The world of cannabis is becoming more refined. When California first legalized medical cannabis in 1996, the only way one could purchase cannabis legally was through darkly-lit dispensaries with bars on the windows that were squirreled away in industrial parks. More than two decades later, the cannabis industry has evolved to a point where its consumers are more sophisticated and discerning, giving rise to a new sub-market within the industry: Luxury Cannabis.
With a growing number of cannabis consumers willing to pay top dollar for the ultimate cannabis experience, brands are more than happy to provide it for them. Just last month, the cannabis brand A GOLDEN STATE launched what may be the most expensive cannabis flower on the market.
Grown in the Cascade Mountains of Northern California and watered with the snowmelt from Mount Shasta, A GOLDEN STATE aims to provide a luxury experience that is distinctly inspired by Californian heritage; sporting names like Shasta Bloom, Sierra Lemon, and Mountain Shadows.
Even in the most expensive cannabis states, like Nevada, cannabis flower will sell on average for between $11 and $14 per gram. A GOLDEN STATE’s cannabis flower, on the other hand, sells for around $22 per gram. While paying $22 per gram is enough to make most cost-conscious cannabis consumers twitch, there is decidedly a market for such products.
To put this in perspective, dispensaries tend to sell an eighth of an ounce which is about 3.5 grams. So instead of paying $38.50 plus tax for the smallest portion, the consumer is spending $77 plus tax. As of March 2019, Headset Analytics data said that the average dispensary basket sizes by state were: CA $68.70, NV $62.11, CO $59.45, WA $31.16. These baskets tend to have 2 to 2.4 products in them. That means that the luxury