Concentrates Sales Are Rising Across U.S. Cannabis Markets. Why?

Cannabtimes

<![CDATA[While the world turned upside-down in the spring of 2020, the general profile of cannabis consumers began shifting as well. “There was a significant amount of new customers,” Socrates Rosenfeld, co-founder and CEO of online ordering platform I Heart Jane, says. This pointed to a growing comfort with the idea of cannabis, particularly among those who perhaps hadn’t tried it in the past or hadn’t consumed anything beyond flower. “Product discovery was another trend. We saw people adding new products, new complements or substitutes to their cart. That was really interesting.”With 500,000 SKUs on the platform, consumers across the U.S. have been able to settle into the shopping experience from their home. “We’ve seen a lot more activity and searches and adding multiple items to a card, comparatively shopping, within category and cross-category,” Rosenfeld says. New product silos—like concentrates, in particular—have been rising in the sheer number of sales transactions over the past year. This coincides with the ascent of online ordering and curbside pickup more broadly. On the retailer’s side of the transaction, this means more data—which allows for a more nuanced approach to purchasing and inventory tracking.Before March 2020, Rosenfeld says that I Heart Jane was tracking 17% online ordering across the U.S. As the quarantine lifestyle became the norm, that stat jumped to a peak of 50%. “That’s held steady, six, seven, eight, nine months,” he says. So, with more sales coming from digital platforms and more customers getting acquainted with concentrates, what can retailers do to capitalize on this trend?“Really, it starts with flower,” Rosenfeld says, pointing to the inhalation aspect. “That’s really the threshold into concentrates.”It’s important for retailers to understand that customer flow, however. Whereas budtenders can help guide the individual customer through the physical space of a dispensary, that process is a bit…

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