This article was originally published on The Fresh Toast and appears here with permission.
Unlike alcohol, cannabis has medical benefits….so what is the real reason people are buying marijuana?
Marijuana has become mainstream, but the old stigma still sticks around for a few people…mainly Congressmen. With 23 states legal and 40 medical, a majority have moved passed stigma and mainstream companies are starting to embrace it. From Constellation to 7-Eleven, they see it as another consumer product. All major mainstream medical groups acknowledge cannabis’s medical benefits, allowing it to be used by patients. So what is the real reason people buy marijuana?
Some states start with medical marijuana where people have to have a reason to purchase and usually a card and validation system. When medical states go full recreational, there are some changes in buying habits. We know more people purchase, but why?
BDSA, one of the nation’s leading cannabis data firms shared some exclusive information. Patients who use it for medical reasons can experience changes when a state goes fully recreational, such as changes to excise and sales tax rates and regulations on edible form factors and potency. For those who use it as a “quality of life” issue, say for anxiety, etc., these changes are usually less impactful, and “quality of life” consumers usually stand to benefit from increased retail availability and lower average retail prices that have historically followed recreational legalization.
Which of the following best describes your use of cannabis? | |||
Adult-Use States | Medical Only States | ||
Recreational & Social | 75% | 71% | |
Health or Medical | 56% | 61% | |
Quality of Life | 44% | 44% |
“Cannabis offers medical benefits that are increasingly recognized by mainstream society,” said Brendan-Mitchel Chesebro, BDSA analyst. “While some old stigmas persist, the majority of states have embraced its use, and both consumer participation and support for legalization by non-consumers continue to rise. People are purchasing marijuana for a variety of reasons, from health to social enjoyment.”
The major reason is for fun and enjoyment. Alcohol and food fall into the same category. But unlike alcohol, consumers also see a medical reason to engage with cannabis whether overcoming shyness, reducing anxiety or trying to manage PTSD.
Behind only tobacco use and obesity, alcohol use is the third most common lifestyle-related cause of death in the United States. People drink alcohol because of its ability to alter emotional states. Alcohol induces euphoria, relaxation, and disinhibition while reducing stress and anxiety. Of course, alcohol can make a person aggressive and belligerent. And data has shown it doesn’t provide any medical benefit.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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