As coronavirus spreads, Michigan is now allowing curbside pickup for medical patients and recreational cannabis users alike, and California has followed suit. Many retail shops have reported lower foot traffic, but customers that do come in are ordering much larger amounts than usual and appear to be “stocking up.” Delivery has also seen a surge in sales, likely due to the increased number of telecommuters and those staying at home in response to the spread of the coronavirus.
According to the San Francisco Department of Public Health, “Cannabis is an essential medicine for many San Francisco residents. Dispensaries can continue to operate as essential businesses during this time, while practicing social distancing and other public health recommendations.”
Our good friends at MKM Partners have written a piece this week discussing usage pattern differences between cannabis and beer. While beer is king for large social situations, cannabis is by far more popular in solitary times and equally popular with close friends.
Sales surged this past weekend as consumers stocked up, giving cash-strapped retailers a sudden sharp increase in revenue everywhere from California to Canada. Recent sales potentially demonstrate that legal cannabis will ultimately prove to be recession-resistant like other consumer staples (beer, wine, spirits, etc).