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Covid Made Consumers Want More Pot, For Less
- Tilray CEO says online shopping has driven pot prices down
- Stifel study also shows how Covid changed cannabis consumption
Photographer: Robin Van Lonkhuijsen/AFP/Getty Images
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Even as Americans fork out more cash for upscale forms of caffeine and alcohol, there’s one thing they increasingly want in bulk, for cheap: marijuana.
In Tilray’s fourth-quarter call last week, Chief Executive Officer Irwin Simon said that Covid-19 prompted more people to shop for marijuana online, and that worked against premium brands. That contrasts with the “premiumization” trend of consumers trading up to higher-priced products that companies including Molson Coors and Starbucks talked about in earnings calls last week.