According to BDS Analytics, 2016 was a year of solid growth for the overall vape sector. In fact, judging by the company’s data for more than 600 dispensaries and more than 50 million transactions, Director of Operations Greg Shoenfeld said some vape sub-categories are exploding. For example, sales of vape cartridges in Colorado, Oregon, and Washington alone reached $146 million, a whopping 132-percent increase year-over-year.
“The rapid growth within the category has led to the proliferation of brands and products,” said Shoenfeld. “In 2016, BDS dispensary partners have sold vape products from over 200 brands.”
And that’s just the tip of the iceberg. With multiple recreational and medicinal initiatives approved by voters in November, dispensary owners are scrambling to acquire more square footage and/or expand to additional locations in order to keep up with all the new products looking for homes on their shelves. Pep “Blackbeard” Tintari, who founded the Greenlight Discount Pharmacy in Sylmar, California, just bought the retail store next door because “the competition is only going to get fiercer,” while Studio City’s popular Buds and Roses dispensary is looking to carve out the proper retail space to maximize efficiency in all departments in order to keep a steady customer flow. This is potentially good news for vape companies.
“The rapid growth within the category has led to the proliferation of brands and products,” said Shoenfeld. “In 2016, BDS dispensary partners have sold vape products from over 200 brands.”
And that’s just the tip of the iceberg. With multiple recreational and medicinal initiatives approved by voters in November, dispensary owners are scrambling to acquire more square footage and/or expand to additional locations in order to keep up with all the new products looking for homes on their shelves. Pep “Blackbeard” Tintari, who founded the Greenlight Discount Pharmacy in Sylmar, California, just bought the retail store next door because “the competition is only going to get fiercer,” while Studio City’s popular Buds and Roses dispensary is looking to carve out the proper retail space to maximize efficiency in all departments in order to keep a steady customer flow. This is potentially good news for vape companies.
on Mon, 01/23/2017 - 21:33 admin
