No matter where you stand in the business of cannabis, you’ve simply got to know who’s out there consuming it.
Dated stereotypes of the marijuana user no longer apply. At first glance, to the naïve marketer, it may seem like only young, hip city folk are using the latest and greatest cannabis products. We like to look a little deeper than that.
Get to know the three fastest-growing groups of consumers in the cannabis world right now:
There’s no question about it: the generation of people born post-WWII are a dominant buying force in the U.S. economy. That means that as legalization spreads from state to state, Baby Boomers remain the fastest growing group of patients and consumers, tossing aside the old stigma for a new lease on health and wellness.
Rising health care costs and low satisfaction with prescription medication treatments are leading more and more aging people to give cannabis another try – often for the first time in decades.
Millennials & “Gen Z”
Not only have Millennials had the privilege of growing up around changing attitudes about cannabis, they’ve also led the charge in making marijuana a mainstream wellness product.
The subsequent generation of youth consumers, dubbed “Generation Z,” are now quickly approaching legal age to purchase their own vape pen or edible in one of several regulated adult-use states. Time will tell just how involved this generation will be in the modern cannabis culture, but you can bet their tastes will be refined by lifestyle influencers and top-quality products they’ve seen on Instagram.
Don’t discount the impact that elderly people will have on legal cannabis markets in the next few years – especially as curious Baby Boomers begin to see their health care costs skyrocket even higher as they age.
Medical cannabis is providing comfort to more people than ever so that they can live out the rest of their years in health and happiness. Through various channels, the word is getting out that pot beats pills any day of the week.
If you are an entrepreneur launching a product or service in the cannabis space, you need to figure out who your customers are.
We can help! Hire one of our Unicorns today to put your brand on the map.