Cannabis 2.0 Products Flying Off the Shelves
Retailers Report Limited Selection, Quantity to Start – LPC
Cannabis 2.0 products are selling out quickly where they are available across the country. John Arbuthnot, CEO of the Winnipeg-based Delta 9 Cannabis, said edibles and vapes have been a big hit with customers.
“Products are selling incredibly well, in some cases as fast as we can get them onto shelves,” said Arbuthnot. The company announced it made about $53,000 on cannabis 2.0 products including edibles and vapes. During a five-day span, that accounted for roughly 9.5 per cent of sales. Vapes sold slightly more than edibles (51 per cent vs 49 per cent). However, it’s hard to say whether that was due to preference or limited quantities.
“It’s incredible to see the number of people who are coming into stores just seeking these type of products,” Arbuthnot said. He added that he expects another surge in sales once topicals and cannabis beverages hit the market.
Meanwhile, in Vancouver, City Cannabis sold out its cannabis 2.0 products the same day, according to assistant manager Kaity VanSnick. The store received 60 packages each of Aurora’s sea salt caramel chocolates, dark chocolates, mints, and disposable vape pens.
“People had been raving about (cannabis 2.0 products) all year,” VanSnick told the Vancouver Sun.
Initially, cannabis 2.0 products were only available in BC through its government website. There are 260 products expected, though only a fraction was available at launch. More will be rolled out during 2020.
Retailers in Nova Scotia also reported selling out of many edibles and vapes.
Three Cannabis 2.0 Products Takeaways – LPC
There are several takeaways during the first week of cannabis 2.0 products:
- The success so far of edibles and vapes is reassuring to analysts who are predicting a cannabis bull market in 2020 on the strength of cannabis 2.0 products
- Edibles and vapes are not yet available in all provinces including Ontario, Quebec, and Alberta, which require provincial review of products
- Vaping illness, which was in the news so much in 2019, doesn’t seem to be deterring sales
It’s difficult to know exactly where cannabis 2.0 products will go in 2020. But with such strong initial sales, there is plenty of reason for optimism.
This editorial content from the LPC News Team provides analysis, insight, and perspective on current news articles. To read the source article this commentary is based upon, please click on the link below.
