Oregonians’ Taste in Edibles Evolving

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The bakers and confectioners, cooks, tincture-wizards and chocolatiers in Oregon who infuse their treats with weed don’t have it easy.

One month, the pot consumers of the Beaver State go nuts for bars of chocolate, but then they pivot to gummies. Understanding the consumer whims of marijuana-munching Oregonians demands close attention to sales data.

Candy and chocolate used to battle it out for market supremacy, but no more.

Back in January of this year, Beaver Staters were all-in for chocolates, which commanded 41 percent of the market on sales of $1.2 million according to cannabis data analytics firm BDS Analytics. Eighty percent of their chocolate dollars went towards bars, and the rest were spent on chocolate pieces. Candy, meanwhile, held 30 percent of the market, with sales of $900,000.

Fast-forward seven months to August, and the state’s consumer preferences for edibles has transformed. By the end of the summer, Oregonian edibles consumers spent more than half of their money — 51 percent — on candy. The growth in sales was fairly phenomenal — from $900,000 in January to $4.25 million in August. Market share for chocolates, meanwhile, plummeted by more than half, to 20 percent. But while market share for chocolates declined precipitously, sales actually grew, from $1.2 million in January to $1.7 million in August. This represents solid growth; it is eclipsed, however, by the growth in candy.

Credit the mighty gummy for the dramatic spike in Oregon candy sales. In January, gummies represented 55 percent of the candy market, on sales of $500,000. Taffy, with 28 percent of the market, saw sales of $252,000 during the month. But by August, gummy’s share of the candy market rose to 73 percent, and sales rocketed up to $3 million — that is 600 percent growth in gummy sales between January and August. During the same period, sales of taffy dipped to $239,000 and the category’s market share fell off a cliff, down to 6 percent. By August, the No. 2 candy no longer was taffy; instead, mints captured 11 percent of the candy market, on sales of $450,000. In January, sales of mints were below 1 percent.

While candy, and especially gummies, receive all of the fanfare, clever cannabis entrepreneurs should pay attention to tinctures.

The category experienced $560,000 in sales in January, but consumers kept buying more and more of the dropper and spray bottles filled with combinations of THC, flavors and sometimes CBD. By August, sales of tinctures roughly tripled, to $1.7 million.

The edibles ride is a wild one in Oregon. Do not remove those seat belts.

The post Oregonians’ Taste in Edibles Evolving appeared first on Cannabis Business Executive – Cannabis and Marijuana industry news.

Source: Cannabis Business Executive

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