Additional early cannabis consumer insights will be released this weekend at the Lift & Co. Cannabis Expo running June 7-9 at the Metro Toronto Convention Centre
TORONTO, June 06, 2019 (GLOBE NEWSWIRE) — Lift & Co. Corp. (“Lift & Co.” or the “Company”) (TSXV: LIFT) (OTCQB: LFCOF) today presented a first-look at Canadian cannabis consumer trends, kicking off the Lift & Co. Cannabis Business Conference (“LCBC”) and Expo in downtown Toronto.
In a talk titled Forecasting Canada: An Early Look into Consumer Profiles, Matei Olaru, CEO of Lift & Co. and Cy Scott, CEO of Headset leveraged data from both Lift & Co.’s product review platform and Headset’s consumer trends from legal markets in the United States. Together, this provided an in-depth look into consumer behaviours and future trends for Canada’s nascent cannabis industry.
“Cannabis having been illegal for nearly 100 years here in Canada and much of the world, it doesn’t have a historic data point,” said Matei Olaru. “But this is how the industry will mature: pointed, strategic thinking that pulls in data from a number of sources, and really paints an accurate picture of what will be an incredibly lucrative, incredibly massive, incredibly global industry.”
Key highlights include:
- With the Ontario government expected to announce 50 new retail store licenses in the next few days, it was notable that Ontario is currently lagging behind other provinces for cannabis consumption as a percentage of population. This is likely due to the challenges consumers face finding places to purchase.
- Distinct consumer segments are emerging, not only cutting across age, gender and region but also consumer experience level, and desired outcomes of consumption.
- The main recreational cannabis consumer continues to be millennial-aged males, who consider themselves to be connoisseurs. This segment is responsible for 43 per cent of current legal market spend.
- Another emerging segment is the “canna-curious,” a new consumer more likely to be female and over the age of 45. They are more interested in low THC or CBD-only products and are willing to spend more per shopping trip ($107 on average) and more per item ($24 on average). This consumer is very interested in edibles, extracts and topicals as they are more health conscious and looking for non-smoking consumption alternatives.
Please see the Lift & Co. Cannabis Expo press kit for the full presentation. Interviews are available.
Additional consumer data will be released at the Lift & Co. Cannabis Expo on June 7, 2019 at 12 p.m., in a co-presentation by Lift & Co. and EY Canada titled Consumer Preference Trends in Edibles – All the Data You Can Eat on the Main Stage.
About Lift & Co.
Lift & Co. (TSXV: LIFT) (OTCQB: LFCOF) is a publicly traded technology company modernizing the cannabis industry.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended.
There can be no assurance that such forward-looking statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. The Company disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE Lift & Co. Corp.
For further information:
Lift & Co.
Sara McMillen, Director Communications and Government Relations, Lift & Co.
Nikki Laoutaris, Communications Manager, Lift & Co.
Prit Singh, 905-510-7636, [email protected]