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By Tyler McCain
Cannabis flower is multifaceted, and enjoyment is highly personalized. Unfortunately, most manufacturers and dispensaries attempt to simplify cannabis to a one-dimensional metric: THC content. This single-minded focus on tetrahydrocannabinol, or THC, keeps cannabis consumers from accurately determining the best flower for them and creates an inaccurate pricing scale.
More than two decades of cannabis industry experience has shown me that high-THC flower isn’t always the highest quality and is not suitable for every situation. As leaders in the cannabis industry, we must radically shift how we view — and price — cannabis.
Must-Know Cannabis Pricing Metric Trends
The most expensive cannabis on dispensary shelves is almost always the flower with the highest THC percentage. Most dispensaries report selling out of high-priced flower with a high THC percentage first, and they have trouble moving lower-THC flower unless it is low-priced.
Dispensaries aren’t the only ones responsible for setting flower prices, though. Manufacturers, growers, and wholesalers typically charge more for high-THC cannabis, too, which means dispensaries need to raise the prices of these items on their shelves to maintain their margins. Because high-THC cannabis sells for more and is easier to move, many dispensaries assume that offering cultivars with the highest possible THC percentages is the best way to profit.
Is THC an Accurate Determiner of Price?
Simply put, no. THC content is not the best way to price cannabis.
High-THC flower isn’t always high-quality; many more metrics go into determining the quality and overall enjoyability of cannabis flower.
3 Cannabis Quality Factors That Matter
Veteran growers like myself agree that three main factors determine the quality of cannabis flower and how much an individual will enjoy a given cultivar.
1. Cannabis Aroma Informs Enjoyment
Scent, or aroma, is one of the best ways to determine cannabis quality. High-quality cannabis should have a distinct smell that varies noticeably from cultivar to cultivar.
Aroma is also one of the best ways for consumers to choose flower that’s right for them; studies have shown that if consumers enjoy the smell of a cultivar, they are likely to enjoy the effects.
There are more than 700 cannabis cultivars and just as many unique scents. However, we have identified six main aroma profiles closely related to cultivar lineages: gas, cheese, pine, purple, fruit, and dessert. My grower network and I have found these six aromas present in all cannabis. These appear to be based on the cultivars’ mother lineage or genetic family tree.
2. Cannabis Terpenes Influence Quality
Terpenes are chemical compounds partially responsible for the smell, taste, and effects of cannabis flower. Like aroma, they can also be a marker of high-quality cannabis. Top-shelf flower should have a visible coating of terpenes that contribute to but do not dominate the aroma profiles and have distinct medical effects. These terpenes, along with other biochemicals in cannabis, produce what is known as the “entourage” effect: the overall body-mind high that users experience.
Certain terpenes provide unique effects, and getting to know these will provide a roadmap for consumers seeking flower they know they will enjoy. Terpene effects are consistent across cultivars; cultivars with similar terpene blends will often have similar effects.
Many terpenes exist in many different plants, but some of the most common in the cannabis plant with known medical effects include myrcene, pinene, caryophyllene, limonene, linalool, humulene, and terpinolene.
3. Cannabinoid Balance is More Important Than Quantity
Finally, cannabinoids play a role in the quality and overall enjoyment of cannabis flower. However, it’s not in the way that most people assume. The balance of cannabinoids, terpenes and other biochemicals in a given cultivar is far more critical than the THC content alone. High-quality cannabis flower typically has a delicate balance of cannabinoids to produce a well-rounded, enjoyable effect — regardless of how much THC it contains. Many find that an increased level of CBD in a particular flower has a milder, relaxing effect, offsetting some of the intensity of the THC effects.
The ultra-high THC percentages that dominate the regulated market today actually aren’t necessary for any but medical cannabis patients and heavy consumers. It’s essential to keep in mind that any flower over about 10% THC will produce the intoxicating effects most consumers seek; higher levels will simply produce a more rapid onset of effects.
The Problem with THC-Dependent Pricing
Because it’s more expensive, consumers tend to assume that the highest-THC products are also the highest quality. Customers looking to purchase top-shelf flower — whether they care about the quality of their cannabis or simply want to enjoy the finer things in life — will invariably gravitate toward the most expensive products. However, high-THC and high-price cannabis isn’t always the highest quality; it’s simply the most profitable with the current dispensary pricing model.
This is proven every day by my personal experience, as most consumers will admit that some of their favorite varieties are not necessarily very high in THC. However, this personal experience has been overtaken by the pricing infrastructure in today’s legal market, with THC content driving prices.
High-THC products aren’t the best fit for every consumer or situation. Inaccurate pricing has convinced consumers that if they want the best cannabis, they must pay the most, but that isn’t true. Cannabis enjoyment is highly personalized; the best cultivar for one consumer or situation isn’t always the one with the highest THC percentage and price.
Again, the pricing of cannabis flower is helping to create this misconception. Many dispensaries feel they have no choice but to sell and promote their highest-THC flower simply because it costs the most to acquire and makes them the most profit, but it doesn’t have to be this way.
How to Price Cannabis More Fairly
The first step to changing cannabis prices — and revolutionizing the cannabis industry in the process — is education. Consumers, distributors, wholesalers, and manufacturers must know the myths surrounding high-THC flower and learn how to truly determine flower quality.
Once customers are informed about choosing the best cannabis, they will be more willing to pay more for flower with robust aromas but with lower THC levels. They won’t immediately look for the highest number on the packaging anymore, and dispensaries can focus on selling flower based on the full entourage effect. Wholesalers will follow the stores on this and learn to price their products more accurately so that dispensaries aren’t forced to sell high-THC flower for exorbitant prices and low-THC but high-quality flower for low prices anymore.
Shifting the Focus Away from THC to Improve the Cannabis Industry
Change in the pricing structure of cannabis will take work from everyone in the cannabis community. The best way to spark change is to follow the cultivators. They know their flower. At our cultivation facility, our staff overwhelmingly select one of our lower THC (19%) cultivars as their favorite. Why? Not because of the lab reports, but because they grew the flower and know how strong its aroma is and how beautiful it is.
With effort, though, moving toward a more comprehensive approach to cannabis flower will result in a more fair and accurate cannabis industry and more enjoyable cannabis experiences for all involved. By changing the way that we, as business leaders, buy, sell, and think about cannabis, we can begin to make a change that will have a positive impact on the industry as a whole.
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