2020 has drastically changed every aspect of human life and that includes the Cannabis industry. For decades, marijuana enterprises has been fighting for legalization all over the world, and even in the US, the battle is still uphill.
Just like many industries, the cannabis trade is a volatile market, and so many aspects of it can change in one night. That’s why it is important to keep up with the undulation of the times to better position yourself to make a profitable business.
Cannabis Trends To Watch Out For In 2021
With each passing year, the cannabis trade has been growing and constantly draws many consumers that it’s pretty hard to keep up with the demand and their preferences. As per the Inyo Las Vegas Dispensary, aside from the market behavior, one has to match the pace of new production methods to still be playing on its stage. So what are the trends telling us about?
Highest THC % Produce Wins the Race
Just like mobile tech moguls with their high-end cameras and super slim phone models, cannabis consumers are now angling to experiencing more “high” with a lesser price tag on it.
Brands, growers, and breeders have to find a way to keep people happy by increasing the THC strain on their products. To do this, they have to team up with innovative cultivators who can tweak up the strains in a cultivar to give it a higher sensation than what is found in the market but still has to keep it safe for its users. Pretty high standing order even to very talented cultivators out there.
COVID-19 Implications
With the onset of COVID-19, almost all industries were closed down except for some who were deemed essential. Luckily for the cannabis retailers, cannabis was regarded as essential amidst the series of lockdowns and restrictions.
However, because of social distancing and still the ever-growing infections caused by the virus, the playing field was slightly changed to delivery services and online banking. Even with Pfizer and Moderna’s vaccine on the way to different states, it’s still looking as if people will need more time to feel safe and go about their daily lives again. So it is imminent that every dispensary has an effective delivery system with all the safety protocols afforded by employees. Moreover, online merchandising should be fast-tracked if you want to sell your goods. And having an efficient online banking system would be nice.
Legalization Working Its Magic
The cannabis industry has just tipped the scale with 36 states and 4 territories having cannabis regulations currently in place. It will just be some time when everybody joins the fun.
Recent news from the state of New York disclosed that Gov Andrew Cuomo is looking at marijuana to be levied and regulated for the Big Apple’s economic recovery this 2021. This is following New Jersey and Pennsylvania both creating measures to legal cannabis. Cannabis businesses may have their best year ever yet.
Industries have their peaks and lows and a wise business owner has to ride the tide if he doesn’t want to drown. While cannabis is seeing its light this 2021, everyone has to keep up with the regulations, consumer behavior, and all other trends to make it for the next coming years.
