The cannabis industry has never needed federal legalization more than now. While mature markets struggle to sustain revenue, new markets are exploding onto the scene.
According to Headset's demographic report for the cannabis industry in 2023, here are some interesting things to keep in mind about maximizing sales with various audiences:
Millenials and Gen Z make up 63% of sales in the US
Since January 2021, sales to women has been slowly increasing. Markets vary, but Nevada's sales to women rose from 4% to 33%
Category preferences are clear across age groups: Older demographics prefer "wellness related" products like capsules, topicals, tinctures, and sublinguals. Younger consumers strongly prefer inhalable products like flower, vapes, and pre-rolls
Hitting the right audience with the right products and messaging will be key as we navigate the volatile economy in the coming year.
Need to maximize your advertising ROI?
CanDu is the U.S.’s premiere performance-based media agency for multi-state operators, cannabis brands, and other canna-businesses. We combine traditional media & digital tactics to measure the impact of advertising. As the only cannabis agency with large scale national TV experience, we’re ready to run when the FCC approves cannabis for on-air broadcasting. Do you need help reaching canna consumers, and tracking ad performance? Message us here, or email Melissa@candu.agency