1906 needs a bump, and it's hoping you want one, too.
As inflation affects consumer budgets and Colorado's marijuana market lags, the Colorado-based edibles company hopes that producing more affordable and creative ways to ingest THC will help keep sales afloat. The brand's new THC-infused pills, Bump, might remind users of another substance, but CEO Peter Barsoom insists the term can be applied to many other instances — with a wink and nod.
"We don't take ourselves too seriously. The word 'bump' is a widely used phrase. Sure, it does happen to come in a white bottle with white pills, but we think of it like being bumped up to first class before a flight," he says.
Amid rising prices on most retail fronts, commercial marijuana has been one of the few goods to continue dropping in price. Colorado's wholesale marijuana prices and sales numbers have consistently declined for over a year, and businesses and jobs are starting to drop. Barsoom believes that aggressive new products and marketing will be necessary to help stop the bleeding, but passing on savings to consumers is still the obvious route.
Bump is a step away from 1906's other products, which contain ingredients such as ashwagandha, caffeine or magnolia for intended effects including relaxation, energy and even arousal. To save money and get straight to the point, Bump is essentially refined THC distillate in pill form, according to Barsoom.
"This is our value product. With inflation and recession pressures, everyone's pocketbook is getting tired," he says. "There's no one who can produce a 100-milligram product as a pill at the same cost we can."
Bump will be sold in tins of twenty 5-milligram pills for no more than $10 before tax, Barsoom says, and any dispensary that charges more "is in violation."
Infused products can be manufactured "in massive volume" on a pill press, according to Barsoom, enabling a lower price tag. 1906 is using THC distillate from multiple strains to make Bump instead of single sourcing, as it does for its other product lines, which also helps cut costs.
The pills are intended for higher-tolerance users who want to increase their effects without eating more sugar or fat — or in 1906's case, consuming more caffeine and other herbal additives. However, Bump has the same absorption technology intended for fast-acting effects as other 1906 products, notes Barsoom, who likes to mix and match his 1906 pills with Bump.
"Taking four of our Go [THC and caffeine] pills before a workout might be too much caffeine but not enough THC, so maybe three Gos and a Bump or two might be better and more cost-effective," he explains.
Bump quietly debuted in about twenty dispensaries last week, according to 1906, with plans for statewide expansion within the next month.