EQS-News

Consumers Are Demanding More From Cannabis Companies — Here’s What Some Are Looking For

EQS-News: LiveWire Ergogenics, Inc. Consumers Are Demanding More From Cannabis Companies — Here’s What Some Are Looking For 19.10.2022 / 15:24 CET/CEST The issuer is solely responsible for the content of this announcement. The cannabis industry has undergone drastic changes in recent years, and as marijuana becomes more mainstream, consumers are demanding more from cannabis companies. No longer are the days when consumers will settle for a plastic zip lock bag of questionable quality and purity underground weed — they want choices that reflect their lifestyle and values.

Many consumers report that they want a high-quality lifestyle brand and one of the things they are looking for is an organic, hand-cut, pesticide-free, and easy-to-consume cannabis product. Companies that embody these values will be better positioned to become the go-to products for more consumers.

Why Do Consumers Want Lifestyle Brands?

A growing percentage of consumers care more about the quality and sustainability of the brands they engage with. In a recent survey by Stifel and Morning Consult, more than half of the survey’s respondents shared they had bought from a new brand specifically for its transparent, environmentally responsive, and sustainable practice.

When it comes to the cannabis industry, there is a preference for hand-trimmed and hand-grown cannabis. Colloquially known as craft cannabis, companies willing to prioritize hand-trimmed cannabis grown without pesticides and machines will have an easier task of creating high-end products that consumers flock to.

Cannabis companies would be wise to look to the lifestyle brand journey of other consumer packaged goods (CPG). Researchers see lots of comparisons between the growth of lifestyle brands in high-end coffee companies and the cannabis industry. Similarly to how high-end coffee consumers are more loyal to brands that boost sustainable heritage, product origins, ethical sourcing, and roasts, a growing number of cannabis consumers are following suit. California is in the process of implementing a product origin program similar to the California wine industry for cannabis.