Tag: Business

Washington State: Seniors Spend More on Marijuana Products

Legal marijuana sales in Washington State have provided academics a rather unique opportunity – the ability to analyze and examine marijuana sales by demographics. Market data company Headset confirmed in their October report what most already suspected – “Cannabis is most popular with Millennials.”

Gathered from Headset’s database of customers, who voluntarily registered for a Washington State rewards programs, the study assessed the buying habits of four age groups, scrutinized their “brand preference,” and identified any age-related “price sensitivity.”

For the study, the company dissected Washington State’s recreational sales for September and categorized purchases in four demographics: Millennials (Under 35), Generation X (35-53), Baby Boomers (54-75), and the Silent Generation (Over 76).

By utilizing their proprietary data points, Headset’s report reveals how much legal weed was purchased in the Evergreen State … and just who was buying all that pot.

Primarily appealing to those with the XY chromosome, the report indicates that men bought way more weed than females. Out purchased by more than a 3 to 1 ratio for the month of September, men participated in 77.87 percent of Washington’s marijuana purchases, while females accounted for 22.13 percent of all recreational sales.

Men versus women – Washington state marijuana sales

Men purchased significantly more marijuana products during September than females

Though each group purchased its fair share of THC-laced beverages, capsules, concentrates, edibles, and tinctures during September – 62 percent of all in-state flower purchases were made by Millennial men. For the Silent Generation, those strains highest in CBD, as well as tinctures and topical ointments, topped their shopping lists.

Washington state September consumption report

Concentrates were most popular among Millennials

Popular across all demographics, Washington’s Hybrid strains smoked both Indica and Sativa in total sales for the month of September.

Hybrid most popular strains in Washington state

Hybrid, Sativa, or Indica?

Now that we have a greater understanding of who bought the most pot in the Evergreen State during September, let’s examine the year-over-year trend. Since September 2016, the average purchase amount has declined across all demographics. With the novelty of legal marijuana now gone, the sale of cannabinoid-related products has decreased for all four demographics.

Top 25 Marijuana Strains of September

What were the most popular marijuana strains in September?

Washington state marijuana purchases decline

Average ‘Basket Size’ by demographics

Dictated by disposable income, the report indicates the Silent Generation spent $7.22 more per item than their cash-strapped cohorts.

Washington State senior citizens spend more per item

Senior citizens spent more per pot product

Headset’s report discovered that marijuana consumers — at least the legal ones in Washington — have fiscal constraints. While Millennials were most likely to buy inexpensive products (under $10), Baby Boomers and the Silent Generation have a tad more disposable income to play with at Washington State dispensaries.

Who’s Buying All That Pot a Look at the Demographics of Cannabis Consumers 2017 by Monterey Bud on Scribd

 

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Don’t Worry, Rest of the Country, LA is Gonna Solve the Marijuana-Banking Crisis

No matter how many cities and states come around on marijuana reform and realize that legalizing is the only way to truly diminish the black market, put a dent in our government debts, and solve the opioid epidemic that faces our country, there’s still a gigantic 24-karat gold-plated elephant in the room — banking. Even […]

 

Start a Marijuana Business Today: CertificationClinics.com™ offers a comprehensive business model for recommending Medical Marijuana Certifications and/or Dispensary Ownership in your area. The CertificationClinics.com™ Business Support staff will educate you in every of the growing medical marijuana industry, providing you a fully operational and profitable enterprise. Learn More »

Alaska Reports Record Marijuana Tax Revenue for August

Based on the sale of 734 pounds of flower, the Alaska Department of Revenue is reporting the state collected $694,364 for the month of August.

On Tuesday, as Alaska’s voters in Fairbanks and Kenai were busy rejecting a proposed ban on their local growers and dispensaries, the state’s dept. of revenue disclosed that Alaska has raked in more than $3 million – from cultivators alone.

Alaska’s Cultivators Grow Tax Base

Marijuana sales for the month of August in Alaska

Alaska marijuana sales for the month of August

Collected from 56 wholesale marijuana producers at the time of transfer, the state received an average tax payment of $10,849 from each of Alaska’s cultivators.

Mandated by the voter-passed initiative, Measure 2, Alaska’s growers pay the state’s marijuana tax. Per the dept. of revenue, wholesale marijuana flower is taxed at $50 per ounce – while stems and leaves are taxed at $15 per ounce.

Alaska sells more than 734 pounds marijuana

Alaska collects over $690,000 in tax revenue on 734 pounds of weed

Industry Receives Green Light from Voters

In support of their local marijuana industry, on Oct. 3, voters of the Kenai Peninsula Borough rejected efforts to ban legal marijuana dispensaries and commercial cultivation.

cannabis-cultivation-alaska

“The votes this week came during local elections in the state’s major marijuana growing areas.” And according to SF Gate, “All lost by wide margins.”

Shocking few and pleasing many – the proposed ban was rejected by nearly 70 percent of the voters.

 

Start a Marijuana Business Today: CertificationClinics.com™ offers a comprehensive business model for recommending Medical Marijuana Certifications and/or Dispensary Ownership in your area. The CertificationClinics.com™ Business Support staff will educate you in every of the growing medical marijuana industry, providing you a fully operational and profitable enterprise. Learn More »