Coronavirus Stockpiling Spurs Demand for Cannabis Delivery
As the COVID-19 pandemic spreads, so does the panic buying and hoarding of basic goods and products. Yet, when faced with two weeks of quarantine is there anything more basic than having something to take the edge off? This is probably why cannabis deliveries have gone up since the start of the virus epidemic.
This is not surprising. Analysts say that revenues of “sin industries” tend to increase in times of crisis. Economic downturns have been known to boost sales of tobacco, alcohol, and cannabis, to the extent of dubbing these industries “recession-proof.”
Even though the complete data is not yet available, several cannabis companies have confirmed an increase in sales to Green Entrepreneur.
An LA-based cannabis dispensary, for instance, reports growing demand for sleep-promoting and wellness weed products. Other businesses saw a slight increase in the average order value with people purchasing multiples of the same items. This would imply that consumers are stocking up on their favorite products, although we can’t see the full picture until numbers for this month are properly analyzed.
But it’s not just sales that are on the rise. Now that the coronavirus has made social distancing a requirement, cannabis deliveries are going up. Caliva, a weed dispensary, was witnessing “record-breaking sales” and “double-digit growth” in the first two weeks of March.
Cannabis companies point out that their primary focus is on the health and safety of their customers and employees. They are aware that many consumers rely on cannabis for their wellbeing, especially medical weed users, and they will try to meet those needs, all the while providing a safe and clean environment both in terms of delivery and in-store experiences.
The spreading pandemic has already hit global markets, and the cannabis industry is no exception. Sales might not suffer as much, but growers and retailers are experiencing hardware shortages that could impact supply. Cannabis events and conferences are being canceled left and right, and there is no telling how crashing markets will affect this budding industry.
Things might seem pretty bleak right now and the thought of self-imposed isolation is daunting, but with a small stash of weed, it will be a bit more entertaining at least.