Ten days ago, Nevada opened up their recreational cannabis dispensaries. More than 40 dispensaries are open for business, with a few operating within the Las Vegas Strip. Sin city just got a lot more sinful now that cannabis is legal to purchase. Gambling, alcohol, and even prostitution were some sinful pleasures that made Las Vegas so amazing.
So what has actually happened 10 days after legal sales received the green light? Was cannabis a big hit that Nevada thought it would? What’s the progress on the legal cannabis market so far?
Well folks…it’s even BETTER than I anticipated. Not only did the recreational market become successful, but Nevada is now dealing with a supply shortage. You can’t make this up, people…Nevada is LITERALLY running out of supply!
Within less than two weeks of opening, most dispensaries are already running out of cannabis. Lines formed out of the door since Sunday morning, filled with anticipated customers waiting to get their hands on legal cannabis. Even Essence Dispensary, which is a few feet away from the Las Vegas Strip, had customers lining up for HOURS after legal sales begin. Businesses can’t keep up with the supply because cannabis is selling like hot cakes! Even with the limited amount of communications strategies utilized for the cannabis industry, the demand for legal cannabis skyrocketed instantly.
But wait, it gets even more ridiculous. Nevada governor Brian Sandoval helped endorse the call for a “state of emergency”, allowing for more licensed distributors. The large demand for cannabis has become so outrageous that even the Nevada governor is fast-tracking the approval process just to keep business flowing!
Before we start freaking out about cannabis shortages in Nevada, let’s remember one thing…what’s happening is AMAZING right now. Think about this for a second: Las Vegas, a booming city where a majority of their economy relies on their 40 million tourists each year, has people flocking for the cannabis. Cannabis is bringing in more audiences, more income, and generating more positive buzz around the state of Nevada.
Quantity goes along with the supply of the commodity (how much is actually spread out) while quality works with what the consumers are demanding (what audiences want with their commodity). Customers have already been more than pleased with the demands, so businesses just have to work harder on generating more of the supply. The hard part is over (raising awareness of cannabis dispensaries so that customers take action) and now we simply must produce more of the popular cannabis commodities.
Nevada dealt with a bad PR nightmare with their High Times Cup disaster (read more on that nightmare here) and now they are shining with this glorious PR miracle! Keep in mind that what you’re seeing is NOT a mirage – Nevada is really striking rich with cannabis. I can safely say that Nevada truly hit the jackpot with this industry.
This was fantastic news to hear! I knew that the cannabis industry would hit big in Nevada and I’m shocked to hear about the supply shortage. The state of Nevada will have to keep up with their supplies soon before customers migrate to other legal states (like Colorado or Oregon!).
It’s been less than two weeks and the demand for legal cannabis skyrocketed in Nevada. California is set to conduct legal sales in less than 6 months, so the competition is going to be FIERCE within the western region. Nevada is already competing with Colorado, Oregon, and even Washington state in terms of the cannabis industry. Throw California into the mix and it’s an all-out business war (we ARE talking about the ‘Wild Wild West’ part of America btw!).
Who knows what will go down in the western region now that a majority of states provide recreational dispensaries. One thing’s for certain – whatever occurs in the western region will echo over to the eastern region as well. Massachusetts will open their shops in July 2018 and they’ll have to compete with Maine in the meantime.
Now is the time for the cannabis industry to truly shine all across the country.