There are hundreds of cannabis products to choose from when starting a new dispensary — and that can make inventory selection overwhelming. While you want to stock tried and true items like flower, there are other product categories that are surging in popularity that you should consider.
Even if you’ve owned a dispensary for years, you need to stay up to date on the latest trends in the industry. New products emerge all the time, and old products fall out of favor. Here’s a rundown on five popular cannabis product categories and how important they are to your bottom line.
The Most Popular Cannabis Products in 2023
While most people already know about cannabis flower, there is increased interest in learning about new infused cannabis products on the market. These products are created using an oil or butter that’s been infused with cannabis, and can include vapes, pre-rolls, and edibles.
Cannabis delivery methods have different advantages. Edibles are discrete, but take about an hour to start working, while smoking can produce a smell, but works right away. Since everyone has different needs, it’s important to give your customers a variety of choices for consuming cannabis.
Many seasoned users prefer to smoke cannabis flower. However, newer customers favor other products like edibles and oils, with only 11% of new cannabis users preferring flower. Many product categories are growing as sales boom, including edibles (52%), oils (36%), capsules (17%), and drinks (12%).
5 Cannabis Products to Sell at Your Dispensary
1. Flower
Flower is still the most popular cannabis product, both in the United States and Canada, with 59% of total sales. The profit margins for flower are high in some areas, about 76%. However, prices are falling in some parts of the country, greatly reducing profitability.
Many cannabis flower users have strong strain preferences. They might even drive out of their way or try out a new dispensary because they’re the only one with their favorite strain in stock. It’s also important to carry several different sativa, indica, and hybrid strains. If you can stock a variety of strains without sacrificing freshness and quality, you’ll make more sales.
It’s important to branch out to a wide variety of cannabis products, because flower’s market share is decreasing as other items like edibles and vapes boom with new, younger audiences. This could be because smoking can require more equipment and is not discrete.
2. Cannabis Vapes
Cannabis vapes are some of the most exciting products on the market right now. Even with recent controversies, the popularity of vaping cannabis has grown, with a 28% increase in sales from 2020 to 2021.
Disposable vapes are more popular than cartridges; they made up 64% of the vaping market in 2021. Disposables are incredibly convenient and don’t require any extra equipment. Customers are also able to try many different brands and flavors, so stocking a variety can put you at an advantage.
Profit margins on vaporizers can vary widely, but they’re easy to sell, and it seems like the market is only growing for these cannabis products.
3. Edibles
Edibles are one of the most popular cannabis products on the market right now — especially among younger customers. They’re incredibly discrete, easy to use, and they even taste good. Medical patients like that edibles contain measured doses, so it’s easy to know how much you’ve consumed.
Some of the most popular forms of cannabis edibles include:
- Gummies
- Baked goods, especially brownies and cookies
- Hard candy or mints
- Chocolate
- Drinks
Dispensary owners love selling edibles because of their outstanding profit margins, which can reach up to almost 92%. They’re also easy to stock and store, and they have a long shelf life.
Consider trying the edible cannabis products you carry. While budtenders should be knowledgeable about the company’s offerings, it’s important for dispensary owners to know what they’re selling, too.
4. Pre-Rolls
Pre-rolls allow your customers to smoke weed in an extremely convenient and accessible way, and they’ve been growing in sales every year. In 2018, pre-rolls brought in $406 million and had a 7.9% share in the market. In 2022, they reached $1.5 billion in sales and a 12.7% market share.
Customers like to have choices for their pre-rolls, including weight in grams, cannabis strain, added infusions, and package size. Offering different options make it more likely that your customers will keep coming back for more.
Cannabis pre-rolls have excellent profit margins for your dispensary. A pre-rolled joint is sold for about $2 wholesale, while most sell for about $5 - $15, or a pack for $25. In addition, some premium pre-rolled joints that contain kief or cannabis oil can sell for as high as $40.
Pre-rolls are great options for budtenders to recommend to new customers and people looking for a small amount of cannabis. In addition, pre-rolls are great cannabis products to give out as freebies at an event or as an added gift for loyal customers.
5. Cannabis Accessories
If you have the space, carrying some cannabis accessories is a no brainer. The average gross profit margin for marijuana accessories is about 50%, which can be much higher than cannabis flower in some areas.
Cannabis accessories are easy for your budtenders to upsell to cannabis newbies, and they’re fun for customers to browse through. You can also stock small cannabis products like lighters at the cash register to prompt impulse purchases.
Some cannabis accessories you might consider selling at your dispensary include:
- Grinders
- Vape batteries
- Rolling papers
- Odor eliminators
- Rolling trays
- Lighters
- Ashtrays
- Glass pieces like bongs and bowls
- Stash jars and storage containers
- Swag for your dispensary
Trending Cannabis Products in 2023
The cannabis industry is moving incredibly fast, and it’s important for all dispensary owners to keep up with the trends. Here are some items that are picking up steam this year.
Oils & Tinctures
More and more people are realizing the amazing medical benefits of cannabis. Oils and tinctures are some of the most popular products among medical marijuana users because they’re stronger than some other delivery methods. Plus, they’re used more commonly in medical studies, so users find them more reputable.
Cannabis Products with CBD
Experts believe that CBD sales could reach $11 billion in sales by 2027. Many dispensary owners worry that this boom will take money from their businesses, but it’s important to adapt instead.
You can now stock products that have a balance of THC and CBD, including gummies and drinks. Your budtenders can explain the benefits of adding CBD to a THC high. In addition, some dispensaries even sell CBD-only products to complement their THC offerings.
Infused Products
Some customers at your dispensary are only looking for the product that’s the strongest and has the highest percentage of THC. Your budtenders can steer these people towards products that are infused with cannabis concentrates to provide an extra kick.
Pre-rolls are the most popular infused cannabis product. They have a similar profit margin to regular pre-rolled joints, but their higher price point means more money in your pocket.
Final Thoughts on Cannabis Products to Sell at Your Dispensary
There’s no shortage of cannabis products you can choose to sell at your dispensary. Picking the right ones to start with is only half the battle. You need to try your inventory, monitor what is and isn’t selling, and listen to your customers to revise what to carry over time. You can also monitor cannabis trends to bring in new items and limited time items are a great way to create some extra buzz and encourage impulse purchases.
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