Exploring the demographics of a market as diverse and unpredictable as the cannabis one is always interesting, especially now that the market is largely legal, and consumers are respectively bound to span an even wider spectrum of walks of life.
Let’s see what the 2017 Cannabis Consumer Coalition Report and the 2018 State of Cannabis Data Report by Eaze, an authority on the matter, have to say about that. It’s important to mention that 27.15% of the former’s data comes from people, residing in states where cannabis is illegal, so we’ll use their findings only as a relative reference point and focus mostly on Eaze’s statistics.
On the note of diversity, Eaze’s findings reflect a growing diversification of the market. For one, after adult-use legalization, first-time cannabis consumers increased by 140%, something that is expected to happen.
Furthermore, the number of baby boomers who adopt cannabis in their life keeps growing by leaps and bounds, the leap since last year being a whole 25%.
Keep increasing. According to Eaze, women now account for 38% of cannabis consumers. If that growth maintains the same rapid pace, by 2020, we should see equality in the distribution of cannabis consumers.
In fact, according to the Cannabis Consumers Coalition, we might have already hit and even surpassed that mark. In their report, 58.35% of respondents were actually women.
As expected, even despite the diversification of the market, millennials still represent the largest segment of cannabis consumers. Eaze’s average cannabis consumer is aged 31, whereas 40.79% of the cannabis consumers from the Cannabis Consumer Coalition Report were aged between 21 and 35.
Cannabis consumers who belong in the generations between millennials and baby boomers also comprise a decent size of the market, at roughly 35%, with a slight edge for the younger group.
Considering this, along with the baby boomers’ major and rapidly increasing role in the market, overall, there’s a noticeable shift toward mature and older cannabis consumers who can clearly balance this aspect of their lifestyle with various others.
This idea is bolstered by the Cannabis Consumers Coalition’s findings, which even though do outline a relationship between lower income and higher cannabis use, also reveal that cannabis consumers are people from all social classes and walks of life rather than stereotypical stoners, which again aligns with the data on diversification of the market.
The Boom of CBD
CBD is continuing its rise, with consumers almost doubling between 2017 and 2018, sitting at 4.8%, as of last records. Women and baby boomers are the ones who contributed to this growth the most, however, the interest in the compound is noticeably increasing across all types of consumers.
Veterans and People with Disabilities
For such people, cannabis can mean a much-needed pillar and respite, and this is affected in the stats. 3% of consumers are veterans, while 11% have disabilities, as per Eaze’s findings.
Another very telling stat surfaces in Eaze’s report – Green Wednesday, which is the day before Thanksgiving, ranked number1 for one-day sales, surpassing even the trademark 4/20 by a long shot. This speaks volumes about the adoption of cannabis consumption in mainstream culture, something that was reinforced by consumer e-commerce trends on Black Friday.
These two reports aren’t just interesting for cannabis professionals, but also hopeful for anyone supporting the sector, as it seems to be going in the right direction – toward mainstream culture, normalization, and acceptance.
Image Credits: DACO