Oasis Intelligence Launches With Cannabis, Hemp Consumer Study

Oasis Intelligence, a new cannabis and hemp consumer data and insights company, has launched with a study highlighting consumer trends. The Oasis Cannabis and Hemp Tracking Study is the largest state-by-state proprietary survey of consumer attitudes across North America, the company reports. Oasis Intelligence’s co-founders Laura Albers and Ben Woo are veterans of the advertising, strategy consulting and cannabis industries.

The cannabis industry is poised for more growth in 2020, with Illinois notably being the tenth state to allow for adult-use recreational cannabis and racking up $10.8 million in sales over the first five days. Simple access to cannabis is the initial driver of sales. But brands are largely flying blind when it comes to understanding where the market is going next and what consumers really want, how they want it, and why.

Oasis Intelligence’s Oasis Cannabis and Hemp Tracking Study consists of over 20,000 current users and prospective users across all demographics, recruited from across every state in the US and Washington DC.

“Building a successful cannabis and hemp brand in 2020 and beyond requires creating products and education that truly put the consumer’s wants and needs first,” said Albers.

The consumer study shares three key insights from the company’s initial findings covering Q4 2019.

Pain-Centric Consumers Are More Likely to Be Interested in Cannabis/Hemp

The Stats:

• 77% of those concerned with either chronic or acute pain in their lives agree that there are many benefits they can get from Hemp CBD when it comes to seeking relief, a significantly higher number than the 61% who reported not being concerned about pain.
• 43% of those concerned with pain are more than twice as interested in trying a Cannabis or Hemp product if it was connected to a medical benefit.

The Insights: Despite the opportunity that pain-centric consumers present, brands are very restricted when it comes to making medical claims for their products. This opens up opportunities for utilizing testimonials to help strengthen a brand or product positioning.

Residents in Unregulated States More In Tune With Hemp CBD Than Residents in Regulated States

The Stats:

• 72% of those living in unregulated market states note the growing importance of Hemp CBD in society vs. 66% of those in regulated (recreational + medical) states.
• Interestingly, in those same unregulated states, only 57% agree that Cannabis is growing in importance in society.

The Insights: This perhaps counter-intuitive disparity is likely due to the fact there hasn’t been a medical or recreational cannabis legality wave in their home state, making it a less visible issue. The Hemp Bill of 2018 opened up new opportunities resulting in more Hemp businesses growing and therefore increasing broader awareness. We are watching this trend to see if and how it’s paving a path for Cannabis acceptance.

Personal Network Is Crucial to Converting Prospective Cannabis/Hemp Consumers Into Active Users

The Stats:

• Those who use Cannabis or Hemp are significantly more likely to know others who use the plant versus prospective users.
  • 74% of users versus 47% of prospective users know others using Cannabis products.
  • 53% of users vs 33% of prospective users know others using Hemp products.
  • 40% of both agree their friends are their go-to source for information about cannabis or hemp.
• Lack of understanding keeps prospective cannabis consumers on the sidelines.
  • They are 4 times more likely than current users to cite not knowing enough about a product as a reason not to try it.

The Insights: These points demonstrate both the importance of education and how one’s personal network informs and builds more comfort in trying new products. To convert those interested in Cannabis/Hemp into active consumers, companies should strategically activate social networks and focus on educational efforts.

Laura Albers’ experience is rooted in her time with McCann New York, TBWAChiat Day, RedSky Strategy and the experiential Cannaboss Circle and as co-founder of Cannabis research and manufacturing symposium Microscopes & Machines. Ben Woo hails from Monitor Deloitte, TBWAChiat Day, and RedSky Strategy, having worked on many health & wellness, beauty, CPG, and cannabis brands to date.

For those looking to reduce risk, optimize ROI and drive growth, Oasis Intelligence has a range of solutions, from custom reports and research to white papers and subscriptions to the interactive online dashboard coming later in 2020.