I talk with a lot of cannabis farmers. A lot! Hearing views of individuals is always insightful. I talk with people that love us and talk with people that really don’t understand us. I’ve had my share of earfuls from the skeptical, but I personally know of many that have greatly benefited from the Kush Marketplace. It seems that there is a misunderstanding to some of what a marketplace can be or is.
An Online Farmers Market
I was talking with some co workers about the “Old days” of the canna biz. I was telling them about the farmers markets they had every week, bi weekly or monthly. Farmers would buy space and a table. They would bring bags and a scale. That’s about it. No frills and thrills. Back then, the market was fairly standardized. If you wanted to know what your competitor is selling an ounce for, it was as simple as walking down the isle and looking at the posted price. Before they took the marketplace away, there was a pretty standard pricing model. The reason I believe the standard pricing worked, was that all farms had complete transparency.
When I started calling farms this summer and asking about their inventory, I found that some were not getting as much as they could on the wholesale market and some were getting way over what the average asking price was. No one was talking, and price discrepancies were crazy. I thought, if they only had a farmers market to all get on the same page. Then the obvious hit me, that’s what the Kush Marketplace is doing. The more producers and buyers come onto the platform, the more standardized the pricing becomes. Kush never sets any pricing for anyone. We can give our educated opinion on prices and we frequently do through our market analysis, but in the end sellers pick their own asking prices and buyers make their own offers.
Live Marketplace Events
Having a platform to accept or counter offers in an public wholesale online marketplace, ultimately puts the wholesale pricing in the hands it own players, but what about retail? The bottom line is, getting into retail can be difficult. With more than twice the number of producers and processors to retail stores, you don’t have to be an economic genius to figure out that retail space is limited. Not every producer or processor will have an equal share of the retail market, and it’s a virtual impossibility for some producers to run a farm for 10 plus hours a day and then be expected to maintain and expand the retail presence. It wouldn’t seem enough hours in the day. Retailers don’t need a marketplace since they are inundated with daily calls and walk in’s of solicitors. A large retail shop can average 3-5 walk in solicitors and 10-20 calls of the same, each day!
Kush saw an opportunity to help the industry there as well. Our retail focused live events allow producers and processors the opportunity to do months of retail outreach in one afternoon. Our last event had hundreds of people from retail, representing over 120 retail stores. Think about how long it would take to drive and talk to that many retail stores! We are also a private event which means you can bring in your own cannabis, within personal possession limits, to show serious buyers and set up future deals right at the event.
Our next event is coming up on October 5th! We are sold out of booths, but if your interested in attending future marketplace events reach out and we can put you on the list, they always sell fast. If you’ve already secured a booth make sure to reach out to your retail stores and have them preregister for our Seattle Kush Marketplace Events at events.kushmarketplace.com.