By Eric Layland (AP)
The cannabis industry is full of surprises. New market trends expose themselves as the modern cannabis landscape continues to evolve under the constraints of legalization. To this end, novel consumer studies are slowly demystifying the purchasing patterns of a trade once shrouded in mystery, with fascinating results.
One of the more intriguing findings coming from cannabis market analyses has to do with the rise of the baby boomer generation in the contemporary marketplace.
The cannabis industry as a whole sees a slow progression toward market stasis, or stabilization, in established cannabis-friendly states such as Colorado, Washington, and Oregon. This relative market stability gives data analytics companies such as Headset, New Frontier Data, and BDS Analytics the ability to access and catalog real-time metrics on consumer purchasing habits in these states. Such studies are now offering valuable insights into contemporary cannabis market trends. These studies also give a glimpse into what a mature marketplace looks like.
The baby-boomer generation of 2018 – a cultural grouping which for social conservatives has traditionally served as cornerstones of both stability and moral purity in most family dynamics — is now well into the age of grandparenting. Nonetheless, a Marijuana.com article published in May 2018 cites baby boomers as the fastest-growing demographic of cannabis consumer in the legal marketplace. The Washington Post reported a 250 percent increase in cannabis use by consumers 65 years and older from 2006 to 2014. Looking forward, industry experts are uncovering some interesting reasons as to why today’s grandparents are increasingly enjoying cannabis.
The baby boomer generation is largely defined by the hippie-era escapades of the 1960s, in which cultural currents in anti-Vietnam War protests and psychedelic rock ran together in a tie-dye stream of consciousness expansion. As such, unlike the grandparents of Generation X – who are now well into their 80s and 90s – baby boomers were heavily exposed to marijuana use in their teenage years. While teenagers of today are part of social movements largely entwined with commercialization and pop culture, baby boomers experienced a drastically different environment in their youths.
In the 1960s, cannabis use was hip and cool, and mind expansion served as a point of social subterfuge that eventually overtook the entire nation as a common practice. As such, baby boomers of today are revisiting the cannabis use that largely defined their youths and young adulthood, but now without fear of prosecution. Moreover, their experience with marijuana stood in contrast with the anti-marijuana sentiments (and myths) of the 1980s war on drugs. Baby boomers smoked plenty of cannabis when they were young, and they turned out just fine.
Looking at the infrastructure of the modern cannabis industry, baby boomers are also attracted to cannabis use as products that can be procured in a controlled environment and that can offer predictable effects. To illustrate, the prospect of an elderly person purchasing cannabis in a shady back-alley deal has doubtlessly curbed usage by generations in the past. Today, dispensaries offer a safe place to buy cannabis products under the educational guidance of skilled budtenders. Similarly, marijuana products now must undergo strict testing protocols for purity and strength, offering solace and confidence in purchasing.
Cannabis businesses develop specific product lines from which baby boomers can purchase with predictable psychotropic and physical effects in mind. To illustrate, Illinois-based medical marijuana company Cresco Labs labels its products under the headings “Rise” for sativas, “Refresh” for hybrids, and “Rest” for indicas. This simplified approach to product development and branding removes much of the esoteric guesswork in cannabis shopping.
Baby boomers’ interest in cannabis use is growing because of the medicinal benefits of marijuana products. In a society increasingly inundated with habit-forming prescription drugs, as well as a healthcare system that is hesitant to recognize alternative and homeopathic medicines, cannabis presents a welcome option for baby boomers.
Of all the medical marijuana products on the market today, CBD medicines are one of the most popular choices for seniors. As most CBD products contain little to no THC, baby boomers are enjoying the benefits of these “low-euphoria” and “non-euphoria” cannabis meds, without being concerned with “overdoing it.” The medicinal legitimacy of CBD products has been explored among a vast array of ailments, including anxiety, chronic pain, sleep deficiency, among others. Finally, to suit the medical needs of baby boomers, CBD products are offered in a variety of forms, including topicals, tinctures, edibles, and vape pens.
While recreational cannabis usage among younger generations is stimulating sales in today’s legal markets, baby boomers are proving to be a stable consumer demographic for the industry. Moreover, today’s senior citizens are utilizing cannabis products for much needed medical relief, a concept which gave rise to the marijuana legalization movement in the first place. For advocates and opponents alike, it’s difficult to deny baby boomers of a natural medicine that makes their lives more comfortable – this simple fact perhaps gives the modern cannabis movement more staying power than any other current growth trend.
