The first step in any successful marijuana business plan is knowing your audience. For marijuana entrepreneurs, that means paying careful attention to the fact that not only are one-third of U.S. adults over 21 interested in trying legal cannabis, but also understanding why.
The answer may surprise some folks: It’s not to get high, but for medicinal reasons.
Studying Cannabis Consumer Motivation
A recent survey conducted by market analysts at Nielsen reveals those interested in trying cannabis wanted to do so for wellness-related reasons, often for treatment of pain. The breakdown for motivation is as follows:
- To ease chronic pain (migraines, arthritis, neck & back pain, menstrual cramps) – 85 percent
- Improve mental health state – 82 percent
- Treatment of minor injuries – 82 percent
- Use as a sleep aid – 77 percent
- Relaxation – 74 percent
Treatment of a non-pain-related medical condition or disease, overall improvement of public health and enjoyment with family and and friends were other reasons noted. Continue reading