IRI Releases Findings of New Cannabis Attitude and Usage Study

IRI^®, a global leader in innovative solutions and services
for consumer, retail and media companies, today released findings of a
new study focused on understanding the attitudes and usage motivations
of legal adult cannabis users, and the projected impact of further
legalization on consumer product purchase habits.

“The expanding legalization of cannabis products is already a disruptive
force in the CPG industry,” said Robert I. Tomei, president of Market
and Shopper Intelligence for IRI. “IRI’s consumer and shopper insights
into the impact of cannabis on purchase motivations and behaviors
provide critical opportunities for brands to understand the substitution
effects and innovation opportunities created by this category-defying
ingredient.”

The study, conducted in collaboration with MFour, a leader in mobile
market research, surveyed recent purchasers of cannabis products to
drive purchase-based insights, as well as a broader general population
panel representing all markets to understand projected impacts of legal
marijuana and CBD. Key findings of the study included:

• Cannabis consumers defy stereotypes. Recent purchasers of
  cannabis in markets where adult use is legal span generations, gender
  and socioeconomic backgrounds. Beyond demographics, consumers also
  seek a diverse array of benefits from their purchase.
• Motivations vary by product type. Legal marijuana purchasers
  reported that relaxation was their primary motivation for using
  cannabis, while CBD purchasers were more likely to cite medical
  symptom treatment as a motivator.
• Cannabis products replace consumers’ purchases of OTC medication.
  Over 45 percent of legal marijuana and CBD consumers reported that
  dispensary purchases in legal markets replace their purchases of
  over-the-counter medication.
• Legalization creates opportunities — especially in snacking.
  Study participants in legal and non-legal markets expect that they are
  most likely to increase their purchases of baked goods, candy, salty
  snacks and gum as a result of the legalization of cannabis products.

“Findings like these illuminate the risks and opportunities created by
the introduction of cannabis products to more consumers,” said Carl
Edstrom, senior vice president and principal of survey solutions for
IRI. “While over-the-counter medication brands risk losing market share
as a result of broader usage, there are opportunities for brands to
leverage the broad appeal of the legal cannabis attribute and
incorporate cannabis ingredients into new OTC medication, and certain
food products to capture greater value.”

To learn more about the findings of IRI’s Cannabis Attitude and Usage
Study and how the broader legalization of cannabis products impacts your
business’ category or brand, contact Carl Edstrom at [email protected].

About the IRI Partner Ecosystem

IRI fundamentally believes that delivering differentiated growth for
clients requires deep, highly integrated partnering with a variety of
best-of-breed companies. As such, IRI works closely with a broad range
of industry leaders across multiple industries and sectors to create
innovative joint solutions, services and access to capabilities to help
its clients more effectively collaborate and compete in their various
markets and exceed their growth objectives. IRI is committed to its
partnership philosophy and continues to actively enhance its open
ecosystem of partners through alliances, joint ventures, acquisitions
and affiliations. The IRI Partner Ecosystem includes such leading
companies as 84.51°, Adobe, The Boston Consulting Group, Clavis
Insights, comScore, Data Plus Math, Edison, Experian, GfK, Gigwalk,
Google, Ipsos, Jumpshot, Mastercard Advisors, MaxPoint, MFour, Omnicom,
One Click Retail, Oracle, Pinterest, Research Now/SSI, Simulmedia,
SPINS, Univision, Viant and others.

About IRI

IRI is a leading provider of big data, predictive analytics and
forward-looking insights that help CPG, OTC health care organizations,
retailers, financial services and media companies grow their businesses.
A confluence of major external events — a change in consumer buying
habits, big data coming into its own, advanced analytics and
personalized consumer activation — is leading to a seismic shift in
drivers of success in all industries. With the largest repository of
purchase, media, social, causal and loyalty data, all integrated on an
on-demand, cloud-based technology platform, IRI is empowering the
personalization revolution, helping to guide its more than 5,000 clients
around the world in their quests to remain relentlessly relevant,
capture market share, connect with consumers, collaborate with key
constituents and deliver market-leading growth. For more information,
visit www.iriworldwide.com.

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