E-cigarettes first entered the US market back in 2007. These electronic devices looked taller than a regular cigarette, with some products providing a button on the side. Users inhale the juice from the cartridge and exhale clouds of smoke afterwards. These e-cigarettes gained nationwide popularity, sparking a new culture that would be the vaporizer community.
Vaporizing nicotine has become the newest trend among smokers. People are stomping out their paper cigarettes and taking in their daily dose of tobacco from vaporizers. The spike in popularity has caused a decrease in cigarette sales and cigarette use among teens has plummeted over the past few years. It may seem like trading in one bad habit for another, but it’s interesting to note how a unique twist on the product design can radically alter other businesses’ yearly sales.
As vaporizers continue to be on the rise, the strategy to move into more niche markets becomes more prevalent than ever. Smoking is quickly being replaced with vaporizers as more specialty shops open up around the country. One niche market that is already growing in popularity is the cannabis industry.
California-based medical cannabis delivery service Eaze recently released a detailed report highlighting various data about the cannabis market. Eaze is based in San Francisco, providing service to over 250,000 customers with an order taken down almost every 30 seconds. They have seen a dramatic spike in sales between 2015 & 2016, especially with vaporizer products.
Flowers continue to be the dominating product to order, but the numbers lie within vaporizers. There has been a 400% growth in vaporizer use for 2016, with about 1/5 orders containing a vape product. Vaporizer cartridges started with a sluggish start in 2015 and sales started taking off in the latter half of 2016.
Investors call vaporizer cartridges ‘consumables’, a type of commodity that would be used up relatively quickly. You keep the vaporizer battery itself, but the strategy lies within selling the cartridges as its own separate product. This marketing concept mimics Gillette’s ‘razor-and blades’ strategy where people bought one razor while purchasing new blades every 2-3 weeks. Just like Gillette’s blades, the cartridges are the main selling point of the vaporizer option.
So what does this mean for the cannabis market? Could vaporizers become the dominant cannabis product in the next 5-10 years? Would consumers switch from the classic doobie to the modern cannabis vaporizers? What would this mean for cannabis-infused edibles?
It’s less likely that cannabis flowers will be leaving the shelves anytime soon, being that more states continue to legalize recreational cannabis use (like Massachusetts!). Baby Boomers are the fastest-growing audience in the cannabis spectrum and they still enjoy the old-fashioned doobies they smoked back in the 60s/70s. Either way, it’s interesting to note what affect the vaporizer community has on the cannabis market. Who knows what the future will hold for flowers and edibles as vaporizer cartridges continue to skyrocket each year.
This report was interesting to look at! I’ve seen a lot more vaporizer products around Boston nowadays and I can’t believe how popular they’ve become. There are a lot more vaporizer shops in the city since the vape culture took off. While this may seem like a strange trend to some, I do think it’s great that cigarette smoking has decreased over the past few years.
As we drudge along to the digital age, old-fashioned commodities like cannabis adapt to the technological changes as well. What was once considered a hazardous plant to smoke has now become technologically adapted into the 21st century. Still, people continue to enjoy the classic method of rolling up cannabis flowers into a joint/blunt. We will have to keep watch of the cannabis market over the next few months.
If cannabis had a slogan in the digital world, it would probably be ‘Vape Weed Everyday!’