Spinx sells THC drinks in South Carolina
Spinx, a South Carolina-based retailer, quietly rolled out THC beverages in its stores last fall. However, a federal law taking effect on December 11 may ban sales of these drinks in the state.
Spinx’s THC beverage sales in the first three months after launch were over $267,000, with an average of almost $27,000 per store. The company has nearly 100 stores, and total company-wide sales have topped $1.8 million since adding THC beverages.
Spinx invested minimal marketing hours in its THC beverage launch, with no advertising, commercials, or social media promotion. Instead, the company used green signage and placed the products in the same area as alcoholic beverages, relying on word of mouth to drive interest.
According to NielsenIQ data, the convenience retail industry saw 74% sales growth year over year in THC beverage sales. This growth has put convenience stores in second place among retail channels where customers buy THC beverages, with a nearly 25% market share.
Diana Eberlein, chair of the Coalition for Adult Beverage Alternatives, noted that discoverability plays a big part in this growth. She said that convenience stores are well-suited for this, as customers are more likely to grab a product if they see it in a store. Spinx projects $2.3 million in sales next year if the products remain legal.
As the market continues to evolve, Spinx’s quiet approach to launching THC beverages could become a model for other retailers.
The future of THC beverages in Spinx’s stores remains uncertain due to the impending federal law. However, the company’s experience in the market so far suggests that there is significant potential for growth and sales in this category. But for now, Spinx continues to be optimistic about the products.
