Curated News
By: NewsRamp Editorial Staff
November 19, 2024
New Poll Shows Majority of Cannabis Consumers Expect Increase in Spending
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GithubTLDR
- Frequent cannabis consumers report increased spending, indicating market demand and potential profit.
- NuggMD conducted two polls with a margin of error of 5.9% and 4.8%, using first-party data from nearly 1.2m frequent cannabis consumers.
- Cannabis spending shows strong demand, indicating a durable and resilient market rooted in wellness, not indulgence.
- Majority of frequent cannabis consumers spending more, with 45% expecting to spend even more in the next year.
Impact - Why it Matters
This news matters as it provides valuable insights into the spending behavior of cannabis consumers, indicating a robust and growing market demand. The data suggests that cannabis may be among the most recession-proof consumer products, with spending rooted in wellness rather than indulgence. This could have implications for cannabis retailers, cultivators, and policymakers as they navigate the evolving landscape of the cannabis industry.
Summary
A new consumer poll released by NuggMD reveals that 61% of frequent cannabis consumers report an increase in spending over the past year, with 45% expecting their spending on cannabis products to continue rising. The poll indicates a durable and resilient demand for cannabis, with 73% anticipating an increase in spending over the next year. NuggMD regularly conducts polls and market research on cannabis using a sample of nearly 1.2m frequent cannabis consumers in state-legal markets. The company’s polling capabilities are derived from first-party data collected since launching in 2015.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, New Poll Shows Majority of Cannabis Consumers Expect Increase in Spending
