According to a High Yield Insights report, recreational cannabis users report sharp decreases in over-the-counter medication use, sleep aids, and alcohol use.
By the numbers: 27 percent of recreational cannabis users reported using fewer over-the-counter medications, 22 percent reported using fewer sleep aids, 21 percent indicated they consumed fewer spirits, and 20 percent said they consumed less beer.
The researchers also found individuals 55-and-older are “re-engaging” with cannabis. Mike Luce, co-founder of High Yield Insights, said that 55 percent of those 55-and-older returned to using cannabis after having tried it when they were younger.
“We are just starting to grasp how legalization has impacted consumer behavior, be it spending, usage occasions, or shopping habits. Understanding these changes will lead to new growth opportunities for cannabis and further disruption for other categories.” – Luce in a press release
The analysts found that 65 percent of respondents viewed legalization as positive for their communities. Consumers also indicated that they want to see more convenient cannabis products such as edibles and pre-rolls.
The report is the first in a series from Chicago, Illinois-based High Yield. Upcoming reports will focus on micro-level consumer behaviors, and cannabis product and format preferences.