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SEATTLE, April 4, 2023 /PRNewswire/ -- Headset, the leading provider of data and analytics to the cannabis industry, today released its report highlighting key demographic trends within the cannabis market. The report utilizes data from millions of individual transactions across eight U.S. states and two Canadian provinces to provide insights regarding the age, gender and location of cannabis consumers. Headset's analysis provides a snapshot of the current cannabis landscape while also informing businesses about the future of the industry.
Headset segments key shifts within the cannabis industry along the lines of gender and age. In the United States and Canada, male consumers account for nearly two-thirds of cannabis sales. Also, Millennials account for more than 60% of cannabis sales in both the U.S. and Canada. However, female representation in total sales is growing steadily in both countries while Generation Z consumers continue to increase their purchasing power year over year. Key takeaways from Headset's 2023 Demographic Report include the following:
Millennial and Gen Z consumers account for 72.1% of all tracked sales in Canada and 63% in the U.S. Furthermore, Gen Z is the fastest-growing age group in both the U.S. and Canada. Their percent share of total sales has grown 11.3% and 6% respectively year-over-year.
In the U.S. and Canada, males account for roughly two-thirds of all cannabis sales while female consumers capture the remainder. However, there has been a slight increase in the percentage of total sales among female consumers since January 2021. Between January 2021 and December 2022, the overall growth rates in Canada and the United States are equal to 1.2% and 0.27% respectively.
Vapor Pens have the highest share of total sales among Gen Z in the U.S. with 33.6% of total sales in January and February, the first demographic to dethrone Flower as the top consumer category.
There is a significant trend of larger average transaction sizes as a consumer's age increases. The average basket size of Generation X and Baby Boomers is above $60 while the average basket size of Millennial and Generation Z consumers remains below $55.
"Those who plan for the future will succeed when it arrives," said Cy Scott, Founder and CEO of Headset. "Our comprehensive demographics report not only provides data regarding the current state of the cannabis industry, but it will also help brands plan for the future and build a sustainable, thriving business. From the consumer preferences of Generation Z to the rising female consumer base, there are several trends to examine. It will be interesting to reflect on this report in a year and examine what new trends emerge."
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