Industry Challenges: Why Quick Turn-Around Packaging is Critical in the Cannabis Industry
Timing plays a critical role in the success of any product first getting to market, and this is even more important in an emerging industry like cannabis. Breakout brands typically establish themselves early on, are more likely to be successful long term because they had a chance to develop brand recognition, and are able to develop a strong consumer base before the market is saturated with more competitors. This is also true with seasonal promotions; getting products on the shelves more quickly means more visibility and higher levels of consumer interest.
Getting to Market: The Challenges with Cannabis
Getting to market quickly is undeniably important to a brand’s success in a field like the cannabis industry, but it can also be incredibly difficult. Having packaging that can be created, changed, adapted, produced, and back on the shelves as quickly as possible is crucial to a brand’s continued success. The three main reasons for this need are:
- Changing Regulations. The market for legal cannabis products is fairly recent, and still developing and evolving. As the legal status shifts in various markets, the need arises for greater regulation and oversight. Because many of these rules and guidelines have yet to be firmly established, any product release into the cannabis market is tempered by the knowledge that regulations could soon change that would make the product no longer viable in its current form and packaging. Suppliers need an agile packaging supplier that has the capacity to rapidly adjust packaging in response to shifting regulations with fast, nimble solutions.
- An Exploding Market. With the recent and ongoing legalization of cannabis in different areas and for different applications, great numbers of people are opening new cannabis shops and enterprises, with higher numbers of consumers shopping for legal cannabis products. With new brands and products entering the market every day, it has never been more important for products to be launched and get to market as quickly as possible. The increasingly high-demand market means that any downtime between a product’s development and its appearance on shelves could cost you significantly.
- Constantly Growing Variety of Product Offerings. New cannabis products are being developed and released onto the market every day, as each supplier tries to stay ahead of the curve mastering a particular type of edible, tincture, or other product. With everyone racing to develop a new or better product and get it on the shelves before other suppliers, you need to be able to get your product to market as quickly after its development as possible.
The Importance of Quick Turn-Around Packaging
Time is of the essence when it comes to releasing new products and establishing your brand in the cannabis market. With your team working around the clock to develop the best products and perfect your branding messages, you don’t have time to be held up by a packaging supplier that can’t match your pace and get you to market on time.
JohnsByrne is proud to offer nimble, innovative solutions that make it from the drawing room to the press within the timeframe you need. Get in touch to discuss how we can help you get to market quickly and effectively!