Akerna (NASDAQ:KERN) released a data report on women’s cannabis shopping habits as the demographic group continues to gain market share, up 3.3% since 2019.
“Cannabis has plenty of stigmas and stereotypes, but the data doesn’t lie – it has a broad appeal to people of all ages, sexes, and socioeconomic statuses,” Jessica Billingsley, Akerna’s CEO said. “I expect to see more and more brands targeting their products and marketing towards women in the coming years. Otherwise, they will risk losing participation in this growing market to the competition who does.”
Regarding women’s current product preferences, flower and cartridges are top choices, with concentrates coming in third – a category that recently overtook edibles for the first time, which moved down to the fourth most popular category for women.
Data also showed direct correlations between age and product sales.
The youngest age groups of women are most likely to buy concentrates, with product share gradually declining as age goes up.
On the contrary, the more mature groups of women spend the most significant amounts on infused edibles, a value which decreases gradually with each younger age group.
“Concentrates are perceived as an advanced cannabis consumption method, which could be why they appeal the most to younger populations which have grown up with the legalization of cannabis,” James Ahrendt, business intelligence architect at Akerna said.
Other values for women cannabis shoppers:
Average products per order
- Medical: 2.98 products
- Adult-use: 3.12 products
Average spent per order
- Medical: $123.41
- Adult-use: $76.80
Sales by age groups:
Under 30 – 27.3%
30-40 – 29.3%
40-50 – 19.2%
Over 60 – 10.6%
In 2019 when Akerna became the first woman-led cannabis compliance firm to list on the NASDAQ, the move encouraged other women to push yet further into the fray. For example, women like Dr. Chanda Macias, CEO of Ilera Holistic Healthcare and Roz McCarthy, founder of Minorities for Medical Marijuana, both of whom will be attending Benzinga’s Cannabis Capital Conference this coming 4/20 in Miami Beach.
Check here for more info on what is surely going to be the cannabis event of the year.