3 Unlikely Industries Cashing In On Cannabis

Millennial research, Millennial insight, Millennial marketing, Gen Z research, Gen Z marketing, Gen Z insight, youth research, youth marketing

As weed goes mainstream, brands and products across the spectrum are tapping into the trend to reach young consumers. We’ve highlighted how three industries are getting unexpected weed makeovers...

Since we first wrote about the the burgeoning “marijuanaconomy” a few years ago, the cannabis industry has exploded--and brands are taking the opportunity to ride the weed wave. Recreational marijuana is legal in nine states and Washington D.C., and medical marijuana is legal in 29 states. This year, more states are set to legalize adult-use as public support of the drug soars to record heights—over six in ten Americans now say the use of marijuana should be legalized, according to a Pew Research Center survey, a figure that increases to 70% among Millennials. Young consumers have been leading the charge in the mainstreaming of weed: 52% of the country's 55 million pot users are Millennials.

But we’re not just talking about the illegal stuff. CBD (the non-psychoactive compound in cannabis) and hemp have exploded as trendy ingredients that surprising industries are adding to their products to appeal to young consumers. While it may still be awhile before we see the political overhaul required for national legalization, that’s not stopping brands and products across the spectrum from jumping in on the hype—and targeting young consumers.

Beauty, food and beverage, and wellness are all getting a cannabis infusion with surprising new products and services. Find out which companies are innovating in their respective industries below, and get a glimpse of what’s next:

Millennial research, Millennial insight, Millennial marketing, Gen Z research, Gen Z marketing, Gen Z insight, youth research, youth marketing1. Beauty

Young consumers love a good miracle ingredient when it comes to beauty trends, which set the industry up perfectly for the next wellness phenomenon—cannabis. CBD oil is making its way into makeup, skincare, and even…

 
 

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The Newsfeed

Quote of the Day: “Supernatural is a guilty pleasure show.  While it isn't very consistent in terms of plotline, it’s a fun show with a lovable cast, and it’s ludicrous story keeps you wondering what is next.”—Female, 26, GA

Millennial women are taking over proposing, and looking up ways to pop the question. On Pinterest, “women propose to men ideas” is being searched more than ever, with popularity of the term rising 336% year-over-year. And women aren’t just getting down on one knee to propose to men: the term with the greatest growth from 2017 is “unique lesbian proposals,” which saw a 1,352% rise. Pinterest also found that emerald engagement rings are trending, demonstrating Millennials’ growing interest in non-diamond options. (The Cut)

Dave & Buster’s is positioned to win over experience-loving Millennials. Despite disappointing earnings of late, investors are buying up the experiential restaurant’s stock during its dip because (as one analyst explains) they “believe [Dave & Buster's] can outperform other full-service concepts and drive multiple expansion as it proves itself as a differentiated growth concept.”  Our Experiencification trend backs up their bet, finding that 74% of Gen Z & Millennials would rather spend money on experiences than products. (TheStreet)

Airlines made for Millennials are failing. Air France is thinking about shuttering Joon, their trendy airline, just one year after it took flight. As it turns out, Generation Wanderlust values one thing above amenities like stylish steward outfits and smart tech: value itself. The airlines that are seeing success are budget-friendly first and foremost, like Norwegian Air. ICF Aviation’s SVP sums it up, “What does a [M]illennial want in an airline? A low fare and a good schedule…They don’t want more purple lighting.” (Vox)

Fortnite isn’t just “the most important game of 2018"—it’s “a cultural tsunami.” Nearly 80 million people played the battle royale-style game that’s taking over the internet this year, and over 65% of Fortnite’s players are under-24-years-old. If that’s not enough evidence that brands should cashing in on the craze, celebrities like Drake are playing the game and sports stars like Antoine Griezmann are doing Fortnite’s signature emote dances on the field. (CNET)

Media companies could be under-estimating Nickelodeon’s young fandom. Nielsen reports that two-11-year-olds spent 23 hours each week watching TV in the second quarter of 2018, with almost 15 of those hours taken up by live TV or DVR-recorded content. While Nickelodeon ratings may be down, they’re still the leader of kids’ networks, accounting for 67% of all ad-supported kids’ TV viewing. However, 74% of Millennial parents tell Ypulse that their children watch more content on streaming services than cable. (Bloomberg)

Quote of the Day: “I like playing and talking about [Animal Crossing] with other people. It's nostalgic for me since I've been playing games from the series from a young age.”—Female, 22, PA

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