Did you know drinks only made up 1% of total #cannabis sales in Q1? This recent article on Cannabis Business Times shared some fascinating stats from BDSA: 75% of edible consumers say they had gummies in the past six months… While only 8% say they had a beverage. My question is: What about hemp beverages? Would those numbers change? Here’s what we’re seeing with #hemp e-commerce brands and cannabis dispensaries: The most popular edible they’re selling are gummies. However! Drinks are an exciting category and something we have seen more interest in (especially as more people are searching for healthier alternatives to alcohol.) Do you think drinks could ever surpass gummy sales? #cannabisbusiness #hempproducts #infused #cannabisindustry #wellness #cannabiscommunity
Justin Frytz
6mo
CT just formally allowed hemp beverages into liquor stores and levied a tax. This will create a more easy way to obtain drinks and get them in front of more traditional customers. Drink consumers don't go to dispensaries. The other reason is dispensaries do a crappy job of merchandising drinks too. Hemp thc drinks are accounting for 12-15% of all liquor stores sales in MN right now. This will create more trade up customers that want higher dosages.
Yup. It's been this way since I've been in the industry. I keep hearing the Bev hype but the numbers aren't there. Maybe people just don't want to drink their weed?
Chuck Kreiman
6mo
Cannabis drinks are still a one and done kind of thing, even for repeat buyers. What I mean is, a consumer of alcohol can drink multiple units in a single session. With the THC infused beverages, not many folks are going to drink more than one in an outing. Consumers are rightly scared that they won’t be able to drive after more than one.
Chef Michael
6mo
Consistent comments for sure since drinks started to hit the market. Drinks are a challenge because some people don't want to drink 16 ozs of liquid for a 10mg THC serving. Not to mention all the sugar content in some drinks, poor taste & formulation issues with emulsion separation. I personally like Keef Brands. They were the 1st in Colorado and are multi-state. They offer 10 mg & 100mg THC servings and there products taste good. I'll drink one now & then Rachel Garland
Diane Kessler
6mo
Cannabis beverages do great at my store!
William Edwards
5mo
It seems like the hemp beverage market is the “acceptable” transition from alcohol into a more even playing field for cannabis.
Roxanne Jennings
6mo
I just don't believe the dispensaries are the right sales version. Non smokers are purchasing a ton of infused beverages in states that allow it to be sold in the liquor store. The vast amount of people will never set foot in a dispensary. Those people veiw drinking their cannabis exactly the same as their alcohol, it's more viewed as celebration that way.
Colin Clark
6mo
It's like the CBD market the first 5 years, far more interest from investors than from consumers. THC drinks are a novelty, always have and always will be, there is just more corporate interest now because people think since they can weasel their way into places like Total Wine that more people will buy them, but exposure and access is not the problem...its the fact that only a very small minority of people consistently consume thc via beverages. You'll get a lot of first time buyers and very little repeat business.
Cannabis & Psychedelic CFO | Founder, Dope CPA | USAF Veteran | ADHDoer | Mother | Shitty Surfer |
6moI would personally like to see more drinks and be able to consume socially in a setting with peers who are drinking alcohol. It’s hard to go out and not have that thing in your hand that you’re just sipping on, like a comfort blanket. We are seeing a big decline in the generation coming of age on spending in the alcohol segment. Perhaps drinks will die off as canna becomes more socially acceptable. Or perhaps it will rival alcohol. I think my generation is more accustomed to socializing at bars, but maybe that will change to consumption rooms. Or a hybrid.