While it has been established that Washington cannabis consumers still love flower the most, who’s buying all of this cannabis, how much are they spending and what brands do they prefer? These are all questions the market data firm Headset has cracked open in its report, “Whos Buying All That Pot? A Look at the Demographics of Cannabis Consumers 2017,” released on Oct. 6, 2017.
By using real-time sales data from participating Washington cannabis retailers in September 2017, Headset was able to drill down specific market trends for Washington cannabis consumers.
According to the report, 51% of cannabis dispensary customers in Washington are millennials; however, millennials have the smallest basket size per visit, with the average item price in their basket being around $14.
The low AIP for millennials could be associated with their attempts to become financially stable; accordingly, Headset found that the average basket size is bigger the older the age, with baby boomers having an AIP of $17 and the silent generation, those 76 or older, having an AIP of $21.
As the amount of money spent fluctuates across the generational spectrum, so do product and brand preferences. Flower captured the majority of total product sales regardless of generation, but the second most popular product based on sales was different for each generation.
Following flower, millennials prefer concentrates, generation X goes for concentrates and vapor pens, boomers like vapor pens and pre-rolls and the silent generation opts for vapor pens.
In regards to brand preference, Phat Panda was the most popular brand with millennials, generation X and baby boomers. Project M ranked as the silent generation’s favorite brand. Other brands that ranked high across the generational spectrum include Artizen and Northwest Cannabis Solutions.
Looking forward, Headset’s report argues, “smart entrepreneurs will be watching Gen Z closely. Given how much Millenials enjoy cannabis, its safe to assume that the next generation of cannabis consumers will be even more enthusiastic when they hit legal age. Especially if, instead of Reefer Madness and D.A.R.E. videos, they’ve seen their older siblings and even parents enjoying safe, legal cannabis with no ill effects.”