A recent 800-person survey conducted by Enlucem, finds that a broad spectrum of Californians are open to trying cannabis once the state makes its use legal beginning next year.
Based on the survey, conducted last December with 800 California residents 21+ years of age, the market size for cannabis in California is between 15M and 20M adults. The survey further found that of that number:
- 31% have never used cannabis before
- 89% will consider using it for medicinal reasons, especially to treat pain, tension, sleep issues, headaches, anxiety, depression, arthritis and muscle spams
These new consumers, either trying cannabis for the first time or who haven’t consumed in a long time, will look for products that are aimed at treating their specific ailments. They also will want products that are:
- lab tested and certified
- consistently available
- easy to measure the intake amount
- available without THC (psychotropic effects)
Survey respondents also prefer edibles to smoking, something to keep in mind as new products are developed.
Once January 2018 comes around, the brands with a higher chance of capturing this new market and become key players must
- Focus on having product availability and distribution. Consistency first, then distribution. It’s better that your product is available all the time than to be in a lot of stores, but without inventory.
- Brand your products. 49% of current cannabis users don’t know any particular brand. There’s a huge opportunity to brand cannabis products specifically to the ailments it helps to alleviate, develop products with strong branding and messages and reach consumers via a sampling program.
- Educate consumers. There’s still a lot of stigma and lack of awareness of cannabis benefits. Take every opportunity you have to explain why cannabis and why YOUR product delivers specific benefits to a particular ailment.
To conclude, we believe the cannabis industry is an exciting space to be in. The next couple of years will be key in setting up this new market in California, which is currently $800M in sales for medical marijuana alone. Estimates bring the market size to reach $5B in a few years with full legalization of recreational cannabis use. It’d be sweet to grab a nice piece of this pie!
For more information about the Enlucem’s consumer cannabis study in California, contact [email protected]..
Enlucem is a wellness community which brings real-life testimonials of people who use or have used Cannabis to treat many illnesses. Learn more and share your story at www.enlucem.com