Despite increasing legalisation across the US, a recent study published in Cannabis and Cannabinoid Research suggests why consumers may still choose to purchase on the black market over the regulated market. The research, conducted by an international team, reveals a crucial factor influencing this choice: quality.
The study surveyed cannabis consumers in the US, analysing their preferences for both legal and illegal sources. The findings highlight a clear message: consumers prioritise quality, accessibility, and price when making their cannabis purchases.
Quality Reigns Supreme
The study demonstrates a strong correlation between the likelihood of choosing legal cannabis and its perceived quality. Consumers are more likely to choose legal options if they believe the product is high-quality and has undergone lab testing for potency and safety. This finding underscores the importance of robust quality control in the legal cannabis market. Consumers deserve transparent information about the products they purchase, and ensuring consistent quality is key to building trust and encouraging a shift away from the black market.
Accessibility Matters
The study found that accessibility is a key factor influencing consumers' choices in the legal cannabis market. This includes both the physical accessibility of dispensaries and the convenience of purchasing options.
Physical Accessibility:
Location: Dispensaries should be located in convenient and accessible locations, ensuring that consumers can easily reach them without travelling long distances.
Hours of Operation: Dispensaries should have extended hours to accommodate consumers with busy schedules.
Accessibility for Individuals with Disabilities: Dispensaries should be designed to be accessible to individuals with disabilities, including those with mobility impairments.
By addressing these accessibility factors, the legal cannabis market can become more appealing to consumers and reduce their reliance on the black market.
Price: A Sticky Issue
While quality and accessibility are crucial, the study also found that price remains a major determinant, with lower prices swaying consumers towards illegal options.
Why Price Matters:
Affordability: For many consumers, price is a primary consideration when making purchasing decisions. If legal cannabis is significantly more expensive than illegal options, it can deter potential customers.
Perception of Value: Consumers may perceive higher-priced legal cannabis as being of better quality, but if the price difference is too substantial, they may be hesitant to pay the premium.
Economic Disparity: High prices for legal cannabis can disproportionately affect low-income individuals, limiting their access to this potentially beneficial product.
Policy Solutions for a Thriving Market
The good news? The study offers insights for policymakers and industry leaders. To effectively compete with the black market and achieve the goal of cannabis control, policymakers must implement a comprehensive regulatory framework that addresses the key concerns identified in the study.
To create a thriving legal cannabis market, policymakers must prioritise quality and safety, enhance accessibility, address pricing concerns, and foster innovation. By implementing these measures, we can effectively compete with the black market, generate tax revenue, and promote public health and safety. A well-regulated cannabis industry has the potential to benefit both consumers and society as a whole.