U.S. Cannabis Industry Outplays Taylor Swift and Post Malone

So far in 2024, one of the top played songs (according to Billboard 100), is Taylor Swift’s and Post Malone’s “Fortnight”, with 225,695,235 active players.

Despite these head turning stats, I’m willing to bet I’ve heard, “the U.S. cannabis industry is in a downturn” more times than that. While I’d love to dive into the intricates of pop music, I must admit that I might like smoking weed more. More importantly, I want to keep using quality cannabis, and I want to rest assured that Oregon’s hardworking business owners are getting the attention they deserve, in a time that most calls for it.

A less inviting statistic is how since 2022, operator profitability has fallen from 42% to 24%. This in part to delinquent payments and receivables, that cause a cycle of debt collection and broken bridges. But again, I’m not here to talk about what we already know. Instead, I’m warning cannabis lovers what’s at stake, and encouraging them to support the brands they love, and to intentionally integrate cannabis products. So, what can consumers do?

Buy More Weed

During the industry’s holiday on April 20th, dispensaries saw lines going out the door. This is a once-a-year event, and sales tend to decline immediately after every 4/20. The point is: staying stocked helps the industry. If you aren’t into a buzz or have testing restrictions, not all cannabis products get you high OR put weed in your system. Products like lotions and balms simply leverage the power of the plant for medical uses such as pain relief and other health concerns, and don’t enter your system.

Here are some note-worthy dispensaries waiting for you to pop in:

Avoid Online Out-Of-State Products

DON’T buy cannabis products online that are from out of state manufacturers. You can’t be assured that what is listed online is what you will get, in terms of percentage, pesticides, and product quality. Many state regulations range from lax to heavily regulated and are newer to the industry and have much less experience creating up-to-reasonable-code products. This leaves room for issues to occur once ingested or to get stuck with a bunk product. CBD, CBN, etc., can all be found in your nearby dispensaries. It’s a small way to adjust your consumer habits to support local brands and retailers, and purchase from trusted sources. While Delta 8 hemp products are banned in Oregon, there’s no benefit to those products that you can’t get with regular Delta 9 in your local dispensary.

Having access to delivered cannabis is however, essential. You shouldn’t go to a dispensary if you are feeling ill, (budtending is a high-risk occupation for contracting viruses), and if you simply don’t have a safe way to transport yourself to a dispensary. Should you require an online source for whatever reason to deliver cannabis products, take a look at these (Portland) delivery services:

If you’re outside the Portland area, there are other delivery services that likely serve your local market.

Avoid Legacy Market Sources

This might be an unpopular opinion, but there is no doubt that legacy production harms the legal market. Consumption wise, illicit prices tend to be higher due to the risk factor and are also unregulated and therefore not always tested, or not reliably tested. You can’t guarantee what you are smoking or otherwise ingesting is safe. Additionally, turning to traditional sellers takes away from fully compliant owners who are struggling to make ends meet.

Gift Weed to Friends and Family

Oregon law allows consumers to gift up to an ounce of flower, 16 ounces (about 453.59 g, which is a lot!) of concentrates or concentrates in vape form, and a healthy amount of edibles. To be exact, 16 ounces of edibles in solid form, and 72 ounces of edibles in liquid form. For birthdays coming up (assuming you and they are both 21 and over), or any gift-giving event (same age restriction), stop by your neighborhood pot shop or delivery service to include some fun present stuffers. Purchasing lighters, papers, or rolling trays could go a long way.

Struggling Cannabis Businesses Should Consider Selling

This is the one suggestion that excludes consumers, but is still on the topic of supporting local businesses, particularly the ones who’ve exhausted all energy and resources and are likely looking for a way out. For those looking to sell and aren’t sure whether they qualify or where their business stands, The Kush Report answers questions including pricing and evaluation, exit strategies, business financing or any other subjects related to the purchase or sale of a cannabis or hemp business. If you do end up getting an offer, it’s a good idea to hire a lawyer to draft agreements and shepherd the application process through. We will be sorry to see you go.

Bottom Line

Bottom line is—while Taylor Swift and Post Malone may be crushing us in numbers, consumers do hold a lot of power in determining where the industry heads.

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