Currently, the annual cannabis customer spending of women alone amounts up to $20 trillion, and this figure can go up to $28 trillion in the next five years, as per an article by Harvard Business Review.
In the United States, women account for 70-80% of consumer spending and play a key role in influencing the buying decision of those close to them. As per a survey conducted by Girl Power Marketing, 92% of the women share information about discounts, deals, and promotions with others.
With medical or recreational cannabis being legal in 23 states, female consumers are playing their role in shaping the market and enabling it to expand by embracing cannabis-related medical and wellness products.
Furthermore, the fact that 90% of the household healthcare decisions are made by women really paves the way for the growth of the medical cannabis market. In 2013, its market experienced sales worth $1.8 billion. As per a report by CNN, the figure might reach $5.4 billion in 2015.
How Does Women’s Wellness Account For The Surge In The Cannabis Market?
Women are readily turning to cannabis products for a variety of health reasons, where menstruation, menopause, and sexual activity rank at the top. In addition, they are utilizing cannabis at a higher rate with the availability of many product forms of cannabis, such as edibles, topical treatments, or oils.
They look forward to dispensaries that offer comprehensive information for all cannabis with regards to their beneficial or adverse side effects. Furthermore, they seek companies that promote the responsible usage of cannabis products.
A woman-centered cannabis magazine founded by Kate Miller and Anna Duckworth has a publication that revolves around normalizing the consumption of cannabis amongst women.
The publication focuses on providing various educational snippets encompassing a wide range of lifestyle topics such as beauty, self-care, smoking etiquette, etc.
Both Miller and Duckworth have been in the industry for quite a few years and have observed the stark change in the consumption of cannabis as well as the acceptance of its usage.
Duckworth said in an interview: “The legalization of cannabis has created an uproar for more information. Women are looking forward to plant-based and non-toxic remedies for health, and cannabis seamlessly encompasses all these fields.” She added: “This is one of the major reasons why women are leaning forward to using cannabis products and making it part of their self-care routine.”
Benefits of Cannabis for Women
With our fast-paced lifestyles and health issues rising, people are more concerned about their health and are willing to invest in it for the sake of their well-being.
As per a research, The Cannabis Industry within the USA: The Influence of Gender on Cannabis Policy and Sales, conducted by Casey Camors, Stacy L. Chavez, and Andrea M. Romi of the Department of Accounting, Rawls College of Business, Texas Tech University, Lubbock, Texas, USA, stated some of the unique health and wellness benefits of cannabis for women which include but are not limited to:
- Relive from chronic pain conditions such as childbirth, menstruation, and other gynecological conditions;
- Treatment for the symptoms of premenstrual and menopausal conditions;
- Facilitating lactation;
- Treatment for uterine disorders, spasticity, pain, tetanus, tremor, fatigue, and asthma;
- Treatment for autonomic dysfunction associated with disorders such as multiple sclerosis;
- And treatment for endometriosis.
“There is a significant shift in the way people are taking care of themselves,” Miller said. “Women, who once ignored or overlooked their health are now more aware of their health and are actively seeking to understand how cannabis contributes towards their well-being.”
With that being said, the usage of cannabis is still stigmatized amongst women, and some feel that it is something to use in secrecy.
Stigmas Revolving Around Women Consuming Cannabis
In a Seattle-based publication, a survey was conducted to understand female cannabis consumers. It included a sample population of 1530 women who either were active cannabis users or wanted to try it out.
The age of the women ranged from 19 to 21 years.
As a result of the survey, 70% of the women personally believe that the consumption of cannabis is still stigmatized, where 66% of these women consume cannabis in secrecy because they feel that they’ll be judged in public.
This fear of judgment is the biggest reason why women feel the need to hide their usage of cannabis. They are worried about derogatory terms. They are more hesitant to use or show their usage in front of others.
One other finding of the survey report was that the state also matters a lot. So, for example, in a state like Washington, the consumption of cannabis won’t be a big deal, but the same in Alabama would be a problem.
Interestingly, most women seek cannabis for medicinal purposes and not recreational. The survey suggests that this may be due to the fact that women look at stress and anxiety from a medical perspective.
On the Brighter Side
Regardless, women are not letting the stigmas define their usage of cannabis. Here are some key stats from the survey showing the willingness of women to open up to this industry and what it has to offer:
- 60% of the women wanted to know the benefits of cannabis for skincare;
- 32% of the women were looking forward to involvement in the cannabis industry;
- 43% of the surveyed participants were aware of the benefits of cannabis;
- 89% of the moms were talking to their kids about cannabis;
- 68% of the women wanted a better retail experience;
- 38% of the women reported that cannabis helped them be more calm and playful with their kids.
With women taking an active interest in investing in cannabis and its products, the industry also has to realize the demand for high-quality products that fit their lifestyles and can replace unhealthy habits such as drinking alcohol or taking a pill to sleep.
Furthermore, if companies started to opt for more women-centric branding of their products, perhaps the skewness in the market would be a bit balanced, and women won’t feel hesitant to talk or use cannabis openly.
For all the other ladies who are actively using cannabis, they seek quality and ease of access from the market. Therefore, to expand their clientele and maximize their sales, companies need to cater to the needs of their fastest-growing consumer demographic.
Let’s conclude it here!
All-in-all, the market needs to recognize the impactful purchasing power of women with regards to health and wellness decisions combined with the rising awareness of cannabis products amongst them can account for a higher number of sales than expected.
If you’re looking for high-quality cannabis products for health and wellness purposes, beauty and skincare purposes, or just to explore the products, we suggest visiting Vegas dispensaries. You can find cannabis in a wide range of product forms and buy the ones that best suit your needs.