Tilray Brands Inc (TLRY)

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Andrew to Bonno

Or... why overgrowing bunk, stailed & dry canna is not paying big bucks.

U.S. and Canadian marijuana retailers are discounting their products more and more, forgoing billions of dollars in revenue since the launch of adult-use markets in recent years.

It’s easy to blame recent events such as the COVID-19 pandemic for the price shaving.

But the increase in discounting likely reflects the rapidly growing number of adult-use brands and products available to retailers, Krista Raymer of the Vetrina Group told High Times data reporter Andrew Long.

This has left retailers with a growing number of product options and rising stocks of unsold goods at a time when recreational sales, in particular, have slowed in a number of markets.

In response, Andrew notes in today’s featured story, retailers are relying on a variety of promotions, discounts and markdowns to boost sales and shrink bulging inventories – this at a time when overall consumer inflation is surging, having jumped 8.3% annually in April.


In other news...

Cannabis tech firm Dutchie lays off 67 employees, citing ‘dramatic market shift’ (read : no sales)

Oregon-based marijuana tech company Dutchie laid off 67 employees this week, about 8% of its 700 workers.

Dutchie CEO and co-founder Ross Lipson wrote in a statement that a “dramatic market shift” led management to cut costs in the face of economic uncertainty.