High Yield Insights Study Finds Many #Cannabis Users Can't Identify A Favorite Strain
Nearly half of smoking and vaping users can't name a favorite or have no preference
Chicago - August 28, 2018 (Investorideas.com Newswire) Despite a majority of consumers (64%) reporting that cannabis strains are important in their purchase decisions, nearly half (45%) can't name their preferred strain or express no preference as revealed in a new study. The data, published by cannabis customer experts High Yield Insights, focused on users who prefer smoking and vaping formats. Of the few who do report a favorite, only a small percentage managed to identify a strain by name. GG4 and OG Kush, two popular strains, were called out by a minority of respondents while others could only manage "indica" or "sativa" when asked.
Limited recall for a favorite strain of flower or oil is not dissimilar from the lack of brand loyalty among edibles users. In previous research published by High Yield Insights, only 44 percent of consumers who preferred edibles could name their favorite brand.
"In general, cannabis users just don't have the level of loyalty or commitment you might expect," said Mike Luce, cofounder of High Yield Insights. "This is true across the board even among regular users, of whom nearly a third couldn't name a go-to strain. Strains are important to users but not how you might guess. The booming market, combined with the nature of the supply chain and variable product availability, creates too much distraction for users to gravitate to a favorite. As the market matures, users will come to expect a consistent and reliable product experience. That's why we're seeing a shift toward communicating effects, such as relaxation or focus, particularly in vaping. Our insights on the customer mindset paired with test results from the scientific community underline an uncomfortable truth: strain names are increasingly meaningless. The industry needs to hit reset on what's being delivered to customers."
The High Yield Insights' Smoking & Vaping report delivers intelligence on consumer and product trends based on exclusive data gathered from consumers who prefer these specific formats. By limiting results only to current users in legal states, the findings best represent the mindset of today's cannabis consumer. In addition to preferences on products, flavors, and forms, High Yield Insights uncovered valuable insights on the unique demographics of smoking and vaping consumers, enabling companies to target specific customer segments such as such as self-identified medical users and returning cannabis customers.
High Yield Insights will explore additional cannabis product categories in an upcoming report on Topicals to be published later in 2018. The reports are part of a first-ever insights series focused on cannabis consumer mindset, behaviors and preferences, including a look at recreational or adult use consumers, medical marijuana patients and consumers who prefer edibles. For more information on the full series, visit www.highyieldinsights.com.
About High Yield Insights
High Yield Insights is a Chicago-based market research firm fostering constructive discussions in the cannabis market that produce well-grounded strategic decisions. From consumer behavior and product design to market viability, High Yield Insights provides customers with actionable intelligence and strategic recommendations. Founded by leading executives with 30+ years of combined experience working with consumer brands, pharmaceuticals, retail, and financial services, the firm is the first of its kind to focus on micro-level consumer behaviors and preferences.
Natalie Bauer Luce
Marijuana / Hemp Stocks
Like Marijuana / Hemp Stocks? View our Marijuana / Hemp Stocks Directory
Join our Group on Linkedin - Marijuana / Hemp Stocks - News and Trends in Green Investing
Global Cannabis Investing - features Investor Ideas Cannabis news
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.