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Consumers Primed to Spend on Cannabis, New Poll Finds

News provided by news direct2024-11-19

--News Direct--

A majority of frequent cannabis consumers say their spending on cannabis has gone up during the past year, and a plurality say they expect it to continue to rise over the next year, according to a new consumer poll released today by NuggMD.

The poll shows 61% of respondents report spending “more” or “much more” on cannabis over the past year. Forty-five percent said they expect their spending on cannabis products to continue to rise over the next year, while just 25% signaled an intention to reduce their spending. The poll was first reported by Marijuana Moment.

Q: "How does your spending on cannabis now compare to a year ago?"
	n:	%
I spend much more on cannabis now	121	44%
I spend more on cannabis now	46	17%
I spend about the same now as I did a year ago	45	16%
I spend less on cannabis now	34	12%
I spend much less on cannabis now	27	10%
	273

Q: "Over the next year, how do you anticipate your spending on cannabis will change?"
	n:	%
Spend much more	73	18%
Spend a bit more	111	27%
No change	126	31%
Spend a bit less	68	17%
Spend much less	33	8%
	411

“While our poll is a far cry from cash on hand for cannabis retailers and cultivators, it shows that demand is strong and is likely to become stronger in the near term,” said Andrew Graham, head of communications at NuggMD. “This data says that the demand side of the market is durable and highly resilient. Cannabis might be among the most recession-proof consumer products, because most cannabis use is rooted in wellness, not indulgence.”

Methodology

The two polls were conducted from Oct. 10 to Oct. 13 and Oct. 17 to Oct. 20 and have a margin of error of 5.9% and 4.8%, respectively.

NuggMD regularly conducts polls and market research on cannabis using a sample of nearly 1.2m frequent cannabis consumers who live in state-legal markets. The company’s polling capabilities are derived from first-party data it has collected and used since launching in 2015.

About NuggMD

NuggMD is the nation’s leading medical marijuana technology platform, serving patients in Arizona, California, Connecticut, Delaware, Florida, Georgia, Illinois, Iowa, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Texas, Vermont, Virginia, Washington, and West Virginia. They’ve connected over 2,000,000 patients face-to-face with their new medical marijuana doctors via their state-of-the-art telemedicine platform. They believe every human being has the right to explore the potential benefits of medical cannabis and are fully committed to helping each patient explore every option in their journey to wellness. For further information, visit https://www.nuggmd.com.