Pre-Roll Or Edible? Low-Dose Or No? What Cannabis Consumers Are Buying Today

April 26, 2023 · Forbes

Cannabis sales growth in a state where it has been newly-legalized is like an upside down hockey stick, said Jeff Gonick, founder of the New York company Bogart which makes low-THC pre-rolls. Sales start out strong and shoot up to serve existing cannabis smokers “and the generally curious,” he said. After a time though, that first consumer base gets saturated, so the growth in more mature markets, like those in California, Washington, and Colorado, slow or even plateau. After the first rush to market, companies struggle more to find new people who might enjoy cannabis Gonick said.

Changing factors on the ground, mean cannabis entrepreneurs need to know their customers and the products they are looking for.

So who’s out there buying cannabis?

Industry researcher Headset recently analyzed millions of retail transactions from thousands of customers in Nevada, Mass., Colorado, California, Washington, Oregon, Michigan and Arizona in the United States, and Alberta and Ontario in Canada to compile demographic and sales data.

Men Still Dominate Sales

In the US and Canada, men make about two-thirds of cannabis purchases. Canadian women make up a slightly larger share of customers than their US counterparts (37.5% to 33.8%).

Millenials spend the most

Millennials (age 27-42) account for almost half of all cannabis revenue in the US and Canada. Gen Z (up to age 26) and Gen X (age 43-58) spend at lower rates. Customers are on average younger in Canada where the legal consumption age is 18 or 19, compared to 21 in the US.

Category preferences depend on age

Unsurprisingly, Baby Boomers are the group most interested in functional cannabis, the products formulated to help with aches, sleep, etc. That demographic of customers is also most likely to purchase flower and edibles, over vapes and concentrates. Younger consumers in contrast, are showing a preference for vapes over flower products. They are most likely to buy other new forms of cannabis, like concentrates.

Is Low-Dose the Way to Go for Entrepreneurs?

Gonick’s company, Bogart, makes low-dose pre-rolls so a consumer can smoke a whole joint and not get too high. Low-dose products, beverages, gummies and pre-rolls, make sense he said, “It’s like sipping a glass of wine instead of smashing a bottle of it.”

That hasn’t been the experience of all cannabis entrepreneurs. Kristi Palmer co-founder of the edibles maker Kiva Confections, said while customers claim to be interested in low-dose products, her own sales data shows many want “a powerful, small format. People say they want low but they are buying high.“

Entrepreneurs can agree though, that opportunity abounds. According to Headset, $100m of weed was sold on 4/20 this year. (Full Story)

In categories:Edibles Pre Rolls
Tags:
Next Post

Making cannabis edibles at home? Try these delicious thumbprint cookies and other recipes

The modern cannabis edible has changed significantly since the birth of the classic pot brownie. In today’s world, there are gourmet cannabis chefs, edible dining courses, infused dinner parties and a plethora of brands selling sophisticated edibles at dispensaries. All…
Read
Previous Post

The Hottest Trends in the Edibles Market? - How about 1:1 CBD to THC Ratios and Hash Rosin Gummies

Canadian edible trends could foreshadow US consumer tastes! Contrary to smoking and vaping, consuming edibles do not pose a risk to your lung health. However, the drawback for specific individuals is that edibles may take longer to take effect, as…
Read
Random Post

Does Cannabis Use Increase or Decrease Men's Sperm Count?

Due to the growing acceptance of cannabis, particularly for medical purposes, scientists are increasingly eager to delve into its impact on health. A particular area of interest lies in exploring how marijuana might affect fertility. Researchers are actively investigating the potential…
Read
Random Post

I went to Willie Nelson’s 90th birthday concert and left with a lot of weed wisdom

From the moment the two-day, star-studded “Long Story Short: Willie Nelson 90” birthday bash at the Hollywood Bowl was announced, it promised to be a once-in-a-lifetime opportunity for the cross-generational cannabis crowd to convene and pay tribute to a longtime…
Read
Random Post

VJ Scientific Unveils New X-Ray Cannabis Decontamination Machine

X-ray technology company VJ Group announced on Wednesday that it has launched VJ Scientific, a new cannabis division that will provide product decontamination equipment to the regulated marijuana industry. The company also revealed the new enterprise’s initial product offering, which…
Read
Random Post

California Assembly Passes Cannabis Cafés Bill

The California Assembly on Wednesday overwhelmingly approved a bill to allow cannabis cafés in the state, KTVU Fox 2 reports. The measure passed the chamber 64-9.   The legislation would permit the sale of non-cannabis products for consumption at the cafés, which is prohibited under current state…
Read