By Melissa Vonder Haar on Dec. 09, 2021
CHICAGO — A new report from cannabis market research agency High Yield Insights demonstrates a large opportunity in capturing what the group calls “CBD newbies.” Titled U.S. CBD Consumer Insights 2021: The New CBD Consumer, the report identifies 23% of the current CBD (cannabidiol) market as falling into the newbie category.
“We think of newbies as having experience in the CBD category of six months or less,” Mike Luce, co-founder of the Chicago-based agency, told CSP Daily News. “A lot of them it’s less than three months. You’re still in that trial phase.”
Some demographics of this group include:
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46% are under the age of 40.
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They skew female: 65% vs. 34% male.
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67% have completed some level of college or more.
Perhaps most importantly, there are a lot of them; that 23% segment represents 2% of the U.S. population, or approximately 5 million adults.
Here are five things retailers should know to help capture this CBD-curious group…
Continue reading on Convenience Store Products. (Paywall)
