The cannabis industry is rapidly evolving. With the legalization of recreational marijuana, cannabis companies are now competing with other industries to win over new consumers.
Brands are being created, ads are being rolled out, and strategies are being developed for customer acquisition.
As the industry grows, so will the need for cannabis consumer studies.
During a year marked by turmoil due to the pandemic, the cannabis industry boomed for numerous reasons.
Whether for mental health reasons, self-medication, or pure recreation, it’s clear that demand has only risen for cannabis during these trying times.
So, despite the rapid evolution of cannabis marketing, there is little information about the new cannabis consumers that boost the sales this year and last.
This article discusses the importance of consumer research today that will shape the industry’s future, post-pandemic.
The New Cannabis Consumer
Revenue growth in 2020 increased. It could be because Americans have been storing up to avoid encounters with dispensaries that had gone down, and it could also be due to an inflow of new clients in places that had legalized the substance.
But it’s clear that the pandemic brought the industry new users and patients, contributing to the 2020 boom. The pandemic had a clear impact on marijuana sales, which may continue in the future.
COVID may be the number one cause of stress and burnout in 2020, which explains why a lot of people turned to cannabis to cope.
However, this boom in cannabis will likely continue even after COVID is no longer as threatening as it was during the height of the pandemic, especially because of the growing acceptance of marijuana in the country.
If you aren’t including this new cannabis consumer group in your marketing research, you could be missing out.
How to Do Your Cannabis Consumer Research
Your cannabis consumer research will not be complete without the input of consumers or people who are actually using it.
It is important to get accurate responses from the target population in order to get valid and reliable data. There are three ways through which one can go about doing cannabis consumer research.
The first way is to conduct a survey, the second way is to do an in-person interview, and lastly, you can do a focus group discussion.
Each of these ways has its own pros and cons when it comes to gathering data for the study on cannabis.
Pros and Cons of Conducting Surveys
Surveys are easy to do. You can do it via email, mail, the web, and the telephone, which all means you’ll have a wider reach and lower research costs.
However, surveyors can be biased which may influence the answers of respondents. Wrong questions can easily lead to inaccurate data.
Pros and Cons of In-Person Interviews
Face-to-face interviews are a popular research method because it offers accurate screening, verbal and non-verbal cues, and the respondents’ raw emotions and behavior.
However, this method is costly, the quality of the data will depend on the skill of the interviewer, and it offers a limited sample size.
Pros and Cons of Focus Group Discussions
With focus group discussions, you can easily measure the customer’s reaction which will provide you with immediate ideas for product and marketing improvement.
However, they are not as in-depth as other data collection methods. The members may not express their honest opinions on the topic especially if their views oppose those of others in the group.
Need Help Conducting a Cannabis Consumer Study?
ISA Group is a team of professionals who can provide you with the best cannabis consumer research. They have all the necessary skills to deliver high-quality data to inform your marketing today and in the future. Contact them today!