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All of a sudden, the original idea of trying to understand what the consumer wants and giving that to them is not enough if a company wishes to be a market leader! Now, a company needs to also meet growing consumer demands for consistency, reliability, taste, and more. What company will take the place of both Alpha and Beta and try to gain the center podium as the most successful chocolate cannabis company in California in 2019? We don’t know the answer to that – but we DO know the best sellers will aim to reach a similar audience as the manufacturers of Corollas and Civics learned long ago.
Smoking is out. There - I said it. If you smoke cigarettes, they’ll kill you. Smoking stinks; it annoys people who are not smokers; it is indiscreet; and it is so not cool. Don’t believe me? Ask JUUL Labs why they have grown to $150 million in revenue PER MONTH with their vape device while traditional tobacco companies continue to lose market share. The only people who think that smoking is OK are existing smokers. Increasingly, new participants in the tobacco industry and in the cannabis industry are electing to not smoke. Yes, there will always be a market for it and it should be served. There is still a market for vinyl records too, but digital music is here to stay and will represent the “fat part of the curve” for music demand for the foreseeable future.
Vaping and next-gen edibles will replace most smoking over the next ten years. They have been the fastest-growing segments of the cannabis markets where legalization has occurred for some time now, in places, like Colorado, Washington and California. The same will happen in Canada beginning in 2019 when the Canadian government finally wakes up and learns that you shouldn’t have to smoke to get healthy OR even have to get really high at the same time! Let’s face it, the “fat part of the curve” for the cannabis sector is no longer those looking to get wildly stoned; rather it’s the soccer mom looking to take the edge off at the end of a long day with a relaxing and restorative outlet that is hangover free. Cannabis dosed properly and responsibly truly can be “Momma’s little helper”.
Consumers are in Charge, NOT Growers