When Matt and Jen Osmun opened the doors to their vape store in Bethel, Connecticut, this past December, they did not expect to see an increase from the local medical marijuana outlet.
“Sales are going really well, and getting better every month” stated Jen Osmun, who began this business with her husband, a former plumber, after he hurt him sell because of an accident. Most customers at Grassy Plain Vape and Smoke buy electronic cigarettes to assist the process of quitting the habit of smoking tobacco, yet an increasing number are referred by medical marijuana commissaries in the neighborhood.
The Osmuns experience is becoming more common as the amount of US vape businesses soars and shop owners look to capitalize not just on the vaping trend, yet on the broader and legal use of medical cannabis.
From 2008, the amount of US vape shops have expanded to roughly 8,500 and the sales of electronic cigarettes and supplies elevated to $3.5 billion, in reference to Wells Fargo Securities analyst Bonnie Herzog, She assumes the US use of e-cigarettes and vaporizers to take over combustible cigarettes over the next decade.
Cannabis represents an additional lucrative market. IBISWorld, a market research firm, assume sales of marijuana for medical use to rise to $13.4 billion in 2020 from $3.6 billion in 2015, mostly from an aging population with medical issues such as Alzheimer’s, arthritis, and glaucoma.
GreenWave Advisors, an industry research firm, predicts cannabis sales potentially could reach $35 billion by 2020 if all 50 states develop a marijuana program for both recreational and medicinal uses.
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