By The Numbers: Dispensary Owners And Non-Consumers Surveyed In Weedmaps’ 2021 Cannabis Data & Insights Report
Curious about America’s retail cannabis industry? A recent report from tech company Weedmaps (Nasdaq: MAPS) provides valuable insights and data from dispensaries and their owners, with a portion of the 70-page report dedicated to retailers.
In addition to surveying cannabis consumers and dispensary owners, Weedmaps also surveyed non-cannabis users about legalization, its implications, and their misconceptions about the plant.
Over half (53 percent) of dispensary owners believe there is still a negative stigma attached to the cannabis industry, while 63 percent believe it’s personally one of the best things to have happened to them.
GREED VS. GIVING BACK
Just 23 percent of dispensary owners said they believed that most cannabis companies are only in the industry for profit, while 63 percent believed cannabis companies make a positive impact on society. Almost half, or 47 percent, said the cannabis industry gives back to the community.
Just 57 percent of dispensary owners said they believed that everyone should have access to opportunities in the cannabis industry, while 70 percent said they believed everyone benefits from a more diverse and inclusive cannabis marketplace.
Less than half (43 percent) of dispensary owners said they supported social equity programs in the cannabis industry, and just 27 percent said there should be more social equity programs to create a more diverse and inclusive marketplace.
How important is brand product syndication? About 40 percent of dispensary owners surveyed said having product images, descriptions, and verification syndicated directly to an online menu is extremely important for consumers making a purchase decision.
Thirty-four percent said product reviews were an important feature, while 18 percent said real-time alerts on trending products was an important feature to offer customers.
Given the lack of cannabis education, 77 percent of non-consumers said they consider themselves novices or beginners when it comes to cannabis knowledge, with 30 percent saying they got their cannabis information from family and friends, 19 percent from social media, and 18 percent form non-cannabis related websites, apps, magazines, or journals.
Among non-consumers, 15 percent of millennials said they wish they knew more about cannabis, while 17 percent of millennials said they would be more comfortable with legalization if they knew more about cannabis. As for Gen Z, 21 percent said they wanted to know more about how cannabis affected the body.
Over one fifth (21 percent) of non-consumers said they believed cannabis was a “gateway” drug, while 20 percent said it was more addictive and more dangerous than cigarettes or alcohol. Thirty-six percent said they believed legalization would increase use among youth.
Among those living in non-legal states, most non-cannabis users (61 percent) who took part in Weedmaps’ survey said they weren’t sure what would happen in their state once cannabis was legalized.
Among those who did have an opinion, 28 percent said it would generate new tax revenue, 11 percent said it would decrease opioid-related use and deaths, 11 percent said good-paying jobs would be created, and 7 percent said crime rates would remain unaffected by legalization.
In legal states, 38 percent of non-consumers said they weren’t sure of the impact legalization had had. Of those who did have an opinion, 18 percent said new tax revenue was generated, 8 percent said good-paying jobs were created, 12 percent said crime rates increased, and 7 percent said traffic fatalities remained unchanged.
The biggest takeaway from the latter half of Weedmaps’ report was that even if non-consumers lacked knowledge or understanding of cannabis, they understood, generally, that the positives of legalization outweigh the negatives.