Analysis of consumer choices in 2020 across the world’s largest cannabis market offers important lessons for emerging markets nationally and globally
CALIFORNIA: Eaze, California’s largest legal cannabis marketplace, today released its sixth annual Eaze Insights State of Cannabis Report. The 2020 report, “How Cannabis Consumers Responded to Crisis”, looks at aggregate consumer trends driving the world’s largest cannabis market in a year rocked by unprecedented cultural, economic and public health challenges.
The report aggregates Eaze’s proprietary data to illustrate the behavior of the over 400,000 consumers who purchased via the platform in 2020. With 6.5 million legal deliveries completed to-date, Eaze can offer unique insights into how 2020 impacted consumption, uncovering patterns that can be generalized to markets nationally and globally.
Key findings include:
- Consumers relied on cannabis delivery during quarantine. Consumer demand driven by COVID-19 led to significant increases in the number of new deliveries and order size.
- Calls for social justice elevated equity brands. 2020 saw a greater demand for social equity products, underscoring increased consumer awareness – especially among customers over age 30 – about the importance of BIPOC-owned brands.
- Edibles won the year. Edibles became the most popular product category across major markets and age groups, reflecting the public health focus on COVID’s respiratory impacts. Cannabis drinks especially benefited from the shift to Zoom socializing.
- A tough holiday season increased consumption. Consumers used more cannabis over the 2020 winter holidays, when many celebrated without their families.
- Cannabis helped us stay sexy at home. Consumers increasingly relied on weed to increase their sexual satisfaction during stay-at-home orders.
- Cannabis won the 2020 election. Cannabis legalization in Arizona, New Jersey, Montana and South Dakota united voters on both sides of the aisle and outpaced presidential candidates in key states. In Arizona, Mississippi and New Jersey, cannabis got more votes than either presidential candidate. Consumer anxiety, meanwhile, fueled a demand uptick as votes were tallied.
“In this crisis year, cannabis emerged as an essential product and a unifying political issue,” said Ro Choy, CEO of Eaze. “Consumers relied on delivery during the pandemic and policymakers in emerging markets should look at the data and anticipate how robust demand for legal delivery will work in their communities. The report also shows consumer excitement for social equity brands, affirming that putting money in the pockets of BIPOC entrepreneurs is good business and a direct way to address the War on Drugs.”
The full report can be found here.