CURRENT CBD USERS

Who is buying / using CBD?

 50% are under the age of 34 (“stressed out millennials” from 21-35)
 54% have used CBD for less than a year
 30% use CBD-only products
 Baby boomers – ages 56 and older (58% look for alternative medicine for health and pain
management)
 Dads are more active purchasers, while moms are more brand loyal
 One study showed that most CBD customers are not well educated

Sources:
https://www.cannabisbusinesstimes.com/article/40-percent-of-adults-interested-in-trying-cbd/
https://www.forbes.com/sites/mikeadams/2019/07/27/who-is-buying-cbd-products/#194068ba210a
https://thecannabisindustry.org/member-blog-who-is-the-canna-consumer/

Current consumer insights

 80% believe CBD can address physical or mental health issues or both
 62% feel comfortable using CBD without any professional guidance
 34% are confident CBD products are safe
 29% understand how much CBD to take
 19% feel confident distinguishing safe products
 16% are confident about the accuracy of product labels

Sources:
https://pointsadhsblog.wordpress.com/2019/09/26/the-mysterious-world-of-cbd-part-i/
https://pointsadhsblog.wordpress.com/2019/10/01/the-mysterious-world-of-cbd-part-ii/

What do consumers use CBD for?

 37% to reduce stress or anxiety to help you relax (63% found it effective)
 24% to help with joint pain (38% found it effective)
 10% for better sleep (52% found it effective)
 Others: personal care

What are current consumers buying?

 35% - edibles and beverages
 30% - tinctures
 30% - vaping devices
 21% - topicals
 16% - cigarette / smokeable forms
 15% - capsules

Sources:
https://www.visualcapitalist.com/the-consumer-potential-of-cbd-and-why-its-here-to-stay/
https://www.visualcapitalist.com/the-consumer-potential-of-retail-cannabis/
What factors influence consumers’ buying decision?
 59% - THC levels
 47% - CBD levels
 42% - Budtender advice (at dispensaries)
 38% - Strain (45% users can’t recall their favorite strain)
 34% - Word of mouth
 29% - Menu (at dispensaries)
 20% - Online reviews
 12% - Brand (45% users don’t have a brand preference / loyalty)

Sources:
https://www.highyieldinsights.com/insights/2019/19/2/cbdsources
https://www.highyieldinsights.com/insights/2018/31/7/branding

POTENTIAL CBD USERS

Who is interested in buying CBD?

 40% of adults age 21 and over are willing to explore CBD under the right conditions
 64% are aged 35 and older
 56% are women
 79% have college experience

Source: https://pointsadhsblog.wordpress.com/2019/09/26/the-mysterious-world-of-cbd-part-i/

Why would they try CBD?

 33% - lower prices
 31% - doctor recommendation
 31% - research showing CBD health benefits
 26% - easier access online / supermarkets
 21% - if cannabis was fully legal everywhere
 21% - if they knew the long-term health impact
 15% - of cannabis was more regulated
 15% - mental health provider recommendation
 14% - if I understood interactions with my medication(s)
 13% - if all cannabis was legal for adult usage in my state
 12% - if not a violation of my employer’s drug policy
 8% - if produced by a well-known company
 8% - if can be used publicly, like at a restaurant

Source: https://www.highyieldinsights.com/insights/2019/5/3/cbdadoptiondrivers

What products would appeal to potential consumers?

 69% solid edibles (chocolate)
 54% liquid edibles (tea, juice)
 44% topicals (creams & balms)
  36% joints or blunts
 32% vaporizers (vapes)
 29% tinctures (for ingestion)
 21% concentrates / dabs
 19% pipes / water pipes

The potential of retail cannabis products is in:

 Food and beverages
o 55% foods
o 19% alcohol
o 32% non-alcoholic
 Health and wellness
o 43% skincare
o 50% supplements
o 26% other / none

Source: https://www.visualcapitalist.com/the-consumer-potential-of-retail-cannabis/