According to market research firm Brightfield Group, millennials and Gen Xers account for over two-thirds (71%) of CBD users, though millennials take more doses per day than Gen Xers.
Brightfield Group also found that both generations are more informed about the CBD dose they take — especially when compared to Baby Boomers. Knowledge and preference will only increase as millennials and Gen Xers become more experienced users. Retaining and gaining the loyalty of these groups will take innovative, unique offerings that deliver on product expectations.
Word of mouth is the most popular outlet for initial CBD awareness among both generations, according to Brightfield Group. Millennials are more likely to learn about CBD from social media, in-store browsing or from a budtender (a staff member who works within a dispensary or store where medical or recreational cannabis is sold). Gen Xers, on the other hand, tend to learn about CBD from more traditional sources like doctors, the news/TV or print ads.
Interestingly, Brightfield Group reports that 17% of consumers not open to trying CBD incorrectly report not desiring the psychoactive effects of CBD (which there are none), and another 16% believe CBD does not work.
“Countering misconceptions with approachable information on CBD could help convert non-believers into potential users or prevent people from adopting incorrect beliefs all together,” said Brightfield Group, which also found that 18% of consumers not using CBD today admit they do not know enough about CBD products. “Education on product types and use cases is key in educating younger generations to increase usage, help with CBD penetration and hopefully increase spend over time.”