Market Overview

New Report Shows Cannabis Is Most Popular Among Millennials, While Older Consumers Prefer Flower And Edibles

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New Report Shows Cannabis Is Most Popular Among Millennials, While Older Consumers Prefer Flower And Edibles

Cannabis data intelligence company Headset just released a new industry market report analyzing how the demographics of cannabis consumers can affect purchasing habits.

Here are a few key takeaways.

Millennials have dominated cannabis sales since legalization and continue to do so, making up a little under 52% of total sales, with the remaining half split evenly between Gen X and the other three generations (Baby Boomers, the Silent Generation and Gen Z).

Gen Zers are coming into the market at a fast pace. If the trend continues, the market will be dominated by Gen Z and millennials in a few years.

Baby Boomers, notorious for rolling joints back in the 1960s, are apparently still at it as they have the strongest preference for flower products at 50%.

Flower is still the primary consumption method for all generations, but Gen Z and millennials prefer vape pens (at a rate of 20% and 21%, respectively). Meanwhile, the Silent Generation (those preceding Baby Boomers) prefers edibles more than other generations (spending 40% of their money on non-inhaled products overall).

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Top brands per generation include Smokey Point Productions vape cartridges for Gen Z, Phat Panda hybrid flower for millennials, Gen X and Baby Boomers, and Green Revolution tinctures for the Silent Generation.

Older generations tend to spend more per trip ($55-75) when compared to younger generations, who buy lower priced products, but more frequently.

On average, men spend more money on cannabis products than women, and buy over 60% of cannabis, with millennial men being the most frequent consumers.

Women purchase “wellness” products more frequently, i.e. tinctures & sublinguals, topicals, capsules and edibles, while men tend to purchase inhalable products, i.e. concentrates and flower.

CBD products appeal more to women, who spend 66% more of their cannabis wallet on CBD-containing cannabis products than men.

Image and chart courtesy of Headset.

Posted-In: HeadsetCannabis News Crowdsourcing Markets General Best of Benzinga

 

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