In 2016, consumers were increasingly willing to spend more on edibles products over the course of the year.
According to research from BDS Analytics, a leading market research and data analytics firm in the cannabis industry, the spending habits of cannabis consumers fluctuates quite a bit for different types of products, such as concentrates, flower, and products within individual channels.
Edibles provide one of the more interesting looks at what can only be described as a volatile market for pricing. At the beginning of 2016 in Colorado, Washington and Oregon, the most popular pricing for edibles of all types (including beverages, candy, chocolate, baked goods and more) was between $5 and $9.99. Within that range, consumers in all three states in January of last year collectively spent $228,600.
By the end of the year, that range had fallen into third place, behind $15-$19.99 (the most popular range, which claimed $487,500 during December of last year, but which was the 4th most popular range in January of last year) and $20-$24.99 (which garnered $352,800 in December, and was in third place in January). The $5-$9.99 range in December saw consumer spending of $338,700.