Now that recreational cannabis can legally be sold in California, the Golden State is well on its way to becoming one of the largest cannabis markets in the United States. With millions of dollars pouring into the state, and potentially billions of dollars at stake, cannabis consumer data has become worth its weight in gold.
Bearing that in mind, the cannabis technology company Eaze has released “Eaze Insights: 2017 State of Cannabis Data Report”, an annual report which analyzed the consumer habits of over 15,000 survey respondents and 350,000 cannabis consumers in the state of California.
In this four-part series, Green Market Report will walk you through the numbers of Eaze’s annual report and help you understand what it means for cannabis consumers, the California market, and possibly the industry as a whole. First up, the California market.
According to the report, Californians have become increasingly comfortable with legal cannabis sales. Following California’s historic vote to end cannabis prohibition, the report found that cannabis demand increased by 18% overnight.
That increased demand continued through 2017, as Eaze reports that it saw its average order increase by approximately 200%. In 2016, Eaze would on average receive an order every 30 seconds, but in 2017 the average increased to one order every 10 seconds.
In terms of market growth, every California market Eaze operated in reportedly saw strong growth across the board. San Francisco led the way in growth for the third year running. The city’s continued dominance was in part credited to the city’s early adoption of medical cannabis and widespread acceptance of the substance.
However southern California markets, such as the East Bay and Peninsula areas, are quickly catching up to San Francisco and could soon see similar levels of growth and demand as adults sales being to take root.
Eaze also saw a large increase in demand for cannabis during major holidays in 2017. Unsurprisingly, the cannabis holidays of 4/20 and Green Wednesday (the day before Thanksgiving) saw the largest increase. President’s Day weekend saw the next largest demand increase; followed by Valentine’s Day, Halloween, and the Fourth of July weekend.
“This year’s State of Cannabis report reveals a turning point in the industry toward mainstream acceptance,” said Eaze CEO Jim Patterson in a statement. “Americans are becoming better educated about the wellness benefits offered by cannabis. As prohibition ends and a new era of marijuana emerges in 2018, we’ll see increased awareness drive diverse product adoption among new groups of people and continue to change lives for the better.”
Stay Tuned For Part 2
Which generation spends the most amount of money on cannabis per month? Find out tomorrow in part two of our series “Analyzing Eaze Insights 2017: Consumer Habits”