By Jordan Lams
Cannabis consumers are in a unique position to be able to influence the future market by identifying brands that align with their personal ideals concerning health, the environment, and equity issues. BDSA is projecting legal cannabis sales will hit $30 billion in 2022 and your hard-earned money can and should be spent wisely and go toward brands with standards you can get behind.
Here’s a brief guide to coordinating your cannabis spending with your consumer priorities.
Prioritize Health: Federal Cannabis Protections Don’t Exist
Despite widespread support for legal marijuana, recreational markets in 18 states, and medical markets in 39 states, cannabis remains illegal at the federal level. Accordingly, federal agencies like the Food and Drug Administration (FDA) and Consumer Product Safety Commission (CPSC) that are normally integral to consumer safety are unable to provide protection.
The good news is that states with legal cannabis markets are looking out for their residents. When purchasing unregulated and untested cannabis, as a consumer you are at risk for a range of health issues, such as mold or mildew inhalation and effects from unapproved pesticides, to name a few. Purchasing cannabis legally from state-licensed retailers is the best way to ensure your safety, as well as receive accurate information about the product’s source and potency. Resolve to prioritize your health by consuming legally procured, state-regulated cannabis.
Prioritize Planet: Seek Brands That Ameliorate Environmental Issues
If alleviating and reversing environmental strain is important to you, use your wallet to tell the cannabis industry. The environmental issues facing cannabis range from illicit grow operations that disrupt biospheres to water scarcity and energy use.
An easy way to begin tackling this multipronged issue is to consider one component and seek improvement there. For example, if you live in a drought-prone state, discover which brands implement water reclamation techniques to lessen the impact on the water table and seek those products out. Question your budtender about company practices and if they don’t know, take the initiative to hunt down the information on the business’ website, or with a querying email.
Consider pivoting toward brands that prioritize sustainable packaging as a simple way to vote for sustainability with your dollar. Pass on single-use plastics that cannot be recycled, and be cognizant that oftentimes the recyclables we place with intention into the blue bin don’t actually always get recycled. Search instead for companies with reclamation programs and look for creative industry solutions such as reclaimed ocean plastic or FSC-certified paper-based packaging.
Prioritize Equity: A Quality Company Practices What They Preach
“Equity” and “social justice” can sometimes feel like blasé buzzwords to consumers, but in the cannabis industry, they are foundational topics. The current state-regulated patchwork of cannabis markets could not exist without the foundational legacy market and the people who operated it. It’s no secret people of color were and are still disproportionately targeted for cannabis use, and for consumers who value social justice, this fact cannot be swept under the rug.
You will once again need to put on a detective cap to discover which brands prioritize social justice and equity, and which are all bluff and bluster. Look for companies who have more than just a #blackouttuesday post on social media. Head to their website and see what social justice initiatives they have launched, worked with, or donated to. Even small companies can prioritize equity by creating a balanced C-suite or board. Spend money on brands that acknowledge the legacy market, the struggle of marginalized people and that work actively to balance market entrance accessibility.
If this is a topic you feel strongly about, also consider using your power as a voter and constituent to encourage state regulators to adopt social justice and equity programs.
Shape the Cannabis Industry with Your Purchasing Power
Cannabis consumers are living in a moment when the cannabis market around them is malleable in a way it won’t be forever. Eventually, the U.S. government will be forced to acknowledge the need to federally oversee the nearly $40 billion cannabis market and enact legislation to control that market. Until then, the power to shape trends within the cannabis market is largely in your hands.
Use your purchasing power to candidly speak out about your consumer priorities and nudge the cannabis industry in the right direction. Spend your money with companies that unapologetically uphold the same values as you do. Whether you care about health concerns, the environment, social justice issues, or another topic, resolve to place that care at the center of your cannabis habits in 2022 and put your purchasing power to informed use.
About Jordan Lams
Jordan Lams is the founder and CEO of Moxie, a cannabis operator that has won over 100 industry awards. Under Jordan’s leadership, Moxie went from a self-financed startup to multiple domestic markets and product distribution in over 40 countries.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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