CHICAGO, Dec. 7, 2016 /PRNewswire/ -- CannaUse is the largest national consumer study on legal cannabis usage, market segmentation, and product substitution.
This groundbreaking study of over 55,000 people sourced respondents from the National Consumer Panel. The results tell a story of the cannabis consumer that's far different than the "stoner" stereotype often portrayed in television and film.
What are cannabis consumers thinking? According to CannaUse results, about 1 in 10 US adults (or 29.5 mm) have legally purchased marijuana at some point since medicinal legalization first began in California in 1996. In addition, 40% of adults in states where there are no legal recreational markets indicate they would purchase marijuana if it were legal to do so. Put another way, there are more than 90 million US adults with serious interest in a product they can only legally obtain through travel or in some cases debilitating illness.
In addition to setting benchmarks for purchase interest outside of legal markets, the data also leads to the indisputable conclusion that legal cannabis will have a rapidly growing influence on existing industries.
CannaUse data, combined with other data assets and proprietary analytic models, offers intelligence on changing consumer attitudes and behaviors that impact businesses outside of the cannabis industry.
"There is no question that businesses need to understand the financial implications of legalized cannabis markets. As a result of CannaUse, companies can, for the very first time, access information that allows them to understand the impact of legal cannabis on their buyers, brands, and categories," said Rick Maturo, Co-Founder and Chief Product Officer.
For instance, C2G analysis shows dollars spent on over the counter medications are being lost as adult use cannabis markets swell. "We can tell you how legal cannabis changes spending of consumers that live within 5 minutes of your local pharmacy," said Rick Maturo.
"CannaUse will become the standard predictive service used across industries to understand current and future implications of legal cannabis among key consumer groups," said Leslie Townsend, CEO of Cannabiz Consumer Group. "The result is the ability to get ahead of the rapidly expanding cannabis market."
About Cannabiz Consumer Group
Cannabiz Consumer Group investigates the impact of marijuana legalization on consumer spending throughout the economy.
Bringing together a team with expertise in the tracking of emerging markets, data modeling, and predictive analytics, Cannabiz Consumer Group focuses on specific industries that must adapt quickly to cannabis legalization. This includes over-the-counter medications, beer, wine, spirits, tobacco, other foods and beverages, retail, pharmaceuticals, healthcare, and travel / tourism. Each are subject to shifts in consumer spending as existing legal use markets continue to evolve and new markets launch.
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SOURCE Cannabiz Consumer Group