Celebrity Power Meets Moderate Consumption: Cannabis Market Trends In 2023

As the cannabis industry continues to grow, both in terms of legalization and consumer interest, the dynamics of cannabis branding and consumption are undergoing fascinating transformations.

From the rise of celebrity-backed marijuana brands to the influence of medium-frequency consumers, the market is witnessing exciting developments that shape the future of the industry.

Cann, Houseplant and Mirayo by Santana Lead the Sales Charts

In California, celebrity-endorsed brands like Cann, Houseplant and Mirayo by Santana are making waves with their impressive sales figures, outperforming traditional brands.

Leveraging the power of their fame, social media presence and strong fan bases, these celebrities draw consumers and create engaging experiences through events and promotions.

They're often able to charge lower prices, therefore attracting even more attention in the competitive market.

Medium-Frequency Cannabis Consumers Drive Industry Innovation

Simultaneously, medium-frequency cannabis consumers are gaining influence and shaping the industry's direction.

Market segments such as the Modern Medicinals and Engaged Explorers, who prefer wellness-based and non-smokable delivery methods are witnessing significant growth according to New Frontier Data.

Their reliance on regulated sources such as dispensaries and delivery services showcases their interest in high-quality products. This trend is pushing the market to develop novel cannabis delivery methods and wellness-focused offerings.

Learn more about the cannabis economy, regulations, and supply chain, at the upcoming Benzinga Cannabis Capital Conference in Chicago on September 27 and 28. Do not miss the opportunity to attend the #1 event for cannabis investors where DEALS GET DONE.  

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Photo by Stephen Dawson on Unsplash.