru Greg Shoenfeld. Greg knows more about what works in cannabis retail than almost anyone else in the industry.  He has over 100 retail clients across Colorado. He has decades of experience driving sales at the retail level and then served as the Director of Retail Relations for Leisure Trends, the leading consumer data company in the hiking and biking industry. He knows what brands and retail outlets can drive purchase and gain loyalty.

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'In the Weeds' Episode 8: Meet Rob Meagher, Founder of Cannabis Business Executive

Mar 28, 2017 9:35:39 AM / by BDSA posted in Cannabis, Edibles, Doug Brown, BDSA Staff Highlights, Claire Kaufmann, Marijuana, Colorado, In the Weeds Podcast, Business

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On today's show we chat about cannabis publishing and conventions with Rob Meagher, founder of Cannabis Business Executive. We attempt to answer the question, "Are we in a cannabis publishing bubble?"

Listen to the latest podcast here.

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'In the Weeds' Episode 7: Meet Dan Anglin, Founder of AmeriCanna, One of the Top Edibles Brands in Colorado

Mar 21, 2017 10:25:33 AM / by BDSA posted in Cannabis, Edibles, Doug Brown, BDSA Staff Highlights, Claire Kaufmann, Marijuana, Colorado, In the Weeds Podcast, Business

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On today's show we yak with Dan Anglin, Founder of AmeriCanna, one of the most successful edibles brands in Colorado.  His rapid growth represents the brand trifecta -  equal parts quality product development, compelling story and positive community engagement. Learn how you can take your brand to the next level.

Listen to the latest podcast here.

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'In the Weeds" Episode 5: Cannabis Consumer Research Study - Featuring Linda Gilbert, Director of Consumer Research for BDS Analytics

Mar 7, 2017 1:58:55 PM / by BDSA posted in Cannabis, Doug Brown, BDSA Staff Highlights, Market Trends, Claire Kaufmann, Marijuana, Cannabis Consumer Research, Demographics, In the Weeds Podcast, Linda Gilbert, Business

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On today's show we yak with Linda Gilbert, Director of Cannabis Consumer Research at BDS Analytics. BDS Analytics Consumer Insights offers the only statistically significant detailed consumer survey in the cannabis industry. 

Listen to the latest podcast here.

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