Advertisement

Topics

Why Women, the Fastest Growing Consumers of Cannabis, are the Demographic to Watch -- CFN Media

20:00 EDT 16 Apr 2019 | Globe Newswire

SEATTLE, April 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article discussing why women are the fastest growing demographic to watch.

Although women control around $30 trillion in annual spending, the majority of companies often ignore this powerhouse of a demographic. Millennial women in particular tend to enjoy an above-average household income, and have been estimated to represent a $170 billion dollar market.

Despite being a newer industry with a keen ability to identify exciting new channels, the majority of cannabis companies have yet to fully capitalize on this demographic. But with studies suggesting that women have surpassed men in their consumption of cannabis, this category of consumers is a key one to target.

Health and Wellness Matters to Women

The Global Wellness Institute estimated that in 2018 the global wellness market was worth $4.2 trillion and continues to grow steadily, while women currently control about 85 percent of it. The Cannabis Consumers Coalition (CCC) reported that women now use cannabis more than men, with 53 percent having tried it compared to just 42 percent of men, and 6 percent of female respondents said they have used cannabis on a daily basis.

Some analysts have linked this trend of women being the fastest growing segment of cannabis users with the influx of CBD infused wellness products.

New Links Between Cannabis and Wellness

Before the 2018 Farm Bill, hemp (defined as cannabis with less than 0.3% THC) was still illegal in the US - the only industrialised nation to still consider it no different than cannabis. Since then, hemp has become a key player within the health and beauty industry.

Alternatives to Flower

The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (Frankfurt: YG3) is one company which has seen this opportunity and taken great strides to value and cater to their female customer base. Its directors and officers have experience working with female-focused, multi-billion dollar companies such as M.A.C. Cosmetics and Aritzia, which gives it a business model that is well-versed in catering to an underrepresented female market.

The hemp industry exceeded $1 billion in revenue last year, according to Hemp Business Journal, with personal care items generating nearly $200 million. Yield Growth’s subsidiary, Urban Juve, has already launched over ten hemp-based skincare products, and hopes to launch 30 more products by the summer. With Lucintel’s prediction that the global skincare market is projected to reach $135 billion by 2021, the Yield Growth Corp. has positioned itself to be at the forefront of this exciting new sector of the cannabis industry.

Please click here to receive an investor presentation and corporate updates on BOSS

Women’s Spending Habits

While there are many things which influence the spending habits of women, the study by Merkle and Levo found that a brand’s story has a huge impact on which companies women align themselves with, with an impressive 47 percent of respondent’s claiming to know the origin story of their favorite brands.

Gabriella’s Kitchen (CSE: GABY) (OTC: GABLF) is one company which has founded every aspect of its brand in its roots. GABY was created by Italian sisters Gabriella and Margot. Their desire to create a wellness company came after Gabriella was diagnosed with stage 4 lung cancer. This news spurred the pair on to find ways to prolong Gabriella’s life using a holistic approach. Although Gabriella passed away from the illness, her approach to wellness and food allowed her to live exponentially longer than doctors predicted.

Her passion gave a true purpose to the company. GABY recently acquired Sonoma Pacific, a prominent California distributor with recognized and successful brands sold throughout the state’s dispensaries. This acquisition, together with GABY’s mainstream retail presence, has strengthened GABY’s position and enabled its mission to be accessed by more consumers than ever before. Gaby’s mainstream retail outlets jumped from 200 to an impressive 3400 and its distribution in the cannabis channel through its recent purchase of Sonoma Pacific Distribution grew to 80 dispensaries. Further, Sonoma Pacific estimated its Q1 revenue would reach over $8 million dollars, a staggering 1200 percent increase from the same quarter last year and a significant boost to GABY’s financial outlook.

Please click here to receive an investor presentation and corporate updates on GABY

The cannabis industry is still a very fresh one, but as it grows and matures, companies like The Yield Growth Corp. (CSE. BOSS) and Gabriella’s Kitchen (CSE: GABY) who create products and brands with women in mind will have put themselves in a good position to move ahead of the competition. Women do represent a very strong demographic within this industry, and they will align themselves with those companies who treat them as such.

Disclaimer

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

Please follow the link to read the full article on CFN:

https://www.cannabisfn.com/why-women-the-fastest-growing-consumers-of-cannabis-are-the-demographic-to-watch/

About CFN Media

CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: 
https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

Frank Lane
206-369-7050
Flane@cannabisfn.com

cfn_tweakedspacing.jpg

NEXT ARTICLE

More From BioPortfolio on "Why Women, the Fastest Growing Consumers of Cannabis, are the Demographic to Watch -- CFN Media"

Advertisement
Quick Search
Advertisement
Advertisement

 

Relevant Topics

Women's Health
Women's Health - key topics include breast cancer, pregnancy, menopause, stroke Follow and track Women's Health News on BioPortfolio: Women's Health News RSS Women'...

The Top 100 Pharmaceutical Companies
Top 10 biotech and pharmaceutical companies worldwide based on market value in 2015 2015 ranking of the global top 10 biotech and pharmaceutical companies based on revenue (in billion U.S. dollars) Johnson & Johnson, U.S. 74...

Cancer
  Bladder Cancer Brain Cancer Breast Cancer Cancer Cervical Cancer Colorectal Head & Neck Cancers Hodgkin Lymphoma Leukemia Lung Cancer Melanoma Myeloma Ovarian Cancer Pancreatic Cancer ...