New Poll Reveals the Hottest Cannabis Consumer Trends this Holiday Season

Rhea-AI Summary

Jushi Holdings has released the results of its inaugural Cannabis Consumer Insights Holiday poll, indicating that 91% of cannabis consumers in adult-use states plan to incorporate cannabis into their holiday celebrations. The survey, conducted among 1,000 respondents, also revealed that 76% intend to give cannabis or related products as gifts this season. The popular product choices are flower, pre-rolls, and edibles. Spending patterns show that 27% typically spend $100 to $150 monthly on cannabis. This data highlights a significant trend in cannabis consumption and gifting during the holiday season.

Positive

• 91% of cannabis consumers plan to use cannabis during holiday celebrations.
• 76% of respondents intend to give cannabis or related products as gifts.
• Consumer spending on cannabis shows a strong monthly commitment.

Negative

• None.

Cannabis at Holiday Celebrations...the New Stocking Stuffer? Poll Finds 91% of Cannabis Consumers in Adult-Use States Plan to Consume the Plant as Part of their Holiday Celebrations; 76% of Respondents Also Plan to Give Cannabis or Related Products as Gifts this Holiday Season

BOCA RATON, Fla., Dec. 01, 2021 (GLOBE NEWSWIRE) -- Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, released the results of its inaugural “Cannabis Consumer Insights Holiday” poll, which surveyed 1,000 cannabis consumers from U.S. states with state-legalized cannabis sales. The national survey, conducted by Pollfish, commissioned by Jushi and overseen by Associate Professor at ArtCenter College of Design, Interaction Designer, Futurist and Jushi Experience Director Julian Scaff, reveals cannabis consumers 21 years and older in adult-use states overwhelmingly plan to consume cannabis as part of their holiday celebrations this season. Furthermore, the majority of respondents plan to give cannabis as gifts this holiday season. The survey also revealed cannabis consumers’ favorite types of cannabis products, with flower and pre-rolls together taking the combined top spot, followed by edibles and vapes.

“As a Company that places a premium on leveraging the power of research, data, technologies and processes, our Cannabis Consumer Insights Holiday poll shares important revelations into how today’s cannabis consumers’ preferences and behaviors are shifting,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “As we close out the year, we look forward to continuing to share our learnings with the larger community, particularly as the sector rapidly evolves and cannabis consumers shift their behaviors.”

Cannabis Gets Festive
In the survey, more than nine out of 10 respondents (91%) said that they plan to use cannabis as part of their holiday celebrations this year. In addition, when asked how much is typically spent on cannabis per month, 27% of respondents reported spending $100 to $150, 25% reported $50 to $100 and 20% reported $150 to $200.

The New Stocking Stuffer
An overwhelming majority (76%) of respondents said they plan to give cannabis or related products as gifts this holiday season. However, even more respondents stated that they planned to give cannabis as gifts when full legalization is enacted. When asked, “if cannabis was legal across all of America, would you be more likely to purchase cannabis or cannabis-related products as holiday gifts,” 88% stated yes.

Driving Factors in Selecting Cannabis Products
When asked to rank the two most important factors in choosing a cannabis product, THC level (50%) and price (49%) took the top slots. In terms of favorite types of cannabis products (check all that apply),” respondents listed: flower (52%) and pre-rolls (46%) as the combined favorite, followed by edibles (65%), and then, vapes (46%). Seventy-four percent of respondents reported that the specific strain (i.e., “Sour Diesel”) is important or very important in choosing a cannabis flower product. Additionally, when asked “how important is the brand of a cannabis product to you,” 74% of consumers stated it was important or very important.

Home Delivery, Online and Express Checkout
When asked “how do you typically shop for cannabis,” the majority of respondents said shopping in-store at a dispensary was their preferred method (58%). However, purchasing online and getting express or curbside pickup came in at 27%, while ordering online and getting home delivery came in at 16% – signaling an ongoing shift in retail’s digital and physical convergence, as well as the impact COVID-19 has had on shopping behaviors.

Health & Wellness: Cannabis & Alcohol Consumption
When asked “what do you use cannabis for (check all that apply), anxiety/stress took the top placement with 72% of the vote, followed by sleep at 57% and pain at 54% as the most common ailments people are managing with cannabis. Nearly a quarter (24%) of the poll’s respondents stated they are drinking less, and more than 15% stated they stopped drinking alcohol because of cannabis. However, 23% stated they consume more alcohol since using cannabis.

About Jushi Holdings Inc.
We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, distressed workouts and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis ecosystem. For more information, visit jushico.com or BEYOND / HELLO™ on Instagram and Facebook.

Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current conditions but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, involve estimates, projections, plans, goals, forecasts, and assumptions that may prove to be inaccurate. As a result, actual results could differ materially from those expressed by such forward-looking statements and such statements should not be relied upon. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases or may contain statements that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “will continue,” “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include but are not limited to, information concerning the expectations regarding Jushi, or the ability of Jushi to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has certain expectations and has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward- looking information and statements are the following: the ability of Jushi to successfully and/or timely achieve business objectives, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation, as well as other risks and uncertainties which are more fully described in the Company’s Management, Discussion and Analysis for the three months ended September 30, 2021, and other filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

For further information, please contact:

Investor Relations Contact:
Michael Perlman
Executive Vice President of Investor Relations
561-281-0247
Investors@jushico.com

Media Contact:
Ellen Mellody
570-209-29 47
ellen@mattio.com

 

FAQ

What percentage of cannabis consumers plan to use cannabis during holiday celebrations in 2021?

91% of cannabis consumers plan to use cannabis as part of their holiday celebrations in 2021.

How many respondents plan to give cannabis as gifts this holiday season?

76% of respondents plan to give cannabis or related products as gifts during the holiday season.

What is the spending range reported by cannabis consumers in the Jushi poll?

27% of respondents reported spending between $100 to $150 on cannabis per month.

What cannabis products are most popular among consumers according to the Jushi poll?

Flower and pre-rolls are the most popular cannabis products, followed by edibles and vapes.

What are the main factors influencing cannabis product selection?

THC level (50%) and price (49%) are the top factors influencing cannabis product selection.