A pair of reports from Cannabis-industry data and analytics firm New Frontier Data – volumes 3 and 4 of its U.S. CBD Consumer Series, “Consumption Drivers” and “Social Influences,” provide in-depth analysis on CBD consumer groups and the factors shaping consumption behaviors.
The reports provide a comprehensive assessment of a U.S. Census-adjusted survey of the nation’s general population regarding uses, purchasing habits, beliefs and attitudes about the cannabinoid CBD and products containing it.
In “Consumption Drivers,” respondents were grouped into four cohorts based on their primary reason to consume CBD including medical, pain management, unwinding and general wellness, revealing key insight for brands to refine their messaging and inform product innovation strategies.
“Social Influences” builds on New Frontier Data’s extensive research on the cannabis consumer, highlighting the importance of social networks and loyalty programs to attract and capture consumers.
“As the market is flooded with more product choices, CBD brands and retailers would be well-served to delineate and target their consumers as they would in any other mainstream product category,” noted New Frontier Data founder and Executive Chair Giadha A. DeCarcer.
Social Influences and Consumption Drivers provide key insight for brands and retailers:
- 30% of surveyed consumers expect their CBD usage to increase, signaling an opportunity for CBD brands to capitalize on a growing market.
- 49% of surveyed consumers do not have a preferred CBD brand, underscoring an opportunity for brands and retailers to implement loyalty strategies across the CBD market.
- 62% of medical consumers of CBD use it at least weekly and are more likely to show brand loyalty.
- 79% of general wellness consumers primarily or mostly source CBD through online retailers.
- 84% of consumers say CBD was recommended by someone they knew, offering opportunities for brands to capitalize on word-of-mouth marketing such as social media to attract new customers and build loyalty.
Headquartered in Washington, D.C., New Frontier Data’s mission is to inform policy and commercial activity for the global legal cannabis industry. It maintains a neutral position on the merits of cannabis legalization through comprehensive and transparent data analysis and projections that shape industry trends, dynamics, demand and opportunity drivers.