fbpx
QQQ
-2.71
348.05
-0.78%
DIA
-5.86
344.51
-1.73%
SPY
-7.07
429.04
-1.68%
TLT
+ 2.69
140.35
+ 1.88%
GLD
-0.87
166.72
-0.52%

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

October 16, 2019 7:15 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
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).

Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.

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.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

Traveling With Weed In The US: Everything You Should Consider

By WeedMaps News' Tyler Koslow, provided exclusively to Benzinga Cannabis. read more

WeedMD Added To HMMJ ETF After Quarterly Rebalancing

Medical cannabis company WeedMD Inc. (TSX-V:WMD)(OTCQX: WDDMF)(FSE:4WE) confirmed Tuesday it has been added to the Horizons Marijuana Life Sciences Index E read more

New York Strikes Marijuana Reform Deal Paving Way For Adult-Use Bill

New York is fast-tracking marijuana legalization  That's according to Senate Finance Committee Chair Liz Krueger, citing an agreement between Governor Andrew Cuomo and the State Legislature on a deal to legalize adult-use cannabis sales for adults over 21. read more

Washington, D.C. Politicos May 'Draft, Consider, Hold Hearings' On Pot Legislation, GAO Says

Washington, D.C. lawmakers may take certain steps and prepare for the possibility of a legal adult-use market in the city, despite the federal ban on marijuana.  read more