All in the Cannabis Industry Should Work to Change “The Stigma”
If you are in the cannabis industry, you know changing the stigma of cannabis is paramount to growing your business. If you have a stake in the industry, then it is in your best interest to help reshape the perception of cannabis consumers.
We think we could all agree that the image of a cannabis consumer is not the “stoner” that was created 50 years ago. There will continue to be a diverse range of customers. Lately, the industry has seen a significant increase in female and older customers. Consumers will be a mix of medical and recreational users. As summarized in a recent study, cannabis consumers are successful, motivated, and health-conscious. Here is one set of data on cannabis users:
Source: https://www.forbes.com/sites/javierhasse/2021/08/11/study-shows-cannabis-consumers-are-successful-motivated-health-conscious-snoop-dogg-weighs-in/
It is important to recognize that responsible cannabis users want cannabis that is legal, safe, and transparent via a convenient shopping experience. As stated in the study cited above, “55% of respondents look to dispensaries for that experience, while twenty-four percent prefer to shop online. The back-alley transaction has been replaced by touchscreens and trusted budtenders.”
An article in Rolling Stone asked the question, “How do we as leaders in the cannabis industry educate others to remove the stigma?” In the article they suggested the following:
Here are some steps we’ve taken to break these barriers and stigma that may help you do the same:
• Put your money where your mouth is. We are investing in a social equity platform through our portfolio company, which will allow minority owners access to capital. Consider evaluating where you can make the most impact with your capital when it comes to breaking barriers and stigma.
• Ensure your brand is moving toward the future and not focusing on the past so as to avoid perpetuating any misconceptions. This means 21st-century branding that is fresh and modern as opposed to an approach that plays into stereotypical stoner stereotypes. What does that mean? Think less tie-dye and green leaves front and center.
• Invest in your community. Our portfolio companies are often some of the largest employers and tax centers for their communities. Make sure you are working with your local city council to direct your tax dollars and assist with training local populations.
Here are some additional characteristics we believe will help to have a strong impact on changing the stigma of cannabis:
More and more people will be in favor of the legalization of both medical and recreational cannabis.
More research will be performed and more studies will be released on the medical benefits of cannabis.
More doctors will recommend medical marijuana.
Consumers will become more aware of the benefits of cannabis.
People will better understand cannabinoids, terpenes, and other ingredients in cannabis.
There will be more information available about cannabis via shopping at a local dispensary and online materials.
The best way to change the stigma of cannabis is through ongoing education. That is our recommendation to you. Provide cannabis consumers with valuable information. Utilizing LucidIDs is one way to accomplish this.
Lucid Green is committed to driving trust and transparency in cannabis. Yes, we believe this core value will help drive greater success for our business, but we also want to see the cannabis industry as a whole grow and succeed. We aim to educate consumers on the cannabis they consume and we urge you to do the same.
If you want to learn more about Lucid Green’s solutions for the cannabis industry, please contact us here or schedule a demo here.