Consumers are not changing their product type preferences to a large degree. 21% of consumers now report reducing inhalable usage, while 35% of consumers indicated using more edible products, which appears to be less about harm reduction and more about variety and general usage increase.
Younger consumers are the most likely of all age groups to increase their cannabis usage, with 49% of Millennials saying they have increased cannabis usages. Not surprisingly, those already using cannabis 5+ days per week are the most likely to have increased their usage, with 52% doing so.
In March, 30% of cannabis consumers planned on reducing their cannabis spending. In July, 37% said they had reduced spending, but 56% had increased spending. 45% of all US cannabis consumers report switching from shopping at physical dispensaries to delivery or online ordering.
———— Contents of this video ———–
00:00 – Intro
00:40 – increase use by generation
04:34 – usage rates
06:37 – changes in product types used
09:22 – purchase location changes
11:57 – cannabis spending changes
15:20 – flower use changes
Buying CBD During a Pandemic: channel & consumer trends
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
Episode 588 of The Talking Hedge:
Your Cannabis Business Podcast.
Covering cannabis products, reviews, business news, interviews, investments, events, and more.
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018Artist: LuxrayBeats
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