Washington, D.C.—a city known for iconic monuments, political power, and rich history—also has become a beacon for luxury and elevated retail experiences. It’s time to weave dispensaries into the fabric of the city’s luxury-shopping dynamic.
In recent years, the District of Columbia has seen a significant increase in residents’ disposable income, coupled with an influx of affluent visitors. A study published by GoBankingRates.com in April 2024 revealed the District tops the list of states requiring the highest income to be considered among the top 5 percent of earners. This growing wealth, along with the region’s unique blend of power and artistic vibrancy, has created fertile ground for luxury retail to flourish.
In 2022, D.C. welcomed 20.7 million domestic visitors who spent a staggering $8.1 billion, according to Washington.org. International visitors, who compose only 7 percent of the total, accounted for an impressive 27 percent of spending.
Like every other market, the District needs cannabis retailers that cater to both the luxury market and the desire for something local, offering tourists unique goods and residents something special. With a retail experience on par with those found in Zurich, Munich, and other global destinations, providing a curated selection that reflects the city’s blend of power, history, and artistic vibrancy helps to destigmatize plant medicine one white-glove interaction at a time.
Success in other high-end retail sectors comes from a commitment to providing a personalized, concierge-style experience. At a minimum, that includes offering a one-on-one shopping experience to ensure each customer, whether a tourist seeking a taste of the United States’ capital or a resident looking for something beyond the ordinary, receives attentive service and expert guidance. We do this at Monko by paying our staff well above the average and providing them with constant training about the products we offer, customer service, and attention to detail.
Dispensaries also must commit to supporting the local community and advocating for policy reform. The shopping experience should include education in advocacy. By engaging with the community and using their platform to drive positive change, retailers can become a catalyst for growth and progress in a city.
As Washington, D.C., continues to evolve and grow, a healthy retail landscape is essential for the area’s continued success. Hosting elevated and luxury dispensaries in the city not only contributes to the destigmatization of cannabis retail but also positions the District as a global influence in the world of high-end shopping.
The industry in Washington, D.C., is poised for significant growth, with the potential to become a major player in the city’s luxury retail scene. As more states legalize and social stigma continues to diminish, the demand for high-end products and experiences will only increase. This presents a unique opportunity for retailers to establish themselves as leaders in the luxury market, offering a level of service and quality that rivals traditional luxury brands.
To capitalize on this opportunity, dispensaries must invest in creating an exceptional customer experience. This includes not only providing top-tier products but also designing elegant and inviting retail spaces, hiring knowledgeable and attentive staff, and offering personalized recommendations and education. By focusing on the details and delivering a truly elevated experience, retailers can attract discerning customers and establish a loyal following.
Dispensaries in the District have an opportunity to leverage the city’s unique position as a global hub of power and influence. By partnering with local businesses, artists, and influencers, they can tap into the city’s vibrant culture and create exclusive collaborations and events that showcase the best the District has to offer. Partnerships of this sort not only help to build brand awareness and loyalty but also contribute to the overall growth and vitality of the city’s economy.
It’s essential for retailers to stay ahead of the curve and adapt to changing consumer preferences and market trends. This may involve investing in new technologies such as mobile apps and ecommerce platforms to enhance the customer experience and expand reach. It may also mean exploring new product categories like edibles, topicals, and concentrates to appeal to a wider range of customers and meet diverse needs and preferences.
The success of cannabis retailers in the District’s luxury market will depend on their ability to deliver exceptional products and experiences while also contributing to the greater good of the community. By embracing innovation, fostering meaningful relationships, and advocating for positive change, dispensaries can position themselves as leaders in the industry and help to shape the future of cannabis in the nation’s capital and beyond.
Terrence White is founder and CEO of Monko, a luxury cannabis experience in the heart of Washington D.C. He also owns the cultivation brand Pleasant Hill Wellness. A returned citizen, he champions correcting the disproportionate impact of cannabis criminalization on marginalized communities. Previously, he was a real estate entrepreneur.
