How much do you spend on cannabis? And how does that stack up to other consumers? Two recent studies looked at how much cannabis consumers earn and how much they spend – and on what.
The Cannabis Consumers Coalition (CCC) found that, contrary to what many may believe, only 20% of cannabis consumers live in “low-income” households. 35% live in households that earn between $26,000 and $55,000, and 27% of cannabis consumers live in households with combined incomes over $75,000. Perhaps most interestingly, the CCC found that the average cannabis consumer spends $600 on cannabis annually. Given the fact that a 2016 Gallup poll reported that 13% of the U.S. population say they currently consume cannabis, the potential customer base (were cannabis legalized nationwide) is 41 million. At $600 a person, that’s potentially $24 billion in annual cannabis sales. At the typical 20% tax rate, that means a tax revenue for the government of nearly $5 billion. That’s why industry leaders are confident that the legalization trend isn’t likely to reverse itself. Money, as they say, speaks volumes.
Another 2016 study, from the “cannabis intelligence company” Headset, drilled down deeper into the consumer profile. They found that, “most people spend between $25 and $50 per trip to a marijuana store, with a $33 median spend per trip. A third of all customers only stopped into the dispensary to buy one item like a pre-rolled joint or a beverage and spent less than $10.”
How do your cannabis spending habits compare to those of others? Whether you’re an occasional shopper, a frequent visitor, or a high roller, you’re welcome at The Green Solution®. Our staff will always be happy to see you, no matter how much – or how little – you purchase.