Millennials are buying more cannabis than any other generation, holding a 51 percent market share in 2017, followed by Gen Xers (34 percent) and Baby Boomers (15 percent), according to an October 2017 report commissioned by Headset.
Headset, a real-time cannabis business intelligence and analytics service, used demographic data drawn from customers who have signed up for rewards programs with its Washington State retail partners to explore generational differences of buying patterns, brand preference and price sensitivity.
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Other notable highlights within the report include:
- Flower is the largest sales category for Millennials, Gen Xers and Baby Boomers.
- Phat Panda, a Washington State producer, was the preferred brand of Millennials, Gen Xers and Baby Boomers.
- The average transaction price for all generations has steadily decreased since 2016. The Silent Generation (ages 76+) has seen the biggest decline in average ticket price, dropping from an average of $56 in September 2016 to $33 in August of 2017.
- More than 50 percent of purchases by Millennials were under $10.
- Female buyers make up a larger portion of the market for Gen Xers (35 percent) and Baby Boomers (38 percent) than any other generation.
The data for this report was obtained from real-time sales reporting by participating Washington State cannabis retailers via their point-of-sale systems from September 2017. Headset cross-referenced this data with its catalog of more than 150,000 products to provide robust information on market trends.
Top image: © Roxana Gonzalez | Dreamstime
