Cannabis consumers are a diverse group, as clearly demonstrated by BDSA’s consumer research. At the highest level, BDSA divides respondents into:
When Colorado first launched adult-use (recreational) sales in 2014, the existing medical market opened up to a wave of new consumers, including those from the sizable illicit market as well as new consumers who previously had little or no experience with cannabis.
- Independence Day and cannabis go hand-in-hand: “daytime fun” and well as “celebrating special events” are top occasions for cannabis consumption.
- Cannabis sales spiked in the days surrounding the July 4th holiday in 2019, increasing 31% between July 1-3, and 21% between July 4-6.
- Although inhalable products – flower and concentrates – comprised the majority of sales in the days surrounding July 4th 2019, ingestible products experienced a boost in sales before and after the holiday, increasing 27% during July 1-6 - with candy experiencing the sharpest increase of 50% during the first week in July
- Independence Day offers day-to-night festivities as well as opportunities for consumption. Inhalables are the top product choice for daytime and evening consumption, perfect for transitioning from backyard BBQs to late night fireworks!
- July 4th celebrations involve pairings of friends, food and festivities: 30% of consumers typically pair alcohol and cannabis in group settings.
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The COVID-19 public health crisis reset societies around the globe in just a few short months. With more than 150,000 deaths as of this writing, per the Johns Hopkins coronavirus resource center, no aspect of our lives remains untouched. The Easter and Passover holidays were forced online and over 22 million Americans have lost their jobs in the last few weeks. Global economies are in shambles and economists are virtually guaranteeing a recession (i.e., two consecutive quarters of negative GDP growth).
Worldwide sales of legal cannabis re-accelerated in 2019, growing nearly 46% to almost $15 billion. The increase represents the largest yearly sales gain since Colorado launched adult-use sales in January, 2014. The growth is further magnified when compared to 2018, which only saw 17% growth.
Cannabis is perhaps the most exciting retail opportunity to hit U.S. markets in decades. The lucrative combination of rapid sales growth, an ever-expanding customer base and government-enforced protection against mass-retail has resulted in a unique market that is unlikely to be replicated anytime soon.
We’re in no rush to say goodbye to summer, but, as we head into Labor Day weekend, let’s review how the cannabis industry has fared during Labor Day weekends past and other key summer holiday periods:
How many products contain cannabis? Hundreds. Flower – of course – and pre-rolls. Vape pens and concentrates like shatter and Live Resin. Creams and massage oils. Chocolate chip cookies, coffee sodas, pills, strawberry taffy, powders for adding to hot tea or cold juice. Companies are rolling out myriad new products in pot-friendly states every week — it’s remarkable.
Cannabis Ingestibles cover a lot of ground, including everything from pills to slices of pie to bottles of THC-infused cold-brewed coffee. But one style of ingestible dominates the market: the gummy.
Sales of cannabis fluctuate throughout the year across Colorado, Washington and Oregon, with individual days, like Fridays, serving as most weeks' sales summits, and holidays like July 4 and of course 4/20 boosting cannabis sales significantly.