With the legalization of medical marijuana and recreational marijuana across several states, pricing weed has become a hot topic. There is no clear rhyme or reason to how some dispensaries or businesses price their product. That's because recreational marijuana is decentralized. However, medical marijuana isn't far off with how diverse its pricing can be, either. Several factors can impact the price of weed. Here are some key variables to consider.
Product Type and Quality
Just as branding can impact the price of clothing, branded products, including celebrity-backed brands, may impact the price of weed. Additionally, factors such as the amount of THC in the product, the product's method of production, and its terpene levels can impact price. That's because these conditions can change the quality of the weed.
Supply and Demand
The demand for weed and its available amount directly impacts the pricing of weed. If the supply of weed goes down and the demand is high, dispensaries can validate charging more for the product. That's because a shortage of a product can drive its value. For example, legalized marijuana impacted the pricing of weed when it first came onto the market in Washington. However, when there's a greater supply than demand, the buyer has the power as dispensaries start to compete on price. Washington experienced the impact of having more supply of weed than demand for the product as well. As more supply became available, the wholesale and retail prices of weed dropped. One study noted that the price of weed continued to drop by 2 percent every month between July 2014 and March 2016.
The black market also can affect the pricing of legalized marijuana. The black market was the original method by which most people purchased the product. Black market sellers can easily undercut the prices of legal dispensaries that are priced too high.
From location to supply and demand, several factors play a role in the price of weed. However, buying from a reliable and trustworthy source is vital to getting the marijuana you need. It's important to consider a fully licensed dispensary with knowledgeable staff and a variety of weed selections, such as Apothekare, to meet your medical marijuana needs.