With the one-year anniversary of cannabis legalization in Canada rapidly approaching, round two is about to shake things up
With the one-year anniversary of recreational cannabis legalization in Canada rapidly approaching, round two is about to shake things up.
Cannabis 2.0, which will allow companies to sell edibles, extracts and topical products, is expected to pull in another three million Canadians who had no interest in the market before, notes a recently released joint report by EY Canada and Lift & Co.
The emergence of new consumer segments is expected to happen alongside the evolution of the young cannabis industry. Far from days when pot users were viewed as nothing more diverse than stoners, the report surveyed 3,000 Canadians and identified six new connoisseur groups Canadian businesses gearing up for 2.0 should have on their radar.
Among current consumers, the new groups are Versatile Connoisseurs, who are well-informed on the effects of THC and CBD, Wellness Inquisitors, who choose vaporizers over all other methods of use, and Social Enjoyers, who generally only consume cannabis at home or at a friend’s home.
Among non-consumers, the report identified Approval Seekers, nearly half of whom oppose legalization due to negative perceptions; Skeptics, who are unlikely to sample cannabis for fear of long-term consequences; and, finally, the Unconvinced, who believe the drug is harmful to society and are not likely to partake in 2.0.
Understanding any new segments that emerge will be vital to companies entering the edible marketplace, with non-consumers most in need of educational efforts to allow for informed product decisions. The report found educated consumers were more likely to experiment with different forms of cannabis.
“Ease of use and adaptability of cannabis products is an important factor for reducing barriers to consumption and contributes to a positive first-time experience,” the report noted.
Among the more interesting findings in year one, were that Canadians prioritized high THC, low prices and CBD-only products when making purchases.
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Written by David Yasvinski