In a volatile economy, luxury goods often take a hit.
But a surprising trend has emerged in the cannabis industry: Many premium brands are not only surviving but thriving.
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Despite economic uncertainty, luxury marijuana products continue to attract discerning consumers seeking premium experiences.
“Some consumers want the best in any category – cannabis or not,” said Dana Mason, vice president of brand marketing at Chicago-based Cresco Labs, producer of high-end brands Mindy’s Edibles and FloraCal.
“There are people who appreciate premium products and are willing to pay more.
“Luxury brands are targeting a different consumer group than those looking for that everyday value.”
Exclusivity – characterized by high price points and limited availability – is the key element of luxury goods, cannabis executives
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