All though the cannabis industry can be a polarizing topic, there is no denying that the industry economics mirror general retail’s chain of manufacturing, distribution and brick ‘n mortar. At the forefront, consumers drive the demand for product and services. Consumers have many choices and as the cannabis industry continues to evolve its important retail-dispensaries can quantify their target audiences consideration and purchase drivers.
Utilizing the Tell consumer panel, Insights Lab surveyed consumers age 21+ across California, Colorado, Nevada, Oregon, and Washington to measure 13 Key Buying Factors for selecting and legally purchasing from medical and recreational dispensaries. Based on the research, “Quality of Products” was cited as very or somewhat important by 96% of respondents, which was also the factor chosen as the #1 most important by consumers. “Knowledge and Friendly Staff” closely followed cited the second most often as being #1 most important buying factor.
For an industry that provides medical and recreational products for ingestion and topical use, it is clear consumers are demanding of high-quality products and desire a welcoming and informative shopping experience. Strategically positioning and delivering on the top key factors will drive an experience that earns customer trust and loyalty while differentiating your brand in the marketplace.
About Insights Lab: We focus on delivering world class customer analytics, consumer insights and data science for various consumer facing categories such as retail, home services, eCommerce, and cannabis. The Tell Panel is Insights Lab’s proprietary panel community geared toward understanding various consumer trends, attitudes, and behaviors. To learn more please contact us.
By David Lerchbacher, Principal and Founder
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