Julie Aitcheson, Author at Green Market Report

Julie AitchesonJulie AitchesonMarch 2, 2021
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5min530

According to a report by the Centers for Disease Control and Prevention, 25 percent of U.S. adults report insufficient sleep or rest at least 15 out of every 30 days. In addition to its profound impacts on cognitive health and behavioral functioning, sleep deprivation can cause accidents, affect relationships, and contribute to lowered immunity and chronic illness. A report by Express Scripts, a Cigna-owned pharmacy benefit manager, concludes that more than one in five people say their quality of sleep has suffered during the spread of Covid-19. With that spike, the demand for sleep aids and medications has seen a similar surge, and with it the debut of products containing Cannabinol (CBN), a minor cannabinoid with what some claim is a uniquely sedative effect.

Unlike CBD, CBN is not present in significant quantities in fresh marijuana, but when unheated marijuana ages or is exposed to air and light, the THC in it turns to CBN, which is only psychoactive if ingested in large doses. Promoted as the cannabinoid with the most significant sleep-inducing qualities studied to date, CBN has been compared to Valium in the way it calms the body without having a negative impact on functioning. While CBN has also been shown to have positive benefits for sufferers of glaucoma, psoriasis, bacterial infection, and pain, sleep is where some say CBN (in concentrated form) comes out on top.

An analysis performed by cannabis testing and analytics company Steep Hill Labs showed that 5mg of CBN is as effective as 10mg of diazepam, a prominent pharmaceutical sedative. Steep Hill later amended their analysis to state that their results did not show conclusive sedative qualities, but enthusiasm for CBN is still on the rise. Numerous cannabis companies are jumping on the CBN bandwagon, offering products targeted towards those suffering from chronic disordered sleep as well as occasional sleep disruption. Extract Labs PM Formula Hemp Softgels contain 30mg of CBD and 10mg of CBN per capsule for a full spectrum remedy with less than .3% THC. The gummy gurus at PLUS (PLPRF) offer options in flavors like Sleep Cloudberry and CBN Relief Lychee, which combine THC, CBD, and CBN for an entourage effect that promotes restful sleep.

Despite the rising popularity of these products and a growing consumer interest in them, most evidence on the efficacy of CBN as a sleep remedy is still anecdotal. In fact, a study published by the National Library of Medicine suggests that CBN has a sedative effect only when used in combination with THC. Dr. Ethan Russo, Director of Research and Development at the International Cannabis and Cannabinoids Institute, suggests that the sedative effects of old cannabis are more likely due to a loss of monoterpenoids and retention of sesquiterpenoids, which induce drowsiness. These conclusions suggest that if consumers are interested in seeing what CBN can do, it might be best to focus on products that contain THC as well as sedating terpenes for an entourage effect to achieve that deep sweet slumber that eludes so many among us these days. 

 


Julie AitchesonJulie AitchesonMarch 2, 2021
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5min520

Cannabis business consulting firm Nucleus One recently released the findings of their February 2021 Massachusetts Adult-Use Marijuana Market Report. Nucleus-One tracks and analyzes data from the Cannabis Control Commission of Massachusetts. February’s report heralded good news for the Commonwealth’s cannabis industry after a short-lived decline in sales in 2020. Since the decline, December and January 2021 saw unprecedented sales, with over 98 active retailers in the state. This growth is due to higher sales in product categories other than flower shares, which hit an all-time low in December. 

The Commonwealth’s uptick isn’t confined to the retail space, as the largest Massachusetts operator (measured by active agents), NETA, and its parent company Parallel prepare to go public following a SPAC Agreement with Ceres Acquisition Corp. On the regulatory front, the CCC published new Medical and Adult Use Regulations in January, which will create a more hospitable environment for this thriving market. Also supportive of 2021’s promising growth are Northampton’s move to waive the community impact fee of 3% on gross sales for cannabis businesses and upcoming discussions about eliminating the vertical integration requirement for medical operators.

The last ten years saw a dramatic increase in consumption and there is every reason to believe that the trend will continue. The number of final licenses granted is up 134 percent from January 2020, with January 2021 sales up 68 percent from the previous year. The number of employees in Massachusetts’ cannabis industry rose by 72 percent from last year, and operators harvested 48 percent more plants than a year earlier.

Licensing can be a long, laborious and expensive process for entrepreneurs to navigate, but on that front, too, there is encouraging news. The number of final licenses in the Commonwealth has more than doubled over the past year and a record 25 final licenses were granted in January. A total of 724 licenses have been approved and 389 provisionally approved across the Commonwealth, though marijuana is still banned or partially banned in over 120 communities in the state. Boston in particular has the highest number of pending retailer licenses, with Brockton coming in a strong second. Smaller operators make up the majority of the 571 new active agents added by the Commonwealth, with all but 8 of the top 25 operators increasing their number of active agents compared to data from December

With daily sales averaging $2.8 million in January 2021, the Massachusetts adult-use market is now worth $1 billion annually, which is certainly correlated with the spike in the number of retail locations from 33 in December 2019 to 94 by December 2020. Sales benefited from a holiday shopping boost, and have sustained that momentum at around $30k per day per store well into 2021. Despite changing buyer behavior, such as steep declines in daily sales on Thursdays and Fridays attributed in part to the pandemic and disrupted commuting routines, overall numbers remain strong with more than $1.26 billion worth of cannabis products sold through the adult use market between November 2018 and February 2021. With big operators like NETA going public, favorable regulations making the books, and a user-friendly licensing process welcoming more new businesses to the market, the future is bright for Massachusetts’ cannabis economy.

 


Julie AitchesonJulie AitchesonFebruary 24, 2021
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5min4061

January has been a watershed month for cannabis in the state of Michigan, as the Michigan Marijuana Regulatory Agency announced sixteen proposed changes to the state’s cannabis laws and regulations. Aimed at improving access to capital for people of color seeking to break into the cannabis market, this initiative also seeks to address other hurdles commonly faced by minorities in the marijuana industry. These obstacles include overwhelmingly bureaucratic application processes, prohibitive licensing fees and wait times, and the outsized impact of the War on Drugs for communities of color. Should the changes be implemented, Michigan would boast the most progressive social equity program in the nation, thanks in large part to the MRA’s Racial Equity Advisory Workgroup (formed in July 2020). 

Cimone Casson is a Workgroup member, owner of cannabis insurance brokerage firm Cannas Capital, Michigan Chapter President for Minorities 4 Medical Marijuana, and the driving force behind another initiative that is poised to push Michigan to the forefront of social equity. Casson’s objective is to create a local stock exchange, the Michigan Marijuana Market, that focuses on raising capital for minorities in local communities impacted by the War on Drugs. The crowdfunding platform, to be housed and supported on the MRA’s website, would serve as a portal for local marijuana investors and businesses located in impacted areas. Though the MRA would operate the Michigan Marijuana Market, a broker-dealer would have oversight over the project and assets would be held by a state-chartered custodial bank. The MMM would be a solely intrastate investment system targeted towards minority-owned and capitalized businesses.

As the Michigan Marijuana Regulatory Agency’s Subcommittee Chairwoman, Cimone Casson is working with director Andrew Brisbo to develop the Michigan Marijuana Market as a means not only of assisting local minority-owned businesses in gaining access to capital but providing a pathway for minorities to build wealth and strengthen their local economies.  “We must provide a consensus pathway to rebuild communities and offer a viable entry for minorities into this market,” Casson says. “Local stock exchanges have historically boosted the likelihood of success for locally-owned businesses, which are critical to a community’s economic, social, and political vitality.”  

Social equity is always top of mind for Casson whether in regards to her own business, Canna Capital, or her work in the regulatory environment. The MMM involves leveraging existing Michigan state laws such as the M.I.L.E. Act (Michigan Invests Locally Exemption), which allows small businesses to raise capital by reaching out to Michigan residents to invest in their companies, and the M.I.M. Act (Michigan Investment Market Act), which regulates a class of intrastate broker-dealers and facilitates intrastate securities transactions among individuals. Still, as the MMM proposal will almost certainly require funding for administrative costs, additional legislative changes will be necessary in order to launch and maintain the initiative. 

Passing MMM-supportive legislation in a Republican-dominated legislature will pose a challenge, but Casson is confident that the Michigan Marijuana Market could be the key to overcoming barriers to participation in the booming cannabis economy and building generational wealth in communities that have yet to reap its considerable rewards.   

 


Julie AitchesonJulie AitchesonFebruary 22, 2021
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4min2930

According to the January 2021 Hemp Benchmarks report, there is an increasing demand for delta-8 THC, which is not derived from hemp plant material but synthesized from extracted CBD. This is helping drive sales of crude CBD oil, CBD Isolate, and some wholesale CBD products. As the popularity of delta-8 THC increases, Hemp Benchmarks observed a consistent decline in prices. Despite the fact that trading volumes of delta-8 THC remain a small proportion of those for CBD products, it is the fastest-growing product in the hemp sector as of the January report. A Tennessee processor told Hemp Benchmarks that they have seen as many as about 20% of their CBD customers shift to purchasing delta-8 THC.

This growth is notable given the many unresolved questions regarding delta-8’s legality. The compound is a psychoactive cannabinoid, which means it can get users “high”, giving rise to numerous legality issues. Newly proposed regulations from the Drug Enforcement Agency would classify delta-8 THC as a Schedule I controlled substance, which would make it illegal at the federal level. For this reason, laboratories and manufacturers are keeping a restrained and realistic eye out for delta-8’s true market potential. The uncertainty extends to the lack of defined standards around compliance and purity of products containing delta-8 THC. The Hemp Benchmarks report quotes an email from Stephen Crowley, Compliance Specialist and Hemp Processing Technician with the Oregon Liquor Control Commission, who wrote that one of his concerns is “what else might be in these products other than delta-8 THC.” This includes a number of chemical impurities that can be generated during the isomerization process.

If the proposed DEA regulations go into effect, delta-8 THC synthesized from CBD would be illegal and its popularity among manufacturers would hit a major roadblock. Until regulations are finalized, The Hemp Benchmark report predicts that some processors might entertain the idea of synthesizing delta-8 THC from their surplus CBD and selling it for significantly higher prices in order to recoup losses from declining CBD and CBG extract prices. 

The consumer market for delta-8 may correlate more strongly with the delta-9 THC demographic as they are both psychoactive, which may limit the delta-8’s appeal for the broader CBD consumer base. As a “novel cannabinoid”, delta-8 THC education and promotion will be necessary to ensure that it does not see the same fate as CBG, which has not generated sufficient interest to purge the excess inventory of what was supposed to be the cannabis industry’s newest rising star. From February to August 2020, the price for CBG Biomass dropped by a staggering 82 percent.

Delta-8 THC is currently a bright light in a stumbling market. Whether or not it can sustain that upward trajectory is dependent on which way the regulatory wind blows once the grey areas in the 2018 Farm Bill are clarified regarding synthetically-derived forms of THC. Until then, this controversial compound is making its way into all manner of products on the hemp market, and earning top dollar for those willing to take a chance on its uncertain future.

 


Julie AitchesonJulie AitchesonFebruary 12, 2021
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5min1120

As with all holidays over the last unprecedented year, Valentine’s Day 2021 will be marked by the realities of limited travel, social distancing, and Covid-era shopping trends that have consumers preferring to fill their virtual shopping carts rather than plucking their purchases from retailer shelves. 2020 was a big year for Valentine’s Day, with celebrants spending a record-breaking average of $196.31 per person according to a National Retail Foundation survey. Though Valentine’s Day 2021 spending is projected to total 21.8 billion dollars, it will not reach 2020 proportions, especially when it comes to spending on evenings out. According to the NRF survey, less than one quarter of consumers plan to celebrate their Valentine with an evening out, which is the lowest percentage in the survey’s history.

 V-Day dinner plans aren’t the only things that have changed due to the pandemic. Spending on gifts has dropped as well, down $32 per person on average. Still, 73 percent of consumers who intend to celebrate the hearts and flowers holiday this year feel that it is especially important to do so given the pandemic. 41 percent of those surveyed plan to cook up a special celebration in the safety of their own homes. 

Restaurants may suffer from reduced safe seating capacity and the number of diners electing to observe the holiday from home this year, but certain product categories (like topicals, beverages and edibles) see regular gains around this time of year, with 2021 looking to be no exception. Sales of cannabis-infused massage oil and lube enjoyed a 20% sales jump relative to the four weeks preceding Valentine’s Day 2020 according to Seattle-based Headset Analytics. Apothecanna’s Sexy Time Personal Intimacy Oil is poised to capitalize on that trend, as is CBD by Playboy’s Pleasure For All kit, which includes intimacy gel, arousal spray and bath bomb. If a bath with your boo ends up being your favorite way to ring in a new year of romance, Love Spell CBD Bath Bomb infused with essential oils that act as aphrodisiacs as well as tension tamers might be just the thing.

On the edible front, CBD and THC chocolates are a favorite gift item on just about any holiday, but as candy is the currency of Valentine’s Day, it’s only natural that an array of sweet treats get top billing in the month of February. Papa & Barkley’s Releaf Chocolate bars (available in milk chocolate or dark chocolate and sea salt) are slow-churned, cannabis-infused creations with Fair Trade certified ingredients. Chill Chocolate offers an array of THC-infused “Mood” chocolate bars, including “Peace”, “Inspire”, and “Dream” to set the tone for a special night. If gummies are more your sweetheart’s speed, Select Nano Gummies (in Lemon-Berry or Strawberry-Peach) or Deli Nickels Passionfruit Gummy Rounds might make better stuffers for that heart-shaped box. Whatever your solo or partnered pleasure this Valentine’s Day, there will be no shortage of cannabis-infused ways to pursue it and restore a little pre-pandemic pleasure to February 14th.


Julie AitchesonJulie AitchesonJanuary 12, 2021
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5min5420

A consumer poll conducted by vertically integrated cannabis and hemp company Glass House Group, prior to the holidays found that a significant number of customers planned on giving the gift of cannabis. With more than 630 respondents citing flower, edibles, and pre-rolls as top choices for their holiday gifts, results suggested that cannabis gifting was among Christmas 2020’s hottest consumer trends. This pointed to the mainstreaming of cannabis and it turns out the polls were true.

According to data from Akerna (NASDAQ: KERN) the Christmas holiday period (12/18-12/24) generated $427 million. Typically, the Friday before Christmas is the biggest sales day of the holidays, but this year Christmas was on a Friday. So it was the Wednesday before Christmas that got the most significant bump in sales with a 76% increase in daily sales. With $87.3 million pouring in, the Wednesday before Christmas became the third-largest sales day of the year. It was only beaten by Green Wednesday which turned in $87.4 million.

However, neither day could top New Year’s Eve which topped the charts at $89.4 million in sales, easily surpassing Green Wednesday and becoming the biggest cannabis sales day of the year.

“We were pleasantly surprised to see New Year’s Eve outperform Christmas,” said James Ahrendt, Business Intelligence, Akerna. “Overall, the last two weeks of the year ended up being some of the most profitable weeks for retail cannabis in 2020.”

Glass House’s survey found that a majority of poll respondents (64.2%) planned to reduce alcohol consumption with cannabis during the holidays, with 67.4% predicting that they would replace alcohol with cannabis to a greater extent than they did in 2019. That would explain the jump for New Year’s Eve. 

The heightened focus on health and wellness concerns prompted by the pandemic is also a contributing factor, not just through attempts to reduce alcohol consumption but to manage holiday stress (53.4% of respondents) and relieve pain (50.3%).  The number one reason for cannabis consumption given was to get a better night’s sleep, followed by “general wellness” with “just for fun” coming in third.

Glass House Group Co-Founder, Chairman, and CEO Kyle Kazan believed that this poll reflected a paradigm shift towards cannabis as a mainstream choice for consumers. He said, “As we make our way into 2021, we will look forward to rolling out new products from Glass House Farms, bringing our customers new retail experiences and continuing to provide new insights into the fastest-growing consumer movement our country has seen in nearly a century.”

Additional Insights From Akerna (12/18-12/31)

Average Basket Size

  • Adult-use – $72
  • Medical – $124

Sales by Product Category

  • Flower – 46%
  • Cartridge/Pens – 32%
  • Concentrates – 13%
  • Infused Edibles – 7.5%
  • Other – 1.5%

Sales by Gender

  • Male – 62%
  • Female – 38%

Sales by Age

  • Under 30 – 28%
  • 30-40 –30%
  • 40-50 – 20%
  • 50-60 –12%
  • Over 60 – 10%

Edibles

  • There were 48% higher sales per store on Christmas in 2020 compared to 2019, and 52% higher sales per store on New Year’s Eve 2020 compared to 2019
  • Consumers bought over 2X as many edibles on NYE 2020 in comparison to 2019.

 

If you are suffering from nausea or pain, you should choose indica strains if you plan to grow cannabis indoor!


Julie AitchesonJulie AitchesonDecember 21, 2020
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4min3570

The Post Office is backed up, mall Santas far and wide are doling out Christmas cheer from inside plastic bubbles, and the conundrum of what to gift someone who has quite likely been through one of the hardest years of their life (spoiler: that’s almost all of us) are making holiday shopping a real conundrum this year. According to a new consumer poll conducted by vertically integrated cannabis and hemp company Glass House Group, a significant number of customers will be rising to the Covid Christmas challenge by giving the gift of cannabis.

With more than 630 respondents citing flower, edibles, and pre-rolls as top choices for their holiday gifts, results suggest that cannabis gifting is among Christmas 2020’s hottest consumer trends. This points to the mainstreaming of cannabis as well as other factors. A majority of poll respondents (64.2%) stated that they plan to reduce alcohol consumption with cannabis during the holidays, with 67.4% predicting that they will replace alcohol with cannabis to a greater extent than they did in 2019.

The heightened focus on health and wellness concerns prompted by the pandemic is also a contributing factor, not just through attempts to reduce alcohol consumption but to manage holiday stress (53.4% of respondents) and relieve pain (50.3%).  The number one reason for cannabis consumption given was to get a better night’s sleep, followed by “general wellness” with “just for fun” coming in third.

So with all of this wellness-minded gifting (71.2% of respondents plan to give cannabis to friends with family coming in second at 65.2%) what might one find under the tree or peeking out of a stocking this year? Glass House’s poll shows flower topping the list, with 65.8% of respondents planning to buy buds for their buds, while edibles, pre-rolls, and CBD products ranked second, third, and fourth respectively. Flower also received top designation as the form of cannabis consumers are hoping to receive this year. This bodes well for a merry Christmas morning among the discarded wrapping paper and ribbon. The rest of cannabis products follow a similar order of preference to those most likely to be given with the exception of vapes, which ranked above CBD products as the gift 33.2% of respondents hope to receive.

Glass House Group Co-Founder, Chairman, and CEO Kyle Kazan believes that this poll reflects a paradigm shift towards cannabis as a mainstream choice for consumers. “As we make our way into 2021, we will look forward to rolling out new products from Glass House Farms, bringing our customers new retail experiences and continuing to provide new insights into the fastest-growing consumer movement our country has seen in nearly a century.”


Julie AitchesonJulie AitchesonDecember 21, 2020
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5min2250

 With every passing day and every new bit of legislation passed, more products containing CBD hit the shelves. Word is out that cannabinoids have real and lasting benefits, particularly when it comes to troubleshooting some of the most persistent maladies plaguing consumers today, including anxiety, insomnia, and pain. Word is also out that not all CBD products are created equal, and that the potency promised on packaging may not be an accurate reflection of the product within. According to the CBD Edibles Market Report (resulting from a collaboration between Leafreport and their partner lab Canalysis, this issue is particularly pronounced when it comes to edibles.

The report found that edibles, one of the fastest-growing categories in the CBD market, are harder to measure compared to tinctures, capsules, and other products. The reason given for this is that “CBD edibles are more difficult to formulate than CBD oil and contain much smaller amounts of CBD per piece, which means that variations of even a few milligrams can have a big effect.”  “Big” is no exaggeration.  The analysis, which incorporated 40 products and 21 brands, found that 63% of products tested contained more CBD than stated on the label, with only 11 out of the 40 tested edible products containing CBD levels within 10% of the claimed amount. That’s only 27.5% of products that meet industry experts’ recommendation that cannabis products deviate no more than 10% from the label.

Indeed, only 25% of the products tested had CBD levels close to the amount advertised, with a whopping 75% of products off by anywhere from 11% to 177%. Third-party testing, which involves sending products to an independent lab to verify potency and safety, used to be considered a safeguard against such wild variability, but that does not appear to be the case in every instance. One would expect that the brands with the highest accuracy rating would be from larger or more established companies, yet this, too, was not the case. Using an A through F rating system, with “A” representing products with CBD levels within 10% of what is stated on the label and “F” those products where CBD levels differed from the label by more than 30%, most A-rated brands were from relatively small or new companies (like Vermont’s VT CBD) while some of the more established (like American Shaman) received “F” ratings, and they weren’t alone. 30% of products tested received Leafreport’s worst rating.

Although third-party testing did not prevent companies that used it from putting out products whose potency did not match the label, it was a consistent factor among those that scored well.  Independent test results still matter, and the responsible consumer would do well to pay them heed. For those who don’t want to take the kind of gamble on the potency that edibles represent, Leafreport’s study concludes that CBD oil is the safer option to make sure you’re getting your money’s worth.

 


Julie AitchesonJulie AitchesonDecember 10, 2020
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6min2830

The holiday season is famous for Yuletide cheer, peppermint lattes, heated family discussions around a high-calorie spread, and trolling slushy streets and the internet for the gift that says “I see you and I care” more loudly than “This was on clearance.” But let’s face it, the holidays are also famous for the booze: huge vats of foamy eggnog potent enough to pin your Aunt Nancy to the couch, spiked hot chocolate to ward off the winter chill, and round after round of craft cocktail creations to keep all of those Zoom parties merry and bright when the video keeps freezing and half of the crew can’t figure out how to unmute. For those who imbibe, holiday drinking can take a toll and when that holiday hangover comes calling, more than a few revelers will be reaching for a cannabis cure.

Dehydration, headache, nausea, vomiting, lethargy, and lack of concentration are all hallmarks of the garden variety hangover. According to a study published in the British Journal of Pharmacology, cannabis might be the ideal treatment for two of these ailments in particular. “Considerable evidence demonstrates that manipulation of the endocannabinoid system regulates nausea and vomiting in humans and other animals”. This manipulation, in the context of this study, refers to the consumption of cannabinoids in order to inhibit nausea and vomiting that occurs “in response to a toxic challenge.”

A study from Skaggs School of Pharmacy and Pharmaceutical Sciences at the University of Colorado speaks to cannabis’s efficacy in treating pain related to headaches and migraines, with inhaled forms proving more effective in treating acute symptoms. According to the study, the active ingredients in cannabis are able to target pain receptors at the base of the spinal cord, which results in an enhancement of “the natural system for pain management in the body.” What’s more, marijuana can also stimulate appetite by turning off hormone pathways that make us feel full, which can help hangover sufferers get some food back into their stomachs and reduce acidity.

If a smoke or vape is your speed, CBD:THC strains like Harlequin, Dancehall, and Sour Tsunami are known hangover helpers. Don’t feel like lighting up to beat off those boozy blahs? Relief can still be yours, with some forward-thinking brands offering up alternative forms of hangover relief for the holidays and beyond. Rhythm, an infused CBD company focused on drinks that feature adaptogens and superfoods as well as CBD, has developed Rhythm Recover, a Lemon Ginger seltzer infused with 15mg of hemp extract and highly bioavailable turmeric extract for an anti-inflammatory boost. For headache-healing hydration without the fizz, a CBD-infused coconut water such as that offered by Vita Coco might be just the thing. The coffee cure is a traditional favorite but can leave you feeling twice as exhausted by the end of the day.  Crappy’s Feel Better’s Hangover Helper chewable tablets with  CBD, CBG, and CBN plus recovery-focused terpenes keep the caffeine crash at bay. 

So happy holidays to all, and if just saying “no” isn’t on your to-do list this holiday season, cannabis might make a welcome addition to your revelry recovery agenda.

 


Julie AitchesonJulie AitchesonDecember 4, 2020
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4min3520

Now more than ever before, brands across all industries are attuning to the fact that an in-depth understanding of their audience’s interests and lifestyles is key to robust sales and longevity. The cannabis industry posted that message loud and clear this year, with one online cannabis marketplace, Jane Technologies, Inc. (which partners with over 1,600 dispensaries and brands across 33 states) seeing online Green Wednesday profits for 2020 up 241% over 2019. Failure to stay relevant to consumers could result in the recent sales boom going bust, yet a recent Forrester Consulting study commissioned by Fyllo, a leading innovator in data, media, and compliance solutions for highly regulated industries, shows many brands lagging behind. According to the study, only 38% of brands understand their customers’ interest in emerging product categories and just 34% can track the current interests and hobbies of their audiences.

The Fyllo-commissioned study was geared towards marketers at top multi-billion dollar consumer brands and how they might leverage cannabis consumer data to improve the ways in which they target audiences with advertisements and media buying. The information was highly sought after. More than three-quarters of brands recognized cannabis and consumer data as not only useful but essential to understanding existing and emerging markets. It’s not just about the ads, but about how and where those advertisements find people— connecting with consumers via their lifestyles and recreational interests.

As Chad Bronstein, CEO and founder of Fyllo observed, “This Forrester data confirms exactly what Election Day represented. The country might be divided, but not on cannabis. Marketers need to recognize that cannabis is no longer on the fringe, but a new opportunity for growth.” A new opportunity indeed. Post-November 3rd election results revealed that New Jersey, Arizona, Montana, and South Dakota all voted to legalize adult-use marijuana. Mississippi approved the sale of medical cannabis, bringing the tally of states where cannabis is medically legal to 33. It is now recreationally legal in 12 states and Washington, D.C. Brands would do well to tap into the power of relevant, personalized data to capitalize on the inevitable surge in consumption.

Almost all brands surveyed in the Forrester study use second-party data for insights into new and existing consumers, and 91% of them agree that staying ahead of not only current but emerging customer interests and lifestyles is a necessity. Yet these brands experience a deficit in their ability to understand their customers at a personal level and to apply this understanding to their media strategies. This is where companies like Forrester come in, with the ability to accumulate and activate data effectively and responsibly. With 80% of brands surveyed indicating that they would be interested or very interested in having insights into medical cannabis consumption, while 77% expressed interest in recreational consumption, both the supply of and demand for relevant data are there. Now it’s just a matter of application to create a holistic view of the cannabis customer so that the industry can fully engage its diverse audience and anticipate its evolving needs.



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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