<strong>2023 Demographic Report: Who is consuming more cannabis?</strong>
Report indicates that men represent nearly two-thirds of cannabis sales in the US and Canada
By Benzinga
A report published by Headset, a leading provider of data and analytics in the cannabis industry, highlighted significant demographic trends of the sector's consumers.
The report indicates that male consumers account for nearly two-thirds of cannabis sales in the US and Canada, while the millennial generation represents over 60% of sales in both countries. The study also shows a growth in female representation and an increase in purchasing power of Generation Z consumers. Their findings also suggest a growing trend towards larger transaction sizes as consumer age increases.
"Those who plan for the future will succeed when it arrives," stated Cy Scott, founder and CEO of Headset in a press release.
"Our comprehensive demographic report not only provides data on the current state of the cannabis industry, but will also help brands plan for the future and build a thriving and sustainable business. There are several trends to be examined. It will be interesting to reflect on this report in a year and examine what new trends emerge," he concluded.
Cannabis Demographic Data
The report uses transactional data from eight US states and two Canadian provinces to examine the gender, age, and location of cannabis consumers.
According to Headset, older generations tend to prefer cannabis products related to "wellness," such as capsules and topicals, while younger generations prefer inhalable products like concentrates and vape pens.
Baby Boomers spend five and a half times more on wellness products than Generation Z, while Generation Z spends 25% more on inhalable products than Boomers. Older consumers prefer classic categories like flowers and edibles, while younger ones prefer newer forms of cannabis, such as concentrates and vape pens.