Team Headset March 17, 2020
Today we're revisiting the category-level response to COVID-19 in our US Markets.
As COVID-19 continues to spread across the world, affecting businesses along the way, we are all watching for information on how this pandemic will impact our organizations. At Headset our mission is to help cannabis operators succeed through data, and we are in a unique position to share as much information as possible to all of the frontline operators in our industry as soon as we uncover it on a daily basis. Please be well and stay safe - the entire Headset staff.
April 30, 2020 2:00pm Today, we will be reviewing cannabis sales by generation in the state of Washington, focusing specifically on Gen Z customers. Stepping back for a moment, if we look at sales share by generation during the COVID crisis, we see that Millennials make up between 53% - 55% of total cannabis sales in WA on average, making them the highest spending generation. Since the week of March 16th, we see the sales share for Millennials has remained more or less flat while sales shares from Gen X, Baby Boomers, and the Silent Generation customers have declined slightly. The only group with a noticeable sales share increase has been Gen Z, growing by an average of 3.66% WoW over the trailing five weeks. This growth begs the question, if Gen Z customers are growing their share of sales, what are they buying?
It is no surprise to see that the vast majority of spend from Gen Z customers in WA goes to inhalable such as Flower, Vapor Pens, Concentrates, and Pre-Rolls. While the aforementioned categories have remained flat in terms of sales share growth, we do see that the advent of COVID has encouraged Gen Z customers to break out of their typical inhalable categories and into non-inhalable, such as Beverages, Tinctures, and Topicals. For example, over the past five weeks WoW Beverage sales share growth came in at 13.9%.