Monday, May 27, 2024

6 Important Cannabis Consumer Demographics

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Understanding cannabis consumer demographics is important for many reasons. With the industry alight with expectations of legalizations of cannabis, companies are racing to offer cannabis products hoping to get their share of the market.

In the face of fierce competition, knowing your target market means better marketing results.

Below are the six most important demographic data that influence cannabis consumption.

Cannabis Demographics
Product preferences vary across different groups. Different demographics look for different benefits in a product. This is why the first step to marketing your cannabis product better is knowing your customers’ preferences as a demographic group.

Below are six demographics and their characteristics as a group.

● Age / Generation
Gen Z (ages less than 24)
Gen Z accounts for a modest percentage of the market and their share more than quadrupled within the last three years. This is expected to grow even more as more of them reach legal purchasing age.

Millennials (ages 26 to 41 years old)
Millennials view cannabis as a lifestyle product. They buy cannabis either because it fits into their lifestyle or the lifestyle they aspire to have. This group makes the bulk of purchases as of 2021 and is expected to dominate the market within a few years.

Generation X (ages 42 to 56 years old)
Generation X is the second biggest consumer of cannabis as of 2021. The majority of this group also prefer flower cannabis.

Baby Boomers (ages 57 to 75 years old)
The Baby Boomer generation is an advocate of marijuana for medical usage. A consistent majority are in favor of marijuana legalization as most of them use cannabis for chronic pain relief.

Their enthusiasm for medical, health and wellness, and adult-use cannabis products is as strong as that of any other generation.

● Gender
There is a persistent gender divide in cannabis consumption. Data shows that men are significantly more likely than women to acquire cannabis products, particularly in Baby Boomers, Gen X, and Millennials.

For health and wellness, women prefer cannabis products. Nearly half of all tinctures, topicals, pills, and edibles are purchased by the female population and they spend more on CBD products than men.

On the other hand, males are far more interested in recreational items, preferring flowers and concentrates.

● Race
Racial differences in cannabis use are slowly declining, particularly among white and black Americans. However, American Indians or Alaska Natives are still the biggest cannabis consumer today, in terms of race.

● Education Level
High school dropouts, followed by college graduates, are the least likely to consume marijuana. However, compared to differences in generation, gender, and race, the difference is negligible.

● Employment
The biggest cannabis consumers by employment are the unemployed, followed by part-timers, and full-timers. Students, retired individuals, full-time child caregivers, and others have the smallest share.

● Income
Income often plays a role in the consumption of cannabis, with those in lower income brackets driving the demand. Those with higher incomes tend to consume less cannabis, although these metrics are shifting in light of positive legislation.

Cannabis legalization is happening all over the world, and understanding who these consumers are, their economic status, and what they want in a cannabis product is important to create a product that will sell.

You can make better marketing decisions by using demographic data in all of your campaigns. There are overlapping characteristics in each segment so it’s worth looking into the persona of your market as well when creating campaigns.

Data is crucial in marketing. That is why your marketing efforts should be driven by data for best results.

Get More Consumer Insights
The meteoric rise of cannabis businesses has given way to a parallel increase in consumers and vice versa. If you want to learn more about cannabis consumers, check out ISA Group. Interviewing Service of America offers cannabis research solutions to help brands get more from their marketing. Get in touch with them today.

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