Eaze Cannabis Report Calls CBD The Breakout Product of 2018

Eaze just released its 2018 State of Cannabis report giving insight into the buying habits of cannabis consumers. Eaze is a Calfornia-based cannabis delivery software company with buying history from 450,000 cannabis shoppers who have used Eaze for its delivery software service along with 4,000 survey respondents.

CBD

Some of the key findings included the breakout year for CBD (cannabidiol) products and the increase in the number of women who have become cannabis consumers. The report called CBD the “darling” of 2018 after learning that CBD consumers nearly doubled in 2018 from 2.6% to 4.8%. Part of this could be attributed to the tsunami of CBD products hitting the market and the general acceptance of the product as being mostly legal. The 2018 Farm Bill legalized CBD derived from hemp. Baby boomers are driving the increased sales of CBD products with 8.4%  of that business coming from that age group.

Women, in particular, are drawn to making CBD purchases. The Eaze report said that “Their preferred products appear to be more ‘beginner’ friendly.” The CBD-only customers reported a variety of effects from taking the product. 61% reported relaxation, while 41% reported anxiety and stress relief, while 40% reported pain relief.

Women

In 2015, women accounted for 25% of the cannabis market and that number has jumped to 38% in 2018. “Over the past year, the total number of women customers grew 92%,” said the report. It also suggested that at this rate, women could end up equaling men by the year 2022 for consumption.

Women were most likely to purchase edibles, drops, and topicals, while men tended to buy the traditional flower and concentrates.  Gummies and the biggest edibles seller followed by bites, chocolate bars, cookies, and mints, respectively. Women also tend to consume cannabis more for personal care and sleep, while men use it for at-home entertainment and sports or exercise.

Substitutions

The report also determined that cannabis consumers tended to give up other things once they began to make regular cannabis purchases. Millenials reduced alcohol consumption and the Gen Z folks either quit tobacco smoking entirely or at least cut it down. All demographics said they reduced their use of over-the-counter pain relievers and prescription pain medicines. Over the counter drug purchases fell by 71% and prescription painkillers fell by 35%.

It seems by consuming cannabis, people are focusing more on the benefits of wellness. Bad habits like alcohol and cigarettes drop as consumers look to cannabis to feel better and contribute to an overall wellness behavior.

 

 

 

 

Debra Borchardt

Debra BorchardtDebra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.


One comment

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    Tru Cure CBD

    January 28, 2019 at 2:20 pm

    2019 will be an inflection point for cannabinoids product category. Interesting data you’ve reported in the article – the rates of usage for CBD products are evidence people are switching to CBD.

    Reply

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