You could call it “recession weed” or generic-brand cannabis. Either way, some legal pot suppliers are prioritizing low prices and no-frills packaging as job losses across the United States continue to mount.
As a result of coronavirus-related lockdowns, the country has lost more than 20 million jobs, putting us at Depression-era levels of unemployment.
This has led retailers of every stripe to reduce prices, including cannabis providers. Dispensaries and pot shops have both been using new branding and discount sales to attract consumers who are going without their normal cash flow.
One example is Cresco Labs in Chicago, which recently created a new bulk label called “High Supply.” The company’s wares include half-gram pre-rolls, as opposed to the standard full gram and lower potency “popcorn nuggets” instead of full-size buds, all packaged in simple brown cardboard and. As you might expect, High Supply products come with a relatively lower price tag.
“It is, in many ways, the response to the world we’re living in,” Cory Rothschild, senior vice president of brand marketing at Cresco Labs, told CNN.
The cannabis industry is still new in much of the country, and a large part of branding has depended in the past on flashy products which attract the “canna-curious” and separate a given company from all its competitors.
Now, price is becoming a central concern for cannabis producers and retailers who hope that low costs will keep their customers from straying into traditionally cheaper black market weed during the recession.
“This is challenging in newer markets where costs of production are so much higher, but it will be the key to really scaling the legal market,” said Bethany Gomez, managing director of cannabis market research company Brightfield Group.
Photo via Flickr/Cannabis Urlaub