New Trends in Existing Cannabis Vape Markets Lead to Increase in Sales and Users
Arcview Market Research and Greentank Technologies Corp. Release Joint Year-Over-Year Report on Legal Vape Industry Trends
LOS ANGELES, June 10, 2021 (Newswire.com) - In partnership, Arcview Market Research and Greentank Technologies Corp., a business-to-business vape manufacturer, will release the first of many downloadable reports about the fast-growing vape industry. Working with Headset to collect data from nine cannabis markets in the United States and Canada, the newly formed vape report shares insight into new sales trends, the best performing products, and recent industry trailblazers.
Developed to drive further discussion and investment in the vape space, the report compares the first quarter of 2020 to the first quarter of 2021, focusing on the areas where vape sales are most prominent -- California, Colorado, Washington, Oregon, Nevada, Alberta, British Columbia, Ontario, and Saskatchewan. Among many findings mentioned in the report, data collection results revealed substantial growth across the vape market, the cannabis sector's second-highest-grossing product category during this period.
"Q1 year-over-year vape sales increased in every market that we looked at, with increases ranging from just over 18% in Nevada to nearly 300% in Alberta," comments David Abernathy, Principal of Arcview Management Consulting. "Results from the study will be especially valuable for brands in emerging markets and for companies starting up in areas that are on the verge of being legalized."
This report covers growth patterns across each prominent vape market, including units sold, unit price changes, cartridge size trends, best selling disposables and cartridges, best selling brands, etc. The facts and figures found can be used by cannabis companies to create successful marketing campaigns and groundbreaking products, which may ultimately lead to increased sales for their brands. Arcview Management Consulting and Greentank teams are prepared to help companies implement successful strategies based on the encouraging content of the report.
"It's not enough to just provide the highest-quality vape hardware. Our focus is ensuring the long-term growth and success of all our brand partners across North America. With Greentank's extensive experience and our ability to identify real-time sales trends, we can help teams make smarter, more-informed purchasing decisions that will keep them ahead of their competition," states Derek Champoux, Vice President of Brand & Marketing of Greentank.
Starting June 10, the Q1 2021 Vape Report will be available for free download at https://www.greentanktech.com/vape-report/.
The two companies will host a webinar to discuss details of the report and vape industry trends on June 24 at 4 p.m. EDT/1 p.m. PDT. Event panelists include Derek Champoux - VP of Brand & Marketing at Greentank (moderator), David Wright - Chief Revenue Officer at Greentank, Tracy Gallegos - Partner at Duane Morris, and Gary Seelhorst - SVP Compliance & Government Affairs at Justice Cannabis Co. Register Now: https://arcviewgroup.com/product/vapes-pact-act/
About The Arcview Group:
The Arcview Group is a vertically integrated financial services firm servicing the cannabis and hemp industry, built with social justice and responsibility at its core. Arcview has been a trusted global leader for over 10 years and a nexus for investors, companies, entrepreneurs, and community, providing a broad spectrum of programs and services to the industry. The Arcview Group's ecosystem of companies includes Arcview Capital, Arcview Management Consulting, and Arcview Ventures. Connect with us: Website | LinkedIn | Instagram | Facebook
About Greentank Technologies Corp.:
Greentank is an innovative vape hardware solutions provider that supplies roughly 30% of Canada's vape market and works with more than 200 brands across North America. Greentank is committed to providing licensed producers and extractors with industry-leading vaporization technology, engineered specifically for each brand's extract formulations. Learn more: Website | LinkedIn | Instagram | Facebook
Christia Brockman, Sunday Brunch Agency
Source: The Arcview Group