A lot of Americans still aren’t sure exactly what CBD is or what it can do for them. Worse, a lot of convenience store operators still aren’t sure who their CBD customers are – the very first thing they need to know in order to capitalize on the trend.
So – who is buying CBD and why?
According to recent research, Americans between the ages of 25 and 35 use CBD more than those in other age groups. Users of CBD are those who consume cannabis with low or no tetrahydrocannabinol (THC), with no psychoactive effects. That means, unlike marijuana, they don’t get the user “high.”
According to the U.S. Food and Drug Administration, hemp-derived CBD products are legal in all 50 states, as long as they contain no more than 0.3% THC. Among the Americans who use CBD, the most common uses are for pain relief (64%), anxiety (49%), and insomnia (42%).
Men are more likely to use CBD than women, although Gallup research earlier this year found that women are more likely to use it for anxiety than men.
Segmented according to race, CBD users are 64% Caucasian; 12% Hispanic or Latino; 5% Black or African-American; 4% Asian or Asian-American.
Researchers have also found that 11% of people ages 22 to 25 use CBD, as do 22% of those aged 26 to 34 and 31% of people ages 35 to 49. Among purchasers, millennials are the most likely age group to purchase CBD. Approximately 54% of millennials polled said they have purchased a CBD product, compared to just 34% overall.
According to a survey by SingleCare, almost half of those who use CBD prefer oils/tinctures, lotions/balms and gummies. There is also a growing market for CBD edibles.
The company found that:
- 18% are interested in capsules/tablets
- 18% are interested in topical sprays
- 17% are interested in CBD-infused food, such as chocolate
- 13% are interested in vaping products
- 12% are interested in soap
- 11% are interested in non-alcoholic, CBD-infused drinks
- 9% are interested in CBD bath bombs and salts
- 8% are interested in skincare products
- 8% are interested in patches
- 1% are interested in other CBD products
The benefits for convenience store operators who go to the trouble to become familiar with their CBD customers can be great: The CBD market is expected to top $25 billion by 2025, according to a study by the Brightfield Group.