As legalization spreads, luxury weed has found a strong footing in the United States. But how is bud classified as the best of the best?
A high-end cannabis product should have the following characteristics:
- Rare, coveted plant genetics
- Organically-grown weed
- Production methods you can reliably trace
- High-THC content
- Other artisanal ingredients
- Exclusivity — available only to a few buyers
Unsurprisingly, luxury weed products have a higher price point than regular mid-range cannabis. The sky really is the limit — in July 2022, Cannabis Caviar was considered the most expensive weed strain in the world, at over $1,400 per ounce.
What Are Current Luxury Trending Cannabis Products?
- Promoting the entourage effect and the benefits of using the whole cannabis plant
- Disguising the hemp flavors of weed with luxury ingredients
- Discretion — accessories or containers that can be tucked into a handbag without drawing attention
- Growing cannabis strains outside, with all the exclusivity of a fine wine terroir
- Culinary experiences, such as gourmet tastings, dress-up parties, and seasonally-focused menus
What’s the Target Consumer Demographic for Luxury Weed?
Luxury brands tend to really “niche down” with whom they’re marketing to.
A popular niche is the first-time user who feels overwhelmed when they enter a dispensary. They’re often “canna-curious,” growing tired of alcohol, or simply open to well-made products that will help them feel better. Increasingly backed by the health and wellness industry, luxury cannabis brings the message that this plant helps more than it harms. And luxury brands tick both boxes by marketing products in terms of their effects on the mind and body rather than getting technical with THC percentages or specific terpenes.
Luxury weed brands often feature gorgeous package designs, and the best marketing money can buy. By producing centerpiece products that the buyer can be proud to show off, they help to normalize adult cannabis consumption in our society.
Luxury cannabis also targets users who want consistency — to know they’re getting the same high-quality product each time they part ways with their cash.
What’s It Like to Carry High-End Weed in Your Dispensary?
Every dispensary claims to stock top-shelf weed. But what’s it like to sell real luxury cannabis?
You’ll probably draw new demographics to your store, especially when customers see the beautiful colors and smell the rich odors of cannabis with good genetics. This should improve your reputation as a dispensary that cares about selling high-quality products.
But you should decide how much top-shelf cannabis to stock based on your own local market research. If your dispensary is full of expensive ganja and doesn’t match the financial resources of your community, you’ll drive long-time smokers out and back to the black market.
How Can You Source Luxury Weed for Your Dispensary?
Head to an online marketplace like Leafly and browse their wholesale directory. Under your state, search across a range of product types for those with a higher price point. As quality is a priority here, it doesn’t hurt to ask suppliers for a sample before you commit to a purchase.
Once you know which top-shelf weed products you want to stock, reach out to Bespoke Financial for help with financing expertise, fast and flexible business loans, and much more.
