Owners and soon-to-be owners of cannabis companies, listen up! Millennials love cannabis. (It’s no joke.).This generation of consumers are a lot more open-minded to the prospect of legal pot as opposed to, let’s say, people from the “baby boomer” generation.
According to the results of a poll by The Tylt, 84% of 6,000 millennial cannabis consumers think that the plant should be legalized. Add to this the fact that 87.6% of millennials believe cannabis to be safer than alcohol, and it is pretty clear why investors must focus on the millennial perception of weed.
Millennials are Embracing Cannabis Reform at a Rapid Rate
The Tylt describes itself as “the largest and fastest growing social polling and opinion platform among millennials” and since its inception in 2016, its polls on cannabis use among millennials have caught public attention. Below are some stats gleaned from their poll on millennials using marijuana:
- 85.6% of millennials believe that cannabis is good for health
- 93.2% of millennials believe cannabis is a safer option for athletes than opiate-based painkillers
- 89.2% of millennials want cannabis to be permitted for use among sportspeople
- 81.2% of millennials think that people convicted of cannabis-related crimes should have their sentences wiped out
- 54.4% of millennials believe that public cannabis consumption should be legally allowed
Cannabis Companies Should be Targeting the Millennial Market
It’s not just these statistics that should encourage cannabis companies to target millennials. According to the Pew Research Center, support for cannabis legalization depends on the generation. However, over time, all age groups are warming up to the idea of legal weed. Currently, two-thirds of millennials support cannabis legalization, whereas the older groups are less supportive of cannabis reform.
The general public is fighting back against the war on drugs, so it’s not really surprising that the Millennial generation are recognizing the potential of the cannabis industry. Since millennials tend to possess better technological knowledge than those people in older age groups, they are easier to target with online marketing methods.
Online Presence is Key for Attracting the Millennial Market
Making an investment in cannabis requires plenty of research and understanding of the market. With the vast majority of millennials utilizing the power of the web to facilitate transactions, cannabis manufacturers and dispensaries must not ignore the importance of providing their audience with constant and immediate access to web-based information regarding their company, its visions, as well as its services and/or products.
Customer behavior is largely influenced by the millennial buyer’s access to online information. On that note, it is absolutely essential that a cannabis company accurately represents itself through WeedMaps, Yelp, and other online review websites. Offering incentives to customers who write a review is also an effective way of bolstering marketability among the millennial age group.