Cannabis Consumer Group Evolves to One of the World's Most Lucrative Demographics
Washington, April 14, 2021 (GLOBE NEWSWIRE) -- New Frontier Data (https://newfrontierdata.com), the authority in data, analytics and business intelligence in the global cannabis industry, in partnership with Mantis Ad Network, a leading advertising network dedicated to the legal cannabis industry, releases its latest industry report, 2021 U.S. Cannabis Consumer Evolution: Archetypes, Preferences & Behaviors.
The report delivers New Frontier Data's third edition of in-depth and comprehensive analysis of cannabis consumption and purchasing habits, layered over hundreds of millions of social and demographic data points, to guide and empower brands, operators, advertisers and investors looking to activate, monetize and capitalize on the emerging market's explosive growth.
Presenting a much-anticipated new set of cannabis consumer benchmarks, the study redefines cannabis consumer behavior in the U.S. at an inflection point in the global industry's growth, to present the 10 most critical cannabis consumer profiles that brands and advertisers need to understand to best engage with the evolving and expanding cannabis consumer group.
"The cannabis consumer, as a new target demographic, is now an attractive and lucrative consumer group that FMCPG brands, from fast food to lifestyle, are not just interested in, but actually need to connect and engage with as a critical growth and competitive planning variable," noted New Frontier Data Founder and Executive Chair, Giadha A. DeCarcer. "Our data collection and research over almost a decade delivers actionable intelligence to activate this booming market. As the nexus of global cannabis data, delivering trusted, reliable, unbiased reporting, we embrace symbiotic relationships with reputable and responsible data partners worldwide."
Key Findings of the Report Include:
Medical vs. Adult Use:
- Key insights for behavioral targeting: Wellness, relaxation and stress relief are cited as primary reasons for adult consumption.
- Expanded opportunities for brand specialization: 42% of consumers self-identify as primarily or exclusively medical, while 58% identify as recreational.
Flower vs. Non-flower Preferences:
- Importance of product diversification: Consumption methods vary widely with 60% ingesting edibles over joints (49%), pipes (34%) and vaporizers (34%).
- Capitalizing on demographic insight: The most lucrative cannabis consumer groups are between the ages of 21 and 35, twice as likely to use both flower and non-flower forms (e.g., edibles or vapes).
Purchasing Habits:
- Impact of social acceptance and legal access: Annual adult use has risen 77%, from 10.4% to 18%, since 2002.
- Opportunity for customer loyalty programs: Only 54% of brick-and-mortar and delivery service shoppers buy from the same business.
Supplementing this report, New Frontier Data will conduct a Free Industry Briefing on Thursday, April 29th at 2:00 PM ET. Register Here: https://hubs.la/H0KL2KG0
A FREE copy of the 2021 U.S. Cannabis Consumer Evolution: Archetypes, Preferences & Behaviors report can be downloaded here: 2021 U.S. Cannabis Consumer Evolution (newfrontierdata.com)
About New Frontier Data:
New Frontier Data is the premier data, analytics and technology firm specializing in the global cannabis industry, delivering solutions that enable investors, operators, advertisers, brands, researchers and policy makers to assess, understand, engage and transact with the cannabis industry and its consumers.
Our mission is to inform policy and commercial activity for the global legal cannabis industry. We maintain a neutral position on the merits of cannabis legalization through comprehensive and transparent data analysis and projections that shape industry trends, dynamics, demand and opportunity drivers. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. with a presence in Europe, Latin America and Africa. For more information about New Frontier Data, please visit us at www.NewFrontierData.com.
About Mantis Ad Network LLC:
Mantis is a SaaS technology company that transforms the way brands and agencies buy digital media. With a focus on the rapidly evolving, legal cannabis and hemp industries, Mantis is uniquely positioned to assist brands and agencies in accessing high-value inventory for a fraction of the cost of other ad platforms. The company is based in North America but actively services clients around the globe.
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