- Nearly three-quarters of current consumers are not loyal to a particular product or brand
- One-third of non-consumers say they don’t know enough about cannabis to consume it
- Anticipated new consumers are most interested in baked goods, confectionery products
TORONTO, Aug. 15, 2019 (GLOBE NEWSWIRE) — Canada could see as many as 3 million new consumers enter the cannabis market due to legalization and availability of edibles, extracts and topicals (together referred to as “2.0 products”) according to a survey conducted by EY Canada and Lift Co. (TSXV: LIFT) (OTCQB: LFCOF). That figure represents the conversion of approximately 12% of current non-consumers.
“New product offerings will open the doors for experimentation among current and non-consumers giving cannabis companies the opportunity to capture a larger market share,” says Monica Chadha, EY Canada Cannabis Leader. “But companies should keep in mind that these consumer segments will