A new study from cannabis market research firm High Yield Insights shows that consumption trends for cannabis-infused edibles consistently spike in a newly legalized marketplace and that edibles are particularly effective at attracting curious and new users as well as former cannabis users.
41 percent of the study’s respondents reported increasing their edibles consumption after legalization. The study also found that an edibles customer’s journey is more parallel to mainstream food and beverage shoppers than other facets of the cannabis industry; specifically, 67 percent of edible customers report basing their purchase decisions on flavor in addition to price point — in most other cannabis categories, however, “price plays an overwhelmingly important role,” according to the report.
The study also suggests that “those consumers who prefer edibles are more likely to be lighter users (using one time or less per month), newer to using (less than 5 years), female, college-educated and high-income earners.”
“To anticipate the cannabis market’s direction, companies need to understand the customer’s mindset and purchase journey. We’re finding many customers are receptive yet ill-informed or hesitant due to unsatisfactory first experiences. Customer journeys may be well worn paths in traditional consumer packaged goods but are relatively new in cannabis. By understanding how consumers make decisions, manufacturers are better able to identify ways to improve the purchase experience and, ideally, enhance their product lines.” — Mike Luce, co-founder of High Yield Insights, in the report
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