Millennials Drive On-Demand MMJ Sales in California
According to a report from New Frontier Data and greenRush.com, #millennials account for 80 percent of online cannabis purchases, which the analysts suggest reflect the 18 to 34-year-olds’ higher rates of cannabis use and online interaction. The report, “Cannabis On Demand: Evolving Trends in California’s Medical Market” includes market growth forecasts for the state, consumer demographics, and product and transaction trends.
The researchers found that flower represents 70 percent of all #cannabis products purchased through the #GreenRush platform, and 60 percent of those are one-eighth orders. #Concentrates represent 22 percent of GreenRush purchases.
According to the report, #California medical cannabis sales are expected to reach $2.8 billion this year and as much as $6.6 billion by 2025, representing a compound annual growth rate of 12 percent.
“Significant changes are already underway in California for #medical cannabis and #adultuse laws, which we see will have major implications for the cannabis industry, including e-commerce and #delivery #services in the state,” said Giadha Aguirre de Carcer, New Frontier Data CEO in a press release. “As the largest state in the country – and the largest potential market for cannabis products – the implications for the growth of the industry because of California’s adult use market cannot be overstated.”
According to the report’s executive summary, Fridays and Saturdays account for a third of all order through the on-demand platform, and men spent $71.27 per transaction on average while women spent $69.15. On average, customers spent $70.67 per transaction.
The data covers greenRush sales from January 2016 through April 2017.
