Pre-rolled joints experienced huge growth during 2016, with sales of $158 million between Colorado, Washington and Oregon, representing growth of 149 percent compared to 2015. In Colorado, sales were up by 61 percent, in Washington by 278 percent and in Oregon by a jaw-dropping 282 percent.
By Doug Brown | June 12, 2017 | For Cannabis Business Executive
The dispensary marketplace is a lively bazaar, with established brands and entrepreneurs every day coming up with new products — everything from chewing gums to nasal sprays to CBD-packed concentrates and massage lotions.
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.
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.
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.
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!
Want to see the video first?
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.
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?
Among Colorado, Washington and Oregon, edibles ranked #3 in terms of market share of dollars sold during 2016, capturing 12 percent ($269.8 million) of the $2.33 billion cannabis market. Flower leads with 58 percent of the market, followed by concentrates at 20 percent.
By Claire Kaufmann | February 20, 2017
By Rob Hill | January 9, 2017 | MG Retailer
By Doug Brown | January 10, 2017 | The Cannabis Business Times