The current cannabis industry is full of opportunities. There are many different options for consumers to buy cannabis, but there are also many different players in the industry.
Knowing your target market well is the key to creating marketing strategies that work. This is why examining cannabis consumer insights based on data is important.
Following are some of the most interesting insights about the cannabis market.
Purchase and Usage Behaviors
Cannabis is a product that has been around for centuries. However, the market today is saturated with different types of cannabis products sold by many different companies.
Looking into where cannabis users are buying and what their buying behaviors are will help you better understand your market and adjust your marketing strategy accordingly.
Where Do Consumers Buy Cannabis
In the past, cannabis consumers had to get their cannabis via the black market. Now that cannabis has been legalized in most states, consumers now have an option to buy from dispensaries and this practice is becoming popular.
Cannabis on-premise is also gaining traction. Some venues like cannabis social clubs and cafes offer cannabis consumption inside their premises. These premises work in much the same way as pubs and bars with a license to sell alcohol on-premise do.
Why Do They Use Cannabis
Cannabis is used by consumers for a variety of reasons. A growing number of people use cannabis, both inside and outside the home for recreational purposes.
Some consumers use cannabis to achieve a desired state of mind or to cope with an emotional issue, pain, or stress.
When it comes to medical use, a lot of consumers use cannabis to treat anxiety or chronic pain.
How Do They Use Cannabis
Legalizing cannabis sales has been a controversial topic for many years. In recent years, however, it has become a hotly debated topic as more and more states have legalized the sale of cannabis for recreational purposes. The legal weed industry is one of the fastest-growing industries in the United States.
As the legalization of cannabis has spread across the country, so has its popularity among various populations. The expanding public support, along with new products coming into the market, has attracted cannabis users of various types.
How consumers use cannabis varies greatly based on demographic and psychographic characteristics. Consumers have diverse preferences in consuming cannabis. Some ingest it as edibles, others smoke it using bongs, and others still apply it as lotions.
How Often Do They Use Cannabis
The frequency of usage in consumers is also important in developing marketing strategies. Dispensaries, companies, and manufacturers can look for ways they can inject themselves into the daily lives of cannabis consumers.
User Demographics
To find your target market, start with user demographics. Demographics can include:
● Age
● Gender
● Income
● Sexuality
● Ethnicity
● Race
● Marital Status
● Education
● Employment
You can segment your market according to the above demographics or segment them according to psychographics or the consumer’s attitude, personality, or motivations for using cannabis.
Demographics can tell you who your consumers are while psychographics answers the why question: why do they buy, in other words, what are their motivations for buying.
So using both demographics and psychographics is more beneficial. By using both demographics and psychographics, you will have a better understanding of your target market.
Create a Strong Marketing Strategy with Data
Need more detailed insights into your cannabis market? Visit the ISA Group. ISA Group provides cannabis research including cannabis consumer insights and cannabis opinion polls to help you market your products better. Ask for a quote and get in touch with them today.
