21 Mar CBD & Millennials – A Look at the Data
CBD and millennials has been a hot topic lately. Millennials influence several industries and trends. Recently, this demographic has sought more naturally-derived products to help ease stress and improve their overall wellness. This is why some are giving CBD more attention. Is there a connection between CBD and millennials? We’ll take a look at what the numbers say.
Bradford Shellhammer of eBay said, “With the ubiquity of mobile devices, millennials are taking deliberate steps to occasionally disconnect, or prioritize wellness. I think we’ll continue to see millennials strike a balance between using technology to make their lives more fulfilling and convenient and making a conscious decision to unplug in favor of real-world experiences.”
The Millennial Effect
What is the “millennial effect”? Millennials are people of action and multitasking. It seems that their brains are “always on”, meaning there is always something going on. Millennials are attracted to being in-the-know, using digital devices and using convenience services. This generation simplifies life, stays busy and has the attitude that they can do anything. Some call this generation fearless.
The “millennial effect” refers to the motivation of this generation and its influence on industry, technology, services and life in general. The members of this demographic group are the generation of action.
CBD and Millennials
It seems that the millennial generation has more issues with anxiety than others. Why? They’re a busy generation, always on the go and appear obsessed with trends and making life easier. This could add more stress to their lives, which, in return – often leads to increased anxiety. CBD and millennials are a great pair because using CBD is convenient and millennials like convenience.
Millennials are more conscious of what they put in their bodies. Many are living healthy, active lifestyles with diets to match. As more data becomes available about the potential of CBD, it’s attracting more of this generation – which is helping to build CBD’s market value.
This may be the generation to take some attention away from alcohol. Recent reports indicate that millennials get zero enjoyment from drinking alcohol and find cannabis/CBD more satisfying. It’s also more cost effective for them, according to MarketWatch. There’s no hangover with cannabis, and of course, it doesn’t contain carbs – which stays in line with the healthier lifestyle that trendy millennials follow.
More Health Conscious Generation
CBD and millennials are also a great pair because millennials are more health conscious than older generations and CBD’s full potential is still being discovered. Terpenes, minerals and protein are highlights of the millennial lifestyle, and with data pointing toward CBD’s potential for supporting the exit of free radicals in the body, it makes this cannabinoid attractive to this generation.
This generation is so busy that falling asleep is sometimes an issue. CBD may support a better night’s sleep and may support relaxation so that the body feels more rested after sleeping. A healthy sleep-wake cycle is ideal. This allows the body to achieve all 4 sleep cycles and wake easier without feeling too foggy or still tired.
This is a generation that also cares a lot about their looks. Younger generations want to keep their skin looking and feeling young as long as possible. Helping the body to rid itself of free radicals is a method of maintaining healthy looking skin. It’s a healthy oil that can be applied topically and can be used orally.
CBD health and beauty products are especially popular among millennials.
Social Media Influence Matters
Social media is becoming more of a factor for advertising, brand/product awareness and public opinion. Millennial social media influencers make a big impact on sales. The combination of these influencers with celebrity influence can help a brand take off overnight.
Social media influencers make big impressions on consumers and the influencer’s immediate followers. Their job is to get people excited about products. Most influencers receive free product or compensation for their time. Some are paid commission on sales. Millennials have the biggest pool of social media influencers.
In today’s world, social media is very important for brand reputation and presence. You may come across podcasts, Facebook live videos, Snapchats and other live broadcasts that feature CBD and millennials talking about how much they love their products.
Millennials Love CBD Products
According to eBay, millennials really love CBD products. On eBay’s platform alone, millennials searched for CBD products 284,000 times and made 39,000 purchases in 2018. The products ranged from CBD oil to supplements and other products.
Brightfield Group estimated that the CBD market would have a value of $22 billion by 2022. That’s a very attainable number. It’s also possible for that number to be exceeded as more research is able to be conducted. The legalization of hemp in the 2018 Farm Bill is also expected to help the CBD market grow.
Why do millennials love CBD so much? Natural options for supporting their bodies without intoxication. This rings true for several other generations as well. Elder generations are backing away from pharmaceuticals and opioids, but are flocking to CBD and cannabis. Prescription use is down across the country, but more-so in states with legal recreational or medical cannabis programs.
Variety of Delivery Methods
What other factors make CBD and millennials a good pair? The variety of delivery methods and ease of use, of course. As the market matures, there are more types of CBD products available. Vape is popular but CBD edibles are quickly gaining attention. Cooking with CBD is becoming a hot topic since consumers seem to want to stick to their diets but incorporate CBD at the same time.
Millennials influence industry, trends and markets. CBD and millennials is a good pair because millennials like convenience and CBD products are easy to use. As more consumers look for natural alternatives to prescription medications, lead healthier lifestyles and research regarding CBD can advance the CBD market could be influenced further by younger generations.