New York Cannabis Shops Embrace Discounts with New Regulations

The New York Cannabis Control Board has approved new regulations allowing licensed cannabis retailers to offer discounts and promotions, marking a pivotal change in the state's cannabis industry. This development permits the use of marketing strategies such as coupons, loyalty programs, bundled discounts, and points-based reward systems, aligning cannabis retail with traditional retail sectors. The decision, announced on Thursday, comes as a response to long-standing industry advocacy efforts since the market's inception three years ago

These new rules are expected to significantly enhance the competitiveness of cannabis retailers by fostering customer loyalty and differentiating businesses in a crowded market. Mack Hueber, President of the Empire Cannabis Manufacturing Alliance, highlighted that these changes will enable dispensaries to operate more like other retail sectors, thus better serving their customers. Osbert Orduña, owner of The Cannabis Place, echoed this sentiment, noting that the ability to offer discounts normalizes the cannabis industry and provides parity with other businesses

The Office of Cannabis Management anticipates that these measures will contribute to projected sales reaching approximately $1.8 billion by 2025. The approval follows a proposal made last year, reflecting New York's commitment to supporting the legal cannabis market. Industry leaders have expressed appreciation for the responsiveness of Governor Kathy Hochul and state regulators, underscoring the importance of these developments in facilitating the growth and normalization of the cannabis industry