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Hemp: Today and Yesterday

Hemp: Today and Yesterday

Along the course of recent U.S. history, hemp has been plagued with a bad name, but its reputation and the stigma surrounding it have been more closely related to misnomers, economic and political events than its chemical composition or effects on the human body. Hemp has been lumped in with and essentially defined as marijuana for many decades. For the sake of this article, we will set aside any arguments relating to marijuana itself - whether merited or not - as hemp is an entirely separate matter.

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Brand to Watch: Grön Chocolates

Brand to Watch: Grön Chocolates

Grön Chocolate, a marijuana edibles company based in Oregon, has recently been experiencing explosive growth. The company was started by Christine Smith, a former architect who was underwhelmed by the offerings in the marijuana edibles market, specifically the chocolate products. She believed that chocolate infused with marijuana didn’t need to taste like marijuana, so she began tinkering with chocolate formulations.

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Preparing to Compete as an Edibles Brand in the Changing Nevada Market

Preparing to Compete as an Edibles Brand in the Changing Nevada Market

Sixteen years after marijuana was approved for medical use, Nevada residents voted in favor of the Nevada Legalization Initiative. The initiative allows for the sale of recreational marijuana by the start of 2018. However, the Department of Taxation already has plans to get recreational products into dispensaries by July 1. This is a significantly faster timeline than that of medical marijuana.

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Arizona Edibles Market – Increasing in Sales and Competition

Arizona Edibles Market – Increasing in Sales and Competition

With the rejection of Proposition 205 by voters this past November, Arizona dispensaries are still only able to sell marijuana products for medicinal use. Arizona marijuana sales in 2016 increased by 44% over 2015 – growing from $217.6 million to $312.9 million. The CAGR over the 2016-2020 period is estimated to be 14%.

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Cannabis Market Data, Insights and Branding: How to Succeed in a Crowded Market

Cannabis Market Data, Insights and Branding: How to Succeed in a Crowded Market

Good weed sells itself, right?  Not anymore.  Legalization has given the modern cannabis consumer the power of choice.  You can walk into a dispensary and see hundreds of different cannabis products on the shelves; it looks more like a CVS or a liquor store than the 2-3 options your dealer offered a few years ago.  For better or worse, gone are the days when you can focus only on growing good weed and expect it to do well.  Just two years ago, when we started tracking the competitive environment in the cannabis space, the top ten brands of edibles made up less than 40% of the market in most states, and the top ten concentrates brands made up less than 10% of the field in most markets!

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Rebranding O.penVAPE to Promote Expanding Product Portfolio

Rebranding O.penVAPE to Promote Expanding Product Portfolio

Recently it was announced that O.penVAPE will be rebranded as Organa Brands, allowing the parent company to take advantage of its strong reputation and distribution network. The strength of the O.penVAPE brand will undoubtedly benefit Organa Brands as it continues to expand within the Concentrates market, as well as beyond into Edibles. With a presence in nine states nationwide, many of which it commands a leading share in cartridges, O.penVAPE is one of the industry's strongest brands.

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California Concentrates Market: Where it is Now and After Prop 64 Takes Effect

California Concentrates Market: Where it is Now and After Prop 64 Takes Effect

The Concentrates category in California saw slowed growth in year-end sales from 2015 to 2016 (18% vs. 79% from 2014 to 2015). Based on Brightfield Group’s projection, 2017 year-end Concentrates sales in California should reflect a similar level of growth. However, with the passage of Proposition 64 by California voters last November, the overall Concentrates market should experience a hefty increase in year-end sales starting in 2018. This is when state officials expect to begin granting licenses to retail outlets to sell marijuana products for recreational use.

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Survival of the Fittest in California’s Edible Market

Survival of the Fittest in California’s Edible Market

In 2016, California’s edible market broke the $300 million mark for the first time after closing the year with more than $319 million in edible sales. This represents a 28% increase from 2015, and Brightfield Group projects continued double-digital growth in 2017. But, are all edible brands taking advantage of this explosive growth, or are the market leaders entrenching their market shares at the expense of new arrivals?

Using its proprietary data, Brightfield Group tracked the evolution of the top ten edible brands in California from February 2016 to February 2017. Here are our three big takeaways.

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Microdosing-- Lower dosage may be the way to go

Microdosing-- Lower dosage may be the way to go

In a recent Brightfield Group survey of medical marijuana patients in California, 37% of respondents identified "lower dosage products" as one of the top three things they would like to see in new edibles. 29% of respondents looking for THC dominant products prefer dosages of infused products with 5 mg of THC or less, compared with only 38% who prefer infused products with more than 25 mg of THC per dose.

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Don't Forget the Midwest...

Don't Forget the Midwest...

Following the election, national interest on marijuana markets have focused primarily on California, and to a lesser extent Florida and New England. This is understandable; the passage of recreational cannabis laws in these states is monumental for the cannabis industry and California’s recreational market will hit an unrivaled $4 billion in 2020 by Brightfield Group estimates.

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California Monthly Brand Roundup December 2016

California Monthly Brand Roundup December 2016

Our monthly brand roundup of California Edibles, Concentrates, Topicals and subcategories. November and December analysis results show continued dominance for established brands. However, some smaller and newer players are starting to climb the ranks in a variety of subcategories, most notably Whoopi & Maya whose sales are taking off in both chocolates and topicals.

 

 

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The Budding Oregon Rec Market

The Budding Oregon Rec Market

According to Brightfield Group analysis of NSDUH data, there are more than 570,000 adult cannabis users in Oregon, and one of the highest incidence rates in the United States. Until the launch of the recreational market, medical marijuana dispensaries were serving a population of less than 75,000 medical marijuana cardholders.

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Millennial Users: A Market Not to be Missed

Millennial Users: A Market Not to be Missed

According to data collected by Brightfield Group from over 1,200 medical marijuana patients throughout California in 2016, Millennials make up approximately half of current cannabis patients, and a whopping 39% of them use marijuana daily.

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California Monthly Brand Roundup

California Monthly Brand Roundup

Which edibles and concentrates companies are leading the pack in California? Which new products are breaking into the top ten?  In this first piece of our monthly brand roundup series, we showcase the top ten brands in edibles and concentrates and leading brands in subcategories like wax, topicals and infused drinks.  Featuring brands like Kiva Confections, Moxie Seeds & Extracts, Cheeba Chews & More. 

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Edibles Companies: Choose Your Dosage Wisely

Edibles Companies: Choose Your Dosage Wisely

Dosage decisions are important for edibles companies, particularly in medical marijuana markets. Marijuana offers a unique opportunity for patients to be able to enjoy their medicine in the form of a snack, but no one wants to try to try and measure out 1/16th of a brownie every day or have to eat 50 gummy bears to make their pain or nausea go away. 

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Legalization 2016 & The Age Factor

Legalization 2016 & The Age Factor

Which states are most likely to legalize recreational marijuana?  The short answer: the ones where it’s common for grown-ups to smoke pot. 

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Edible Insights: To Diversify or not to Diversify?

Edible Insights: To Diversify or not to Diversify?

As the cannabis industry grows, so too does its level of professionalism.  Cannabis consumers and medical patients are looking more than ever to branded infused products, and these manufacturers are beginning to look more like traditional consumer goods companies than onlookers would expect from the marijuana industry.  

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Low-Income Users*: A Worthwhile Investment

Low-Income Users*: A Worthwhile Investment

In considering potential markets to target, investors might overlook low-income consumers given their limited budgets and corresponding limited spending capacity. But to overlook this consumer group would be a mistake. According to data collected by Brightfield Group from over 1,200 medical marijuana patients throughout California in 2016, low-income users make up nearly a third of marijuana patients, are loyal customers, and tend to use more product per person than higher-income consumers do.

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Interview with a Researcher: Brightfield Group’s Unique Methodology

Interview with a Researcher: Brightfield Group’s Unique Methodology

Bethany Gomez, Director of Research for Brightfield Group talks about the organization's unique multisource methodology when conducting research on the cannabis industry. She explains how this method & Brightfield's reports help provide more actionable data for investors.

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California Monthly Brand Roundup

California Monthly Brand Roundup

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What are cannabis consumers willing to pay more for?

What are cannabis consumers willing to pay more for?

Consumers will pay more for their preferred products whether they be organic, premium, discretely packaged or something else. Businesses are leaving money on the table if they're not catering to the unique tastes of their customers and losing market share if they're not marketing the right products to the right customer segment. Get a glimpse of who wants what.

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Insights for Dispensaries: How to Build Customer Loyalty

Insights for Dispensaries: How to Build Customer Loyalty

Part 3 of 3 Insights for Dispensaries a Brightfield Group Survey details how cannabis stores can build customer loyalty. What customers want and what they value in terms of price, selection and other insights.

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Insights for Dispensaries: The Importance of Budtenders

Insights for Dispensaries: The Importance of Budtenders

Part two of our series exploring how dispensaries can build patient loyalty and customer satisfaction. Here we focus on the importance of budtenders not just to dispensaries but also to manufacturers. Brightfield Group surveyed more than 500 medical patients and adult consumers to understand the impact budtenders have on consumer purchases.

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Insights for Dispensaries: Converting the Black Market Consumer

Insights for Dispensaries: Converting the Black Market Consumer

How do you build a loyal patient or consumer base?  How do you convince black market consumers to buy from your dispensary?   How important are things like product selection and budtenders to your operation? 

To answer these questions and more, Brightfield Group surveyed more than 500 medical patients or adult consumers in recreational states.   We explore the results in this three part series exploring the topics of winning over new consumers, the importance of budtenders and brand loyalty.  

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Consumer Loyalty in Cannabis Patients: Top Five Takeaways

Consumer Loyalty in Cannabis Patients: Top Five Takeaways

As the variety of cannabis products on the market expands, so too does the competition between companies to win the loyalty of cannabis patients.  So what drives loyalty amongst medical marijuana patients and how can companies earn this loyalty?  To find out, Brightfield Group surveyed more than 400 medical marijuana patients in California.  

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Ranking Of Best Places for Cannabis Investment - #1, Colorado

Ranking Of Best Places for Cannabis Investment - #1, Colorado

Colorado’s legal marijuana marketwitnessed explosive growth in 2014, with sales increasing by nearly 82% thanks to the opening of the recreational market. The price of marijuana in Colorado is currently quite high but its stability has been called into question, particularly because supply and pricing issues are not new to the state, thus both should be monitored carefully by manufacturers and retailers interested in investing here.

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Ranking Of Best Places for Cannabis Investment #3, Arizona, Part-2

Ranking Of Best Places for Cannabis Investment #3, Arizona, Part-2

Unlike many states where MMJ is legal, Arizona still has licenses left to be granted, and in smaller population areas, dispensaries run into almost no competition. Even the largest metro areas have only a few dozen dispensaries, compared with the hundreds present in larger cities outside of Arizona.

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Ranking Of Best Places for Cannabis Investment #2, Oregon

Ranking Of Best Places for Cannabis Investment #2, Oregon

Marijuana use is very prevalent in Oregon. At the time of this writing, less than 3% of Oregonians over the age of 21 hold medical marijuana cards, while national survey (NSDUH) data indicates that 25% are marijuana consumers – a higher rate of cannabis consumption among adults than nearly any other state in the country. 

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Health & Lifestyle in Cannabis Patients: Top Five Takeaways

Health & Lifestyle in Cannabis Patients: Top Five Takeaways

As marijuana users are well-informed, it is important to treat them as such. Cannabis vendors and investors should be using the latest research to their advantage, keeping up-to-date on studies and news, and where possible, leveraging these to appeal to a larger market. 

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Technology Use in Cannabis Patients: Top Five Takeaways from California Medical Patients

Technology Use in Cannabis Patients: Top Five Takeaways from California Medical Patients

Technology has clearly become a tremendous force in the daily lives of cannabis users and will certainly play a role in the future of marijuana sales and success, especially given how many users are willing to purchase MMJ products over applications (see Insight #2). Cannabis investors should be very cognizant of the influence of technology on advertising and marketing and sales – especially as online sales platforms become more popular and accepted – and leverage it whenever possible to maintain a competitive edge.

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Explosion in Branded Cannabis Products in Washington

Explosion in Branded Cannabis Products in Washington

What’s also interesting and hints at future market trends is that while edibles and concentrates currently make up only a third of statewide marijuana sales, together they account for almost 60% of the state’s brands.

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Ranking of Best Places for Cannabis Investment - #3, Arizona

Ranking of Best Places for Cannabis Investment - #3, Arizona

Legal rulings and additional qualifying conditions are fueling a boom in Arizona MMJ sales. Cannabis sales increased by 36% between 2014 and 2015, and are expected to increase by another 44% between 2015 and 2016

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Ranking of Best Places for Cannabis Investment - #4, Nevada

Ranking of Best Places for Cannabis Investment - #4, Nevada

Making it halfway through our countdown to the state with the best cannabis investment opportunity, we come to the great state of Nevada.

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Ranking of Best Places for Cannabis Investment - #5, Washington

Ranking of Best Places for Cannabis Investment - #5, Washington

The second installment of our series examining and ranking the states with the best cannabis investment opportunities.  Brightfield Group provides actionable intelligence that companies can use to grow their businesses in the exploding legal marijuana sector. For more information contact us by email, phone (866-395-9661), or subscribe to our portal.

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Dispensary Turnover Rates

Dispensary Turnover Rates

Among the many dispensaries surveyed during the initial phase of our market research in April 2015, we selected a random sample of dispensaries from each market with the aim of understanding the rate at which dispensaries closed over a period of approximately six months. 

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Ranking of Best Places for Cannabis Investment - #6, California

Ranking of Best Places for Cannabis Investment - #6, California

This is the first of a series of posts where we will examine and rank the states with the best cannabis investment opportunities.  

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