Revolutionary Data: Young Adults Lead The Charge In Cannabis Sales

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Revolutionary Data: Young Adults Lead The Charge In Cannabis Sales

Young Adults Dominating Legal Cannabis Sales

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The cannabis industry is expanding rapidly in the United States and Canada, and recent data from the analytics firm Headset has shed light on the demographics of legal cannabis consumers. According to the report, Millennials and Gen Z shoppers account for the majority of cannabis sales in the U.S. and Canada, making up 63% and 72.1% of all tracked sales, respectively.

The Rise of Millennial and Gen Z Consumers

Headset’s report revealed that the percentage of total cannabis sales among Millennials has grown by 11.3% year-over-year, while the percentage share among Gen Z has grown by 6% year-over-year. This suggests that these two demographics are becoming increasingly interested in legal cannabis products.

Women Increasingly Purchasing Cannabis

While males still account for the majority of cannabis sales in the U.S. and Canada, Headset has observed an increase in purchases among women. Since January 2021, cannabis purchases among women have increased by 1.2% in Canada and 0.27% in the U.S.

Vape Pens Overtake Flower as Top Consumer Category

Headset found that vape pens represented 33.6% of total sales to Gen Zers in January and February. This makes Gen Z the first demographic to dethrone flower as the top consumer category. This shift in preference may have implications for the development of new cannabis products and marketing strategies.

Lower Average Basket Spend for Millennials and Gen Z

Interestingly, despite accounting for the majority of cannabis sales, Gen Z and Millennial consumers spend slightly less per average basket than Gen X and Baby Boomer consumers. On average, Gen X and Baby Boomer consumers spend more than $60 per basket, while Gen Z and Millennial consumers spend below $55.

The Implications of the Data

The data from Headset’s report can help cannabis brands plan for the future and build a sustainable business. By understanding the demographics of legal cannabis consumers and their preferences, companies can develop products and marketing strategies that appeal to their target audience.

Conclusion

In summary, Headset’s report highlights the growing importance of Millennials and Gen Z in the legal cannabis industry. These two demographics account for the majority of cannabis sales in the U.S. and Canada and are increasingly interested in legal cannabis products. The rise of female cannabis consumers and the shift towards vape pens as the top consumer category also have implications for the development of new products and marketing strategies.

FAQs

  1. What percentage of legal cannabis sales do Millennials and Gen Z account for in the U.S. and Canada?
  • According to Headset’s report, Millennials account for 63% of tracked sales in the U.S. and Gen Z accounts for 72.1% of tracked sales in Canada.
  1. How much do Gen Z and Millennial consumers spend per average basket?
  • On average, Gen Z and Millennial consumers spend below $55 per basket, while Gen X and Baby Boomer consumers spend more than $60 per basket.
  1. What is the top consumer category for Gen Z cannabis consumers?
  • According to Headset’s report, vape pens have overtaken flower as the top consumer category for Gen Z cannabis consumers.
  1. Has there been an increase in cannabis purchases among women?
  • Yes, Headset has observed an increase in cannabis purchases among women since January 2021.
  1. What can cannabis brands learn from Headset’s report?
  • The data from Headset’s report can help cannabis brands plan for the future and develop products and marketing strategies that appeal to their target audience.
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