This is the number one reason people still buy black market weed, according to a new survey
Legal marijuana is becoming increasingly accessible. However, in countries like the US and Canada where legal markets exist, black market marijuana sales remain constant. According to a new survey, the biggest determining factor is price.
Conducted between 2019 and 2020 and published in the Journal of Studies on Alcohol and Drugs, the survey surveyed 12,000 cannabis users in Canada and the US and found that price outweighs convenience, which is the second major reason people continue to turn to illegal weed decide.
The reasons why consumers still shop in the illegal market varied by year and country.
Photo by FatCamera/Getty Images
RELATED: Nearly 500,000 people work in the legal marijuana industry — how many work in the illicit market?
According to a study:
In both years, the most commonly cited barriers to legal purchase were price (Canada: 35-36%; US: 27%) and inconvenience (Canada: 17-20%; US: 16-18%). In 2020 compared to 2019, several factors were reported less frequently as obstacles in Canada, including inconvenience and the location of legal sources. Certain obstacles increased in the United States, including slow shipping and the need for a credit card.
In the United States, selling cannabis on the black market is one of the most important wild cards in building a functioning legal cannabis market. States like California, which were first to create legal markets, have allowed the two markets to coexist, in what cannabis workers have called “extremely unfair.”
Alex Brough is co-founder of Keneh Ventures, a private equity fund that invests in businesses alongside the legal marijuana trade. In an interview with the Times Union, he compared a legal pharmacy owner who “does everything above the book” to a smuggler selling cheap, untested weed.
“You don’t know any better, you’re not an industry expert, and you go to California and get one [eighth-ounce] chronic at this place for $60, and at this place across the street they’re selling it for $30,” he explained. “If you’re at all budget conscious, go for the $30.”
RELATED: Illegal Vs. Legal: What Are the Real Benefits of Buying Weed from a Licensed Dispensary?
States in the US establishing new cannabis markets can use previous states as guides, allowing for more controlled transitions and accurate predictions of how their legal market would function. Still, black market cannabis sales have been around for decades, with companies building relationships with buyers. Creating a new legal market will take time to build and gain the trust of new buyers.
Post a comment: