Key Highlights
- The global cannabis market is projected to reach $75.8 billion by 2024
- In 2023, approximately 65% of consumers in legal cannabis markets discovered new brands online
- 80% of cannabis consumers use social media to learn about new products
- The average age of cannabis consumers is 31 years old
- 70% of cannabis businesses invest in digital marketing campaigns
- 55% of cannabis consumers prefer purchasing products from brands that actively participate in social media
- The cannabis industry’s advertising spend is expected to grow at a CAGR of 24.1% through 2027
- 62% of consumers research product reviews online before buying cannabis products
- 45% of cannabis brands leverage influencer marketing to reach their audience
- Email marketing open rates in cannabis industry average around 22%
- 38% of cannabis consumers subscribe to brand newsletters for promotions and updates
- 48% of cannabis companies report increased sales directly attributable to social media campaigns
- Display advertising accounts for 33% of digital marketing spend in the cannabis industry
As the cannabis industry prepares for a market value projected to hit $75.8 billion by 2024, savvy brands are leveraging social media, influencer partnerships, and digital marketing strategies—accounting for over 70% of marketing investments—to capture the increasingly online-savvy, millennial, and Gen Z consumers driving this explosive growth.
Consumer Behavior and Demographics
- In 2023, approximately 65% of consumers in legal cannabis markets discovered new brands online
- 80% of cannabis consumers use social media to learn about new products
- The average age of cannabis consumers is 31 years old
- 62% of consumers research product reviews online before buying cannabis products
- 38% of cannabis consumers subscribe to brand newsletters for promotions and updates
- 85% of cannabis online transactions are completed on mobile devices
- 72% of cannabis brands target Gen Z and Millennials through digital platforms
- 30% of cannabis consumers discover new brands via online reviews
- 77% of consumers are more likely to buy from brands they follow on social media
- 45% of cannabis consumers research products via company websites before purchasing
- 58% of cannabis consumers prefer buying from brands with a strong online presence
- 60% of consumers follow cannabis brands for loyalty discounts
- Around 50% of cannabis consumers use online chat support when selecting products
- 53% of consumers say detailed product information online influences their purchase decision
Consumer Behavior and Demographics Interpretation
Digital Marketing Strategies and Tools
- 70% of cannabis businesses invest in digital marketing campaigns
- Email marketing open rates in cannabis industry average around 22%
- 48% of cannabis companies report increased sales directly attributable to social media campaigns
- Display advertising accounts for 33% of digital marketing spend in the cannabis industry
- 57% of cannabis dispensaries report that digital tools improved their marketing ROI
- Cannabis consumers spend approximately 20% more when exposed to online ads compared to traditional marketing channels
- 40% of cannabis operators plan to increase their digital marketing budget in the next year
- The average click-through rate for cannabis digital ads is around 1.2%
- 29% of cannabis brands spend less than 10% of their budget on digital marketing
- Approximately 40% of cannabis marketing efforts are focused on educational content
- 61% of cannabis brands utilize SEO strategies to increase online visibility
- 33% of cannabis companies see increasing engagement through TikTok marketing
- 62% of cannabis marketing professionals plan to implement more personalized marketing campaigns
- 70% of cannabis businesses consider digital marketing their primary growth strategy
- 80% of cannabis brands use influencer collaborations to expand reach
Digital Marketing Strategies and Tools Interpretation
Market Growth and Industry Trends
- The global cannabis market is projected to reach $75.8 billion by 2024
- The cannabis industry’s advertising spend is expected to grow at a CAGR of 24.1% through 2027
- The number of cannabis-related search queries increased by 150% from 2019 to 2023
- Video marketing in cannabis industry accounts for 60% of all digital marketing content
- Content marketing strategies result in 3x more leads for cannabis companies
Market Growth and Industry Trends Interpretation
Sales Performance and Consumer Loyalty
- Customer loyalty programs influence 65% of repeat cannabis purchases
Sales Performance and Consumer Loyalty Interpretation
Social Media Engagement and Influencer Impact
- 55% of cannabis consumers prefer purchasing products from brands that actively participate in social media
- 45% of cannabis brands leverage influencer marketing to reach their audience
- 54% of cannabis consumers follow at least one brand on social media
- 55% of cannabis consumers buy products after seeing them in a social media post
- 65% of cannabis companies believe influencer campaigns significantly impact sales
- The number of cannabis-related social media posts increased by 200% between 2020 and 2023
- 43% of cannabis consumers are more likely to purchase from brands recommended by social media influencers
- 47% of cannabis consumers share their purchase experiences on social media
Social Media Engagement and Influencer Impact Interpretation
Sources & References
- Reference 1HEADSETResearch Publication(2024)Visit source
- Reference 2STATISTAResearch Publication(2024)Visit source
- Reference 3ADOBEResearch Publication(2024)Visit source
- Reference 4SEARCHENGINEJOURNALResearch Publication(2024)Visit source
- Reference 5FORBESResearch Publication(2024)Visit source
- Reference 6MARKETINGDIVEResearch Publication(2024)Visit source
- Reference 7SOCIALMEDIAEXPLORERResearch Publication(2024)Visit source
- Reference 8CONTENTMARKETINGINSTITUTEResearch Publication(2024)Visit source
- Reference 9TIKTOKFORBUSINESSResearch Publication(2024)Visit source
- Reference 10ADEXCHANGERResearch Publication(2024)Visit source
- Reference 11REUTERSResearch Publication(2024)Visit source
- Reference 12WORDSTREAMResearch Publication(2024)Visit source
- Reference 13GREENMARKETREPORTResearch Publication(2024)Visit source
- Reference 14ADWEEKResearch Publication(2024)Visit source
- Reference 15MAILCHIMPResearch Publication(2024)Visit source
- Reference 16GOOGLEResearch Publication(2024)Visit source
- Reference 17GRANDVIEWRESEARCHResearch Publication(2024)Visit source
- Reference 18GREENENTREPRENEURResearch Publication(2024)Visit source