{"id":2675,"date":"2022-01-07T21:46:04","date_gmt":"2022-01-07T21:46:04","guid":{"rendered":"https:\/\/cloutbrands.com\/?p=2675"},"modified":"2022-01-07T21:46:04","modified_gmt":"2022-01-07T21:46:04","slug":"cannabis-retail-cpg-trends","status":"publish","type":"post","link":"https:\/\/cloutbrands.com\/cannabis-retail-cpg-trends\/","title":{"rendered":"5 Cannabis Retail CPG Trends to Watch in 2022"},"content":{"rendered":"\t\t
The cannabis sector is the latest industry to enter into the CPG space. As barriers to online ordering and delivery for cannabis slowly ease up, the trends that are currently impacting the retail market will undoubtedly affect cannabis as well.<\/span><\/p> As the COVID-19 pandemic is entering its second year, consumers have all but embraced eCommerce, omnichannel engagement, and online shopping; and their expectations have changed too. Brick-and-mortar retailers now have to adapt to compete with direct-to-consumer brands that are natively digital.\u00a0<\/span><\/p> These trends are forces of disruption, not change. With the cannabis sector occupying an almost interstitial space between these two extremes, staying on top of these new CPG trends is imperative for survival.<\/span><\/p> Here are the five retail CPG trends that cannabis brands need to watch in 2022.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t As brick-and-mortar retail stores shuttered their windows and governments worldwide enacted quarantine and stay-at-home orders, eCommerce saw huge gains across the board. According to a report from <\/span>Mastercard Economics Institute<\/span><\/a>, consumers spent $900 billion more in 2020 online than in the previous two years combined, a figure that\u2019s expected to continue to rise in 2022.\u00a0<\/span><\/p> Before, Amazon and eBay were the only two eCommerce platforms of household notoriety. Entering 2022, retailers such as Best Buy, Bed Bath & Beyond, and even provincial cannabis retailers are beginning to implement online functionality, along with hybrid pickup options, to meet new consumer demands.\u00a0<\/span><\/p> However, digitizing doesn\u2019t ensure survival. Moving operations from offline to online is just one step that CPG companies have to enact to stay solvent.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t When brick-and-mortar stores were the dominant channel of choice, consumers didn\u2019t have much choice if they wanted to be selective about where they wanted to shop. After all, Consumer Packaged Goods has always more about the product and less about the shopping experience.\u00a0<\/span><\/p> Still, with eCommerce channels becoming the first choice for many consumers, many D2C brands are beginning to differentiate themselves not only through their product quality and price but through their customer experience as well.<\/span><\/p> Investment in CX pays far more dividends than its initial cost.\u00a0<\/span><\/p> Consumers have near limitless options to choose from in today’s digital-first world. If one retailer or platform doesn\u2019t have the right product at the right price with the right level of customer service, consumers can find another option in seconds. This reality rings especially true in the cannabis space, given the plurality of dispensaries and retailers currently endemic within the industry.\u00a0<\/span><\/p> As more and more Canadians embrace and learn more about cannabis, it makes sense that they\u2019ll return to a dispensary where they can get\u00a0<\/span><\/p> Read our article on why \u201c<\/span>Customer Experience Will Overtake Product Price and Quality in 2022<\/span><\/a>\u201d to learn more about the impact of CX in the digital age.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t The pandemic has changed fulfilment SOPs forever. Social distancing and pandemic fears have driven customers towards alternative, hybrid fulfillment options such as home delivery, in-store, and curbside pickup. The pandemic drove consumers online, and while many were unaccustomed or unfamiliar with digital channels, the convenience it offered quickly became an essential part of the shopping experience.\u00a0\u00a0<\/span><\/p> It\u2019s so essential that an overwhelming 80% of customers expect to receive their packages within the same day they place them. Another 61% expect to receive their orders within one to three hours of placing them.\u00a0<\/span><\/p> The value of providing <\/span>same-day delivery<\/span><\/a> is a reality that many dispensaries and even the Canadian government appreciates. <\/span>Home delivery<\/span><\/a> for cannabis flower and other products, once disallowed, is now being offered across most Canadian provinces. Some provincial retailers, such as the OCS, have even partnered with third-party courier companies such as Uber Eats to provide their customers with more flexible fulfillment options.\u00a0<\/span><\/p> The retail CPG trends for more accessibility, convenience, and flexibility is here to stay, and industries other than cannabis are picking up slack to meet these new expectations.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t5 Cannabis Retail CPG Trends to Watch in 2022.<\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
Digitize or Perish.<\/font><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
Customer Experience is King.<\/font><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
Delivery is Essential.<\/font><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
Sustainability is Seductive.<\/font><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t