Marijuana Business Magazine May-June 2019

Marijuana Business Magazine | May-June 2019 54 “Faster effects mean consumers are less likely to overindulge in the time between consumption and sensation—and are more likely to achieve the desired effects,” Malmuth said. Marketing Moods, Not Strains Cannabis-infused products are typically branded as made from indica, sativa or hybrid strains. Those words reso- nate less with new and older cannabis consumers, or consumers who want functional products designed to aid with sleep or pain relief. That’s important considering that ingestible products are more popular with Gen Xers, baby boomers and the silent generation, according to data provided by Headset, a Seattle-based data-analytics company that focuses on the cannabis industry. (See chart "Category Market Share by Generation.") So, rather than advertising products as coming from sativa or indica strains, con- sider naming products after the feelings or moods they are created to replicate. Examples include Energy and Relief sublingual tablets from Sum Microdose, • Infused products are more popular with older consumers, who are sometimes looking to replace over-the-counter drugs or prescription medications with cannabis. • These consumers tend to favor products with low-THC and high-CBD content or products with a 1-to-1 THC-to-CBD ratio, said Headset's Liz Connors. They also purchase more microdose products, she noted. • This suggests there’s a critical opportunity in branding and marketing products that effectively target older consumers. • Consider developing discreet products—sublingual tablets, ready-to-mix beverage powders and tinctures, for example—that replicate products already familiar to older consumers. • Rather than advertising products as coming from sativa or indica strains, consider naming products after the feelings or moods they are created to replicate, such as calm or bliss. This strategy will appeal to older consumers and a wider customer base. 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0 Post-Millennials Millennials Generation X Baby Boomers Silent Generation 22% 54% 8% 16% 24% 53% 10% 13% 25% 51% 12% 12% 21% 52% 13% 14% 17% 41% 17% 25% % of Total Sales Vapor Pens Flower and Pre-Rolls Edible and Beverage Other Category Market Share by Generation CATEGORY MARKET SHARE BY GENERATION Products TAKEAWAYS Source: Headset Ryan Crane is the founder of Tukan. Courtesy Photo Vapor Pens 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0 Post-Millennials Millennials Generation X Baby Boomers Silent Generation 22% 54% 8% 16% 24% 53% 10% 13% 25% 51% 12% 12% 21% 52% 13% 14% 17% 41% 17% 25% % of Total Sales r s Flower and Pre-Rolls Edible and Beverage Other Category Market Share by Generation 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0 Post-Millennials Millennials Generation X Baby Boomers Silent G neration 22% 54% 8% 16% 24% 53% 10% 13% 25% 51% 12% 12% 21% 52% 13% 14% 17% 41% 17% 25% % of Total Sales Vapor Pens Flower and Pre-Rolls Edible and Beverage Other Category Market Share by Generation Fl r a re-Rolls 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0 Post-Millennials Millennials Ge eration X Baby Boomers Silent Ge eration 22% 54% 8% 16% 24% 53% 10% 13% 25% 51% 1 12% 21% 52% 13% 14% 17% 41% 17% 25% % of Total Sales Vapor Pens Flowe and Pre-Rolls Edibl and B v rage Other Category Market Shar by Generation Edibles and Beverages 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0 Post-Millenn als Millen ials Generation X Baby Boom rs Silent Generation 22% 54% 8% 16% 24% 53% 10% 13% 25% 51% 12% 12% 21% 52% 13% 14% 17% 41% 17% 25% % of Total Sales Vap r Pens Flow r and Pre-Rol s Edible and Beverage Other Cat gory M rket Share by Generation Other

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