Introduction
The cannabis market is constantly adapting and evolving. With new markets opening every year, new brands emerging every week, and new products being released on a daily basis, there is never a dull moment when it comes to trying to understand how consumers are leading this dynamic market into maturity. Over time, we learn a bit more about each demographic group and how they vary from market to market. At the pace that we see regulations change, supply fluctuations as well as technological advancements, the cannabis industry is a whirlwind of opportunities for expansion and emergence of current and new solutions. Consumers find themselves at the benefit and mercy of all of these changes and are spending their money to inform the greater industry as to what they like.
Ontario is one of the most exciting cannabis markets to watch as it expands with new retailers, brands, and products. In this report, we will explore trends and behaviors of cannabis consumers in Ontario by analyzing different age groups and identifying growth and changes in spending habits of different cannabis categories year over year.
Executive summary
When we look at age groups in Ontario, we notice some unique differences in cannabis shopping behaviors among the different groups. For example, when we compare November 2020 to November 2021, we see that all age groups are buying significantly more cannabis than last year. The Gen Z age group, however, is the fastest growing age group with sales more than doubling (137%) from November 2020 to November 2021. Looking specifically at Female consumers within the Gen Z age group and comparing them to their counterparts in the Alberta and California markets, we find that Gen Z Females in Ontario are spending much more of their wallet share on Flower (48.2%) than in Alberta (42.6%) and California (33.9%). When we focus on the Flower category in Ontario, we again see how quickly the Gen Z age group is growing, with Males increasing their spending by 152% on the Flower category between November 2020 and November 2021, and Gen Z Females growing 130% in the same time period.
Show Notes:
A high-level overview of the Ontario cannabis market
https://www.headset.io/industry-reports/a-high-level-overview-of-the-ontario-cannabis-market
Host:
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
https://www.linkedin.com/in/joshkincaid/
Episode 862 The #TalkingHedge…
Your Cannabis Business Podcast.
Covering cannabis products, reviews, business news, interviews, investments, events, and more.
https://www.theTalkingHedgepodcast.com
Music Info:
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018Artist: LuxrayBeats
Keywords:
Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Industry News, Weed News 420, Talking Hedge Podcast, Cannabis Podcast, Marijuana Podcast, Business Podcast, CBD podcast, THC podcast, Cannabis Pitch Deck, Marijuana Pitch Deck, Marijuana Investment Deck, Cannabis Investment Deck, Cannabis Compliance, Cannabis Data, Cannabis Banking, Cannabis Investment, Pot Stocks, Cannabis Stocks, Weed Stocks, Marijuana Stocks, Cannabis Data, Marijuana Data, Cannabis Analytics, Marijuana Analytics, Cannabis Sales Data, Marijuana Sales Data
Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers. This is only entertainment.
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