If there’s one thing that can be said with certainty about the weed industry, it’s that there’s never a dull moment. In 2023, that trend will continue as this relatively young industry forges ahead in the face of a possible recession, continued oversupply, and price compression, all while honing in on what consumers actually want and need.
Below, we asked dozens of industry professionals about what they think will be the big trends and developments in cannabis this year. Here are a few of the most common themes.
Price compression and oversupply will continue
Last year was challenging for much of the industry. The impressive growth seen in 2020 and 2021 did not continue in the same ways in 2022. Markets became increasingly saturated, capital became increasingly hard to come by, and oversupply put downward pressure on prices. These trends are predicted to continue this year.
“As we are experiencing oversupply, we need to make tough business decisions,” said Lilach Mazor Power, president of the board at Arizona Dispensaries Association. “How do we bring more customers to try cannabis? How do we differentiate ourselves, and how do we stay profitable? How…