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The coronavirus pandemic and continuing state-by-state cannabis legalization in the U.S. have created new customers.
One in four Americans used cannabis during the pandemic last year, according to a study by the data company YouGov and Sunnyside, a dispensary brand owned by Cresco Labs (OTCQX:CRLBF).
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"We were curious to learn how current conditions have impacted consumer attitudes and cannabis consumption behaviors ahead of what we expect to be an unprecedented 420 celebration," Cris Rivera, senior vice president of retail marketing and customer experience at Cresco Labs, said in a statement.
“Whether it’s the stressors of a global pandemic or increased accessibility due to expanded state decriminalization, cannabis has become the leading CPG category for exploration as people flock to dispensaries to discover the range of novel formats and modern products available to them.”
The firms looked at the cannabis-related attitudes of almost 5,000 Americans. The following are some highlights from the study.
Cannabis And The Pandemic
- The number of existing cannabis consumers has increased 56% in two years;
- 23% of current consumers tried cannabis for the first time within the last year;
- 43% of elderly (65+) cannabis consumers tried it for the first time last year;
- 44% of parents who consume cannabis and have children under 18 also tried cannabis for the first time in 2020;
- There is no difference in the amount of cannabis used between genders.
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420 In 2021
People across the U.S. are becoming more open to 420, rejecting the label of “stoner holiday,” the YouGov and Sunnyside study said.
Around 44% of cannabis consumers think that 420 should be a national holiday.
- More than half of cannabis consumers plan to buy or try a new cannabis product or format for this 420;
- 62% of women think that the 420 is not only for heavy cannabis consumers;
- 57% of cannabis consumers view 420 as a national day of relaxation and wellness;
- 46% of men plan to try a new product for this year’s holiday, while 25% of men plan to seek purchase discounts;
- 20% of women are planning a day of wellness.
“As one of America’s leading retailers of medical and adult-use cannabis products, we are on a mission to normalize and professionalize the shopping experience so consumers feel comfortable and confident adding cannabis to their everyday wellness,” said Rivera.
“We believe that 420 should be a mainstream and inclusive holiday, and this data set shows that people all over America are planning to embrace it in new ways this year.”
Regional Cannabis Preferences
- The Northeast is the most likely (64%) to consume cannabis for anxiety/stress relief;
- Cannabis consumers in the South and West Coast use it more for social gatherings than the rest of the country;
- Those in the South are more inclined (32%) to consume cannabis for intimacy;
- Edibles and beverages are mostly (61%) consumed by those in the Midwest;
- 64% of all cannabis consumers believe if more people consumed cannabis, the world would be a better place.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.