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: “The [financial] industry has been slow to adapt to the ways in which young people want to be communicated with and to communicate with each other.”—Ian Rosen, CEO, StockTwits (YPulse)

Instagram users can now purchase products without leaving the app. The platform’s shopping tags are evolving to allow users to check out directly inside the app from about 20 retailers using saved payment and shipping information. The move doesn’t just give Facebook a direct cut of each sale, but also allows the platform to collect data that they’ll leverage in their ad targeting. Instagram’s influence over young consumers’ purchases continues to skyrocket, and according to our Shoppability trend, 72% of Gen Z & Millennials are open to buying products on social media. (Recode)

Disney and MAC Cosmetics are debuting a nostalgic makeup line for Aladdin fans. The Disney Aladdin collection features lipstick, an eyeshadow palette, and bronzer in jewel and metallic hues that Princess Jasmine might wear with her bright turquoise outfit. The partnership is part of the lead-up to the live-action Aladdin’s debut, and isn’t MAC’s first time introducing fans to whole new worlds of Disney-themed cosmetics. In the past, they’ve also released Cinderella and Disney villains-themed lines. (Teen Vogue)

Google announced their ambitious plan to become “the future of gaming:” a cloud-based streaming service called Stadia. Gamers will be able to play across device (phones, TVs, tablets, etc.) without waiting for the title to load in a YouTube-connected setting. That means viewers can instantly play titles featured in videos and stream their own gameplay to YouTube—which could challenge industry leader, Amazon-owned Twitch. The Netflix-like service is set to launch this year. (The Verge)

Instagrammable dim sum is going global. The craze stared in Hong Kong, where Social Places serves up bao made to look like tiny pigs and charcoal custard bao filled with “a thick liquid that oozes out like lava,” introducing three or four new incarnations each month to keep customers coming back. Meanwhile at Disneyland Hong Kong, Crystal Lotus customers dine on buns that look like their favorite animated characters, including Frozen's Olaf. In the U.S., San Francisco’s Chili House and New York’s RedFarm are some of the first to take on the trend. (Bloomberg)

Netflix’s next choose-your-own-adventure series lets viewers chart Bear Grylls’ journey through the wilderness. Soon, Netflix viewers will have the chance to become outdoors experts from the comfort of their couches, as they make the survival show celebrity’s choices as he traverses tricky situations. Grylls himself says that he’s “giving viewers an all-access pass to explore the world and its landscapes in my boots” and that “For the first time, my survival is in your hands.” (THR)

Quote of the Day: “One of the biggest myths about Millennials is that they do not want to engage with human beings, especially if a chatbot, app, or a website can be deployed.”—Xiomara Lorenzo, Director, Society of Grownups (YPulse)

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