When Oregon legalized marijuana in 2016, experts predicted that 200 to 300 new dispensaries would likely open to sell recreational marijuana. Their predictions were far too low, with 507 marijuana dispensaries opening throughout the state and 304 dispensaries open in Multnomah county alone!
What many people didn’t realize is how much investment money would flood into this new industry (according to MarketWatch, one estimate placed consumer spending at $23.4 billion by 2022). Companies like Constellation Brands (which owns Corona) and Altria (which owns Marlboro) are among the big money players who’ve invested heavily in operations in Oregon and elsewhere that marijuana has been legalized.
While the demand for marijuana is still quite high, with $68 million in cannabis sales taxes collected by the state, supply is far outpacing demand at this point. Many factors have led to the current overstock of marijuana in Oregon, including the ability of farmers to easily grow marijuana in Oregon due to ideal climate conditions, the flood of new operations opening every day, and virtually no limits on the number of licenses issued by the Oregon Liquor Control Commission (OLCC) which is in charge of handing out licenses to growers. Because supply has significantly outpaced demand, prices have naturally plummeted.
Ultimately, with so much supply and an overabundance of retailers, the big dispensary chains are the ones who likely have deep enough pockets to outlast start-ups, mom-n-pop shops, and other small-to-medium sized operations. Fortunately, craft cannabis operations still continue to thrive in Oregon. These quality-focused, consumer-driven companies have largely risen above the fray with higher-quality products and superior customer service. By focusing on smaller batches customized for the user experience, these companies have been able to outlast the bigger investment-backed ventures and carve out niches and consumer loyalty where the big brands have not.
Craft cannabis companies like Archive Portland have been able to establish a foothold in Oregon’s cannabis industry by focusing on quality products for true cannabis connoisseurs. They have earned the trust of consumers with their experience (the team has over 35 years of experience in the industry) and a wide variety of cannabis strains that cater to those with discerning tastes. When you’re looking for the highest quality cannabis and the best customer service, turn to a craft dispensary like Archive Portland.