Launching a Brand? Here’s Some Data to Consider – August 2021 Monthly Playbook

Launching a Brand, 8th Revolution
Launching a Brand, 8th Revolution

Note:
Figure 1. 2021 retail cannabis sales data by product category from
New Frontiers and Headset data.

Table 1. Consumer Survey data displaying preferences of CBD sorted
by use case and product type.

CBD industry

Flower continues to dominate as the leading category of products, making up over 50% of all products sold at dispensaries. According to New Frontier data, Maui Wowie, OG Kush, and Gorilla Glue are among the top three strains. Vape pens are a close second, and topicals and tinctures come in last, making up 3% of the market share for THC products. Topicals and tinctures only hold 3% of the market share for THC products.

This is in stark contrast to the CBD industry where the top product for all consumers is tinctures. We believe the difference in consumer preference is tied to the demographic of individuals consuming THC vs CBD. CBD does not have any psychoactive effects and is currently viewed as a supplement / vitamin / wellness alternative.

Due to this divergence, we advise our clients to understand which industry they want to focus on when launching a brand If your company’s goal is to own a brand which can acquire market share in both the THC and CBD industry, then we recommend launching an edible brand. Edible products show great promise and have a significant market share across both THC and CBD industries.

Launching a Brand, 8th Revolution

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