If there is one brand in Ontario that worked very hard to build a good image, that has to be Value Buds. The excellent image attracted a vast customer turnover. Value Buds knows how to use them against other similar businesses. That all indeed went into Value Bud’s favour.
All this involves a lot of strategies by Value Buds. There is a lot of hard work in the marketing, finance, and sales department. Here I have given an account of what possibly happened. What went wrong with other OCS stores, and what exactly went into Value Bud’s favour?
What is wrong with too many Value Buds stores?
Many of you must have noticed that every cannabis store you visit these days has one thing in common. It is either Value Buds or is selling their products. It is both surprising and alarming at the same time. Surprising because many of you had your favourite sellers. And alarming because those sellers are not there anymore; what happened to them.
The widespread business of Value Buds has a lot to do with the disappearance of small OCS stores. Customers dazzled by the products, prices, and stores of Value Buds may not be able to see it in the beginning. But the current prices and expected raise in the future will make them bat an eye on the real issue.
Is the price hike actual?
Another alarming aspect is the insane price hike. Yes, you are not the only one who felt it. The raise is so unreal, and now everyone seems to get affected by it. What happens is that prices are raised slowly in such cases until they reach an unexplainable value. When the customer starts to feel it as it becomes heavy on the wallet, it is then.
Let’s make a simple comparison to show that Value Buds is ripping people off their money. Let us take a commonly-loved strain, the Afghan Kush. Its price at local OCS stores varies between $11 to $12. And guess the price at Value Buds. You might think it to be roughly double of OCS stores. But surprisingly, that’s not the case. It’s a whopping $34, and that’s unexplainable.
The marketing team at Value Buds deserves all the appreciation for this. They did their job right by adding a few badges to the product, which attracted customers. Value Buds advertised Afghan Kush’s packaging as a recyclable, reusable sliding tray and child-resistant tin. Nobody disagrees with these plus points in their packaging. In fact, Value Buds deserves total points here for being considerate of the environment and children.
The only point here is that all this fails to justify the price tag and seems nothing more than a marketing gimmick. What is the point when you can buy almost the same thing at a significantly lower price than this? Are we paying for the pompous packaging or the product? Other OCS stores are also considerate about their packaging. So, there is no way the high cost of Value Buds is justified.
If you felt the price hike now, it started long ago. That is how such companies work. Value Buds has shown signs and symptoms of corporate greed. It seems that it was on the company’s plan to build a corporate monopoly long ago.
Is Value Bud building a corporate monopoly?
The short answer is yes. As of now, it has succeeded in it to a significant extent. The success of this plan of Value Buds can be measured by shutting down more and more small businesses. That is how a monopoly is created.
Ever since Value Buds started its business in Ontario, smaller OCS stores started going off business. All this made Value Buds the only brand in the market. It not only made its customers but also successfully attracted the loyal customers of other OCS stores. All the events took place so subtly that people dazzled by Value Buds could not see it.
After being the only major cannabis store in Ontario, Value Buds started working on its conditions. That’s how very high prices came into being. People behind Value Buds are aware that theirs is now the only store in the market. And they made sure that this thing profits them the most.
Brands that pull off a corporate monopoly have one thing in common. They are very least concerned about customer services, employee benefits, maintenance etc.
It might not be the case with Value Buds currently. But, if things go a similar way, the future might not be different.
Value Bud’s probable strategy
Value Bud started as a great brand. It had a lot to offer which attracted the masses. There were deals, fewer prices and whatnot. As a consumer, everyone has benefitted from Value Buds in one way or another. Some got discounts, some got terrific deals, and some got their hands on great products. But unfortunately, all the benefits were short-lived.
The whole idea of short-term benefits and long-term loss for the customers was finely curated. It went into Value Brands’ favour as it ended the game for small OCS stores. As the dots connect, all the schemes are comprehensible now. It is clear what went wrong and where it went wrong.
One thing about Value Buds is sure; it knew what to do to push other businesses out of the market. And when it did that, it knew how to take advantage of the situation. The current situation is in Value Bud’s favour, but that’s not permanent.
Let me tell you one thing; customers make or break brands. You, as a customer, have a lot of power. If you also refuse to surrender to this monopoly created by Value Buds, here’s what you can do; support your local OCS stores. It is a very dynamic and fateful step. If done by the masses, it will lead to a shift in market trends and may put an end to this monopoly.