Since the beginning of the pandemic, the cannabis industry has been growing by leaps and bounds. The demand for cannabis and CBD in North America has skyrocketed, and dispensaries achieve impressive results with effective SEO strategies. 2022 is expected to bring even more exciting changes.
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Staying Informed in 2022
Next year, the market is likely to continue growing, while customers will become better educated. They will also purchase more different types of products. At the same time, the industry will still be facing challenges in terms of legalization and advertising.
The latest trends in SEO for CBD bring a considerable increase in organic traffic. Here is how to keep abreast of the changes affecting your customers, business, and industry:
1. Read Voraciously
Keep up with cannabis publications and websites, opinion leaders, and influential bloggers. Read as much as possible about the industry, the market, and the changes in public perception of cannabis. Knowledge is power.
2. Being Involved
Attend specialized events, become a member of online communities and networks devoted to cannabis and CBD. Exchange experience with peers and take advantage of their expertise. This will help you stay informed about the latest changes. Mingle with colleagues, partners, and clients regularly.
3. Communicate with Customers
Keep an eye on feedback and connect to your customers through social media. Thanks to Facebook, Twitter, and Linkedin, this is easier than ever. Find out what they think and want. Do not be afraid to ask questions!
4. Monitor Your Business
Track your own financial metrics and benchmarks. You may see that some products are selling better than others, or that supply costs are changing. Keeping an eye on performance over time will allow you to anticipate threats, obstacles, and opportunities.
5. Study Statistics
Figures are available online, as major platforms like Statista devote attention to the industry. Pay attention to trends in different regions and demographic groups. Visit sites of reputable organizations, such as the National Institute of Drug Abuse, the United Nations, and Gallup. Cannabis data firms like Headset also accumulate a wealth of data. Flowhub reports describe the state of the industry overall.
6. Observe Rivals
Never stop watching your competitors. Visit their websites and offline locations, follow them on social media. Pay attention to new products and services they offer, targeting methods, expansion efforts, etc.
7. Think Outside the Box
Look beyond your own market to stimulate creativity. Read about cannabis trends in other countries, visit non-cannabis websites your customers may frequent, and read about the news from other industries. A glimpse into these other worlds can help you come up with creative ideas.
8. Think Long-term
A business owner must be able to distinguish trends from fads. Whatever is hot now may not be popular in a couple of months. Focus on changes that will affect your industry for years.
Key Trends to Watch in 2022
The industry is growing quickly. North America is likely to remain the primary market due to its size and growing legalization. Cannabis professionals expect to observe the following trends throughout 2022:
1. Cannabis Sales
Although cannabis is still illegal on the federal level, the industry is in bloom. Legalization in 10 US states is bringing more sales than ever. Every day, the US sees sales worth hundreds of millions. In 2022, the industry will continue growing. According to Statista, consumers may spend over $23 billion on legal recreational marijuana in 2022. The entire industry is now worth 6 to 1 billion dollars, and Nationwide sales grew by 67% in 2020.
2. Growing Legalization
Cannabis activists are working hard to get the products legalized in more states. In the near future, we may see New York, New Jersey, and Minnesota make cannabis legal. With around two-thirds of the population supporting federal legalization, it is easy to see why. Vermont, where possession and home cultivation are already allowed, may decriminalize recreational use.
3. Diversification of Cannabis Products
In addition to new products unveiled by suppliers, breeders are expected to create new strains. The beverage sector should grow thanks to interest from high-profile producers. Molson-Coors is considering creating a cannabis-infused drink, while Coca-Cola may sell a soft drink containing CBD.
Edibles are also likely to become more varied. When cannabis becomes legal nationwide, businesses that have other specializations may also sell them. The flower will probably remain the most popular form of cannabis in the near future.
4. More Diverse Audience
It is expected that females will become increasingly interested in cannabis. There will also be more older customers. Businesses are likely to see a mix of recreational and medical users throughout 2022.
5. Consumer Spending Will Vary Greatly
Most visitors to a dispensary now spend between $25 and $50 per visit. A larger share of the audience (approximately a third) leaves $10 or less. This means they usually buy one item — for example, a beverage or a 0.5-gram pre-roll.
6. New Uses of Medical Marijuana
Last but not least, the industry expects more studies on anti-cancer properties and other health benefits of the plant. New synthetic cannabinoid-based compounds may show stronger positive effects on cancer patients. The antibiotic properties of CBD may lead to the creation of topical creams.
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