1 in 4 Cannabis retailers are raising prices to combat rising inflation costs
GreenGrowth CPAs held a month-long survey in the summer of 2022 asking operators a series of questions regarding the impacts of inflation on their cannabis operation. And according to their findings, 1 in 4 operators reported planning to raise prices in the near or immediate future to combat rising inflation costs. Out of the respondents who participated in the survey, more than 50% believe the cannabis business environment has declined in the last 12 months.
“The cannabis business landscape is ever-changing,” said GreenGrowth Founder & CEO, Derek Davis. “And, in order to provide accurate financial data to our clients, we have to consider the economic impacts of rising inflation costs, as well as other factors that can impact the business performance of cannabis companies. Through surveying our customers and cannabis operators in general, we’re able to compile enough data to provide a detailed analysis of how cannabis operators are feeling the economic pressures of today.”
For more information on the complete survey analysis, click here to download the digital report.
As a leading national cannabis accounting and advisory firm, GreenGrowth CPAs was founded in 2016, and has made it its mission to help cannabis companies identify and apply tax and business strategies to increase cash flow while ensuring they are in full compliance with all rules and regulations. They’re known for their extensive knowledge base of blog articles and YouTube videos educating cannabis operators at every stage of the business cycle. For more information or to schedule an appointment, click here to get started.