The Growing Acceptance For The Cannabis Industry

Cannabis Is Like An Old Painting

painting cannabis influencer

We can see the cannabis industry is a place of taboos, gateways, or elicitations as well as a market where ROIs have a potential of reaching a 35-40% return in the following year.

The question we should ask ourselves is how do we interpret these customer attitudes in the somewhat cannabis free market? Here are some bullet points to help answer that question.

Kendra Cherry wrote an article titled “Attitudes and Behavior in Psychology” where she breaks down the components of cognitive, affective, and behavior. How those components can change a person’s attitudes during their lifetime. Applying her rules, a person could say “I tried cannabis and it gave me a headache” which jumps to “cannabis…not in my backyard”. On the same token, her peers could advise her to ingest CBD products because its socially acceptable. 

Fortunebusinessinsights.com reports global cannabis market size was 20.47 billion in 2020 and expected to grow to 197.74 billion in 2028. Is it safe to say attitudes are changing? Trending indicates the value of THC and CBD have increased.

Adapting Consumers Perception About Cannabis

Understanding certain behaviors can best be illustrated by observing…ants. Ants like to forage, prey, and scavenge and generally like to do it outdoors. However, if it’s cold and rainy outside, they normally tend to do those things in your home where its nice and cozy – and eat your food. They are adaptable.

Ants do not have attitudes or at least how we perceive them to be. Unlike ants, as humans we cause a tirade if someone gives a thumbs down on social media. 

Consumers adapt to certain lifestyle changes that effect their daily lives. What does this have to do with cannabis? Everything since the industry is not just about smoking and vaping. Consumers are adapting to the massive industry of what cannabis has to offer. Consumers love eating drinking – and now we have THC infused gummies and CBD infused drinks.

cannabis product compliance

What behaviors will impact the cannabis industry in the next 5 years? CBD infused bed sheets. Don’t laugh they exist. Columbia University Irving Medical Center published an article about the change in behavior. Dr. Donald Edmondson explains that changing behavior is hard. Whil acknowledges there are better methods to sticking to those changes.

Are you going to successfully change a person’s mindset on CBD when he has been taking aspirin his entire life? Probably not but perception of cannabis may change after constance influence.

Adapting Consumers Perception About Cannabis

Marijuana Moment published an article labeling states that have legalized cannabis have collected more than $10 billion in cannabis tax revenue. Conversely (before the approval of Proposition 64 in 2016) in July 2010 Rand.org published an article about the cost of marijuana prohibition in California citing $1.87 billion for estimated dollar value of criminal justice resources currently being spent enforcing laws against marijuana production.

Ultimately the research indicates that two-thirds of Americans support the legalization of cannabis as published by Pew Research Center and that opposition for legalization has fallen from 52% back in 2010 to 32% in 2019. The cannabis “tug of war” is the decision to remove cannabis from the Schedule 1 of the Controlled Substances Act.  Is this a change in attitude?

We have skimmed the surface on customers attitude on cannabis however needs much attention in this industry if THE industry wants to survive (legally). Embracing the convoluted argument is no less than seeing the ultimate goal of a free cannabis market in the United States.