High times coming to menu as retailers get peek at edibles
Alberta cannabis retailers scored an advance glimpse Monday of a new wave of pot products they hope will mean higher times for their bottom lines.
About 100 retailers from across the province filled a downtown hotel banquet room to see the world’s largest cannabis producer, Ontario-based Canopy Growth, pitch its pot-infused vapes, chocolate and beverages.
And while they also sampled the company’s wares, they weren’t psychoactive, meaning they were made without cannabis. Those won’t be available until next month.
But some of those retailers said such products that are being crafted by a number of licensed producers can’t come soon enough to a market working against regulatory and black market headwinds.
“A lot of new people are going to enter the market,” said Curtis Martel, owner of Mountain Standard Cannabis in Edmonton.
“We need any boost we can get; it’s been tough.”
Said John Larsen who owns Valhalla Cannabis in Sylvan Lake:
“I’d like to think it’ll increase sales hopefully by 25 per cent.”
A ban on advertising, he said, has been a major roadblock for retailers.
Minutes earlier, Canopy Growth executives trumpeted the virtues of vape pens that can be controlled by cellphone apps, chocolates using the expertise of one of Ontario’s top confectioners and beverages that include sparkling water with a cannabis fizz.
They say those beverages in particular should present major competition for the liquor industry.
“Why have a gin and tonic when you can have a Tweed and tonic?” said Canopy chief commercial officer Dave Bigioni, referring to one of the company’s brand names.
He said the edibles and extract products could attract another 5.5 million new consumers to the cannabis market.
“This is a significant game-changer,” Bigioni said. “In California, vapes represent 40 per cent of the market after a few years.”
Cannabis-infused beverages, he said, have met with marketing problems in the U.S. because they’ve been too strong, some containing 100 mg of the drug.
Canada’s industry has learned lessons from that, with Ottawa adopting the maximum content of 10 mg of THC per serving, which also extends to candies, said Bigioni.
And the Alberta market, which is served by far and away the most stores of any province — 356 approved so far by the provincial regulator — is a promising one for Canopy’s roll-out of phase 2 of legalization.
Some in the health care and addictions community have raised the alarm about the introduction of legal edibles and beverages, which they fear will lead to medical distress and increased dependency.
But Bigioni said the industry’s backing of lower THC content signals they’re approaching the next phase prudently.
“We’re big supporters of responsible use; that’s why we offer products with lower doses,” said Bigioni.
He said the introduction of edibles and extracts “increases accessibility for those who are interested.”