Low Funds, High Expectations: Educating New Mexico’s Consumers
New Mexico’s market has some unique challenges. The average basket size here is around $39—far below the California markets that thrive on high-dollar purchases. And that’s the first battle: New Mexicans don’t have a lot of extra money to spend; with a median household income of $51,945 and an average salary of $47,400, many consumers simply aren’t prepared to splurge on premium products.
Higher Education
So if you want to sell them the higher-quality products, you’re going to need to educate them on why it’s worth the investment. But here’s the catch—New Mexico ranks among the lowest states in education. So, store owners aren’t just running dispensaries; they’re becoming educators too. They have to teach a community that’s struggling financially why they should spend money they don’t really have on products they might not understand.
Split Grades
Retailers in New Mexico are facing an uphill climb. It’s not enough to just stock the shelves; you’ve got to know your product inside and out, and then break it down for a community that’s never had to think too hard about what strain they’re buying. And it’s not a quick lesson either—these are conversations happening on a daily basis. Customers walk in, price tag in hand, looking for the cheapest high. But the challenge is convincing them that sometimes, spending a little more means getting something better: better effects, better quality, and ultimately, a better experience.
Quick Fixes
And here’s where it gets dicey. The education gap is real, and it stretches across everything, not just product knowledge. Store owners are often learning everything on the fly, too—what terpenes are, why some strains hit differently, and how to stay compliant with complex regulations. Then they have to turn around and explain it to a customer base that, quite frankly, isn’t accustomed to the lingo. It's not just about competing with other stores; you're up against tight budgets and misinformation.
Golden Apple
So, what does this mean for New Mexico's future? It means that if retailers want to win the long game, they’ll have to work twice as hard—investing not just in product, but in education. In 1994, an organization called The Golden Apple Foundation was founded to recognize and teaching excellence, where every year several teachers are awarded for their commitment to enriching the next generations. I had the privilege of having two Golden Apple recipients in High School, mentors that pushed me to be a better story teller.
Who will be the first Golden Apple recipients for our industry?
It’s tough out here, but if you can navigate that maze of budgets and expectations, you might just have a shot. But it won’t be easy, and it won’t be quick.
