MJBizMag November-December 2022 - 80

Flying Off the Shelves
Glass Half Empty?
Beverages struggle to gain footing-and market share-on crowded
marijuana retail shelves
By Omar Sacirbey
C
annabis-infused beverages
receive a lot of hype when they
are rolled out, but they seldom
turn out to be the hit their financial
backers expect.
According to Bethany Gomez,
managing director at Chicago-based
market research firm the Brightfield
Group, many executives inside and
outside the cannabis space have the
mentality that their target consumers
are exactly like them. But that's often
not the case.
" We see that play out in the drinks
space a lot. You hear so often with
drinks that we're targeting the future
user, the curious, the newbie. That's
why beverages are such a small part
of the market. That consumer is a
teeny-tiny percentage of the market.
And they're not buying drinks, " Gomez
said. " The drinks consumer is not a
new user, it's not an occasional user, it's
a heavy user that's adding that in on top
of their other five or six products. "
Gomez added: " A lot of the (beverage)
business strategy has not been based on
strong consumer data. It's been based
off of a lot of assumptions that are not
playing out in the market today. "
Lance Mathis said beverages have
been a struggle at Inyo Fine Cannabis
Dispensary, a Las Vegas marijuana store
where he is the store manager.
Beverage sales were better a few
years ago, when Inyo sold Dixie Elixir
cans that contained 100 milligrams of
THC, Mathis said. But sales have waned
78 November-December 2022 | MJBizMagazine
as more beverages have capped potency
at 10 milligrams per can.
" The way that this market is built,
everybody was trained on wanting the
strongest, most potent products, " Mathis
said. " The main problem with drinks
in our market is nobody understands
the micro-dosing sector enough to even
want to tap into it. They just go straight
to the highest-testing, most potent one. "
Headset analytics manager Cooper
Ashley said that, " last time I checked,
100-milligram package sizes were about
60% to 65% of sales within the beverage
category, " he said. " More often now,
those products are physically as small as
possible, like the size of 5-Hour Energy
shots. It's a portable, discreet, efficient
way to get THC. "

MJBizMag November-December 2022

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