Cannabis packaging doesn’t have to be rocket science. While there are tons of websites and blogs that give you information on how to package products, there are only a few key concepts you need to keep in mind. These will not just save you a ton of time, energy and resources, but they will also be your secret blue print to insider money saving tips on your packaging. According to Business Wire’s Technavio market research analysis, there are three major market drivers that are directly responsible for the growth of the cannabis packaging market in the US. They are:
1.Growing sales of cannabis – The marketing in the North American sector saw approximately a 30% increase from 2015. A large part of this increase is due to the legalization experienced in several new states in the recent two years. No doubt, a massive rise in new users has been key to this as well. We had seven new US states legalizing marijuana in some form or fashion directly on Election Day. Also, keep in mind that there has been a sudden boost in the popularity of alternative ways to ingest cannabis. These include edibles and topical sprays that are laced with cannabis. These two are some major drivers in the cannabis packaging market. This is where you’re going to pay close attention to the topical and edible products at dispensaries now. Ask your budtenders there which ones are the most popular and which ones are the least popular. From there you will have a good base to work with to figure out what’s working and why. You’ll also want to know what isn’t working and why. Ask why behind the why. Try to get into the psychology of your buyer. What is he or she thinking and feeling right before they make the decision to buy these products? Ask your budtender what kinds of conversations do they find themselves having with customers over again. Have they noticed any patterns? If they haven’t before, they’ll now be on the look out more, because you’re probably the first and only person that’s asked them such a question before. Once you do get some feedback on any patterns, no matter how random they may seem to you, grab a journal or note book , write down the information/patterns, and keep that handy. You are going to want to do two things with this information. You want to first of all avoid costly mistakes that could have been prevented with a little extra thought and you want to make maximum money off your cannabis packaging.
2. New product variety innovation – The legalization of cannabis has opened the doors for more and more innovation as well. Every day there are new products entering the cannabis industry. In order for your product to be able to stand out from the sea of competitors, it’s going to take more than the obvious. First of all, it’s going to take a little time to build trust with users and it will take time for them to become aware and feel comfortable with your brand. This is true of both those that are purchasing for recreational use, as well as for those who are seeking medical marijuana products. You have to develop a loyal following. This is where you may want to think about marketing your product pre-launch, so that by the time your physical product hits the shelves, people will already be excited enough to look for your product. If you’ve already established a measure of brand recognition and consumer trust, then packaging that makes your products easily identified is going to definitely be a likely winner. You can also see just how welcoming a market will be and possibly avoid launching a product before its time with this method too.
3. Regulatory recommendations within labeling and marijuana packaging – While packaging and labeling regulations vary from state to sate, there are a few key common elements across the board. These include health warnings, disclaimers, listing active ingredients, date of cultivation of marijuana, and identification of said strain. The most important thing you want to remember is that your cannabis packaging should accurately detail what is inside your packaging. If it is medical use product, then it also has to prevent children from being able to open the packaging and access your product inside. This is approximately 80% of it. While you still need to take care to know your local state marijuana packaging laws from the inside out in this regard, if at any point you find yourself confused, remember that it will always fall back on these basic principles.
Another key thing to remember is to avoid the mistake of jumping on the luxury packaging band wagon for the wrong reason. Luxury packaging can increase the possibility of a sale, there’s no doubt about it. However, if your product experience afterward doesn’t live up to the expectation you raised with your luxury packaging, then you’re going to make people angry at your brand. That means not only will you not get their sales again, but they’re more likely to tell their family and friends about their negative experience. You don’t really want that. This is a very cost-conscious market, so the best sellers are still the ones that balance quality with affordability. And there you have it, a super amazing insider blueprint to help you save and make money through cannabis packaging. Feel free to print this handy guide out and post it anywhere near your home or office for later reference.