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May 18, 2020CBD Archetypes Illustrate Nuances Between CBD consumers and Potential Customers
May 23, 2020
New Study from New Frontier Data Reveals U.S. CBD Consumer Archetypes
WASHINGTON (May 19, 2020) – (BUSINESS WIRE) – New Frontier Data, the global authority in data, analytics and business intelligence on the cannabis industry, in partnership with payments innovator Square, releases the first volume of its newest CBD series, U.S. CBD Consumer Report: Archetypes and Preferences. Based on the largest U.S. CBD consumer survey to date, this first-of-its-kind report analyzes and outlines nine unique consumer and non-consumer archetypes.
“Our research shows that 1 in 5 Americans have used CBD, which demonstrates a major jump in consumer interest in the sector,” said New Frontier Data Founder & CEO Giadha Aguirre de Carcer. “While this phenomena is taking root across many other regions such as Europe and Latin America, the United States continues to represent the largest CBD market; understanding its CBD consumers is therefore a priority for enterprises within both the legal cannabis industry and a multitude of mature sectors such as Food & Beverage or Health & Beauty.”
Key findings from the report include:
- CBD purchasers aged 35-54 are most likely (21%) of any group to spend over $100 per month on CBD.
- 29% of Americans reported being likely to purchase CBD in the following six months.
- 18% of Americans have tried CBD and 86% of Americans know of CBD.
- 40% of CBD consumers report using CBD at least once a week.
- 60% of American CBD consumers report using CBD for some form of unwinding (e.g., relaxation, relieving stress or anxiety reduction).
The U.S. CBD Consumer Report: Archetypes and Preferences, Vol. 1, executive summary is now available for free download on New Frontier Data’s website, and the full report via New Frontier Data’s cannabis business intelligence platform, Equio.
About New Frontier Data:
New Frontier Data is an independent, technology-driven analytics company specializing in the global cannabis industry. It offers vetted data, actionable business intelligence and risk management solutions for investors, operators, researchers and policy makers interested in the cannabis space worldwide. New Frontier Data’s reports and data have been cited in over 80 countries and drive over 15 billion in media reach across the world. Founded in 2014, New Frontier Data is headquartered in Washington, D.C., with additional offices in Denver, CO and London, UK.
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry worldwide. For more information about New Frontier Data, please visit: https://www.NewFrontierData.com.
About Square:
Square, Inc. (NYSE: SQ) revolutionized payments in 2009 with Square Reader, making it possible for anyone to accept card payments using a smartphone or tablet. Today, we build tools to empower businesses and individuals to participate in the economy. Sellers use Square to reach buyers online and in-person, manage their business, and access financing. And individuals use Cash App to spend, send, store, and invest money. Square has offices in the United States, Canada, Japan, Australia, Ireland, and the UK.
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