CHICAGO (May 6, 2020) - Cost-effective pack sizes and dosages launched in Q1 are seeing greater distribution during COVID-19. Data obtained with Brightfield Group’s Innovation Insights Portal spotted this trend in Q1, with products like .3g vapes and edibles with 50mg per pack increasing their share of shelf.
Brightfield Group is seeing companies expand their vape lines to include smaller sizes at lower financial entry points and predicts this trend will continue as the economic recession strains disposable incomes. Dispensaries will look to stock cannabis items that their customers can purchase even with limited money to spend.
“As the economy moves towards a recession, consumers will have less to spend on cannabis, but that doesn’t mean they won’t want to buy cannabis,” said Andy Seeger, Cannabis Research Manager at Brightfield Group. “Giving consumers multiple buying options for less money can drive sales by providing options for those facing money constraints and would otherwise be priced out of the market.”
For further analysis on product innovations, Brightfield Group’s new Innovation Brief on trending budget products highlights specific products exemplifying these trends.
About Brightfield: Brightfield Group is the leading consumer insights and market intelligence firm for the CBD and Cannabis industries. They work with well-known brands, manufacturers, and agencies across the world, providing strategic data, insights, and guidance for these dynamic markets. Leveraging a unique multi-source approach, Brightfield Group delivers a holistic, forward-looking view into the everchanging brand, market, and consumer landscape.