Business Marijuana News/October 11, 2017/Monterey Bud
Legal marijuana sales in Washington State have provided academics a rather unique opportunity – the ability to analyze and examine marijuana sales by demographics. Market data company Headset confirmed in their October report what most already suspected – “Cannabis is most popular with Millennials.”
Gathered from Headset’s database of customers, who voluntarily registered for a Washington State rewards programs, the study assessed the buying habits of four age groups, scrutinized their “brand preference,” and identified any age-related “price sensitivity.”
For the study, the company dissected Washington State’s recreational sales for September and categorized purchases in four demographics: Millennials (Under 35), Generation X (35-53), Baby Boomers (54-75), and the Silent Generation (Over 76).
By utilizing their proprietary data points, Headset’s report reveals how much legal weed was purchased in the Evergreen State … and just who was buying all that pot.
Primarily appealing to those with the XY chromosome, the report indicates that men bought way more weed than females. Out purchased by more than a 3 to 1 ratio for the month of September, men participated in 77.87 percent of Washington’s marijuana purchases, while females accounted for 22.13 percent of all recreational sales.
Though each group purchased its fair share of THC-laced beverages, capsules, concentrates, edibles, and tinctures during September – 62 percent of all in-state flower purchases were made by Millennial men. For the Silent Generation, those strains highest in CBD, as well as tinctures and topical ointments, topped their shopping lists.
Now that we have a greater understanding of who bought the most pot in the Evergreen State during September, let’s examine the year-over-year trend. Since September 2016, the average purchase amount has declined across all demographics. With the novelty of legal marijuana now gone, the sale of cannabinoid-related products has decreased for all four demographics.
Dictated by disposable income, the report indicates the Silent Generation spent $7.22 more per item than their cash-strapped cohorts.
Headset’s report discovered that marijuana consumers — at least the legal ones in Washington — have fiscal constraints. While Millennials were most likely to buy inexpensive products (under $10), Baby Boomers and the Silent Generation have a tad more disposable income to play with at Washington State dispensaries.