• For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
Facebook Twitter Instagram
Monday, March 27
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources
Facebook Twitter Instagram
WholesaleCentral.com Blog
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
WholesaleCentral.com Blog
Home»Featured Products»Product News»CBD Consumers Have Consistent Purchasing Patterns
Product News

CBD Consumers Have Consistent Purchasing Patterns

Krystina MorganBy Krystina MorganDecember 8, 20204 Mins Read
Facebook Twitter Email
Share
Facebook Twitter Email

woman helping customer

A new CBD usage and consumer behavior report released by Bigeye, an Orlando-based advertising agency, found that over two-thirds (67 percent) of CBD users spend up to $99 per month on products containing CBD. In addition, of the more than 750 survey respondents, Bigeye found that 74 percent have been using CBD for two years or less.

The Industry is Exploding

CBD has become a national phenomenon, especially during the pandemic. It’s alleged calming and pain-relieving side effects have consumers cleaning off shelves and stocking up online. Another survey conducted by SingleCare in 2020 found that 33 percent of American adults have used CBD once or more, and of all age groups, Americans aged 18-29 are most likely to use CBD consistently, with its popularity decreasing with age.

“The CBD market is exploding, and it’s not just one particular demographic or age group adopting it or regularly spending money on CBD products. The variety of issues that CBD can be used for, along with the wide range of products available, make it a popular choice across the board,” said Adrian Tennant, VP of Insights at Bigeye and the leader of the research team, in a press release. “While we’re finding that most users are learning about CBD from a common source — friends and family — their reasons for purchasing it differ depending on age, educational level, and income. The findings from this report will be vital for businesses to understand consumer behavior in this new marketplace.”

Consumer Purchasing Habits

The research for the Bigeye report was gathered from 798 CBD users across the U.S. and Puerto Rico, finding that:

  • The most dominant indications for CBD use are for anxiety (38 percent), stress (36 percent), sleep (36 percent), and relaxation (34 percent).
  • Over two-thirds (67 percent) of CBD users spend up to $99 monthly on products containing CBD, while over a quarter (26 percent) spend between $100 and $199 monthly.
  • The number of people reporting CBD use is up three percent since March 2020, likely due to COVID-19.

The report found that users purchasing CBD products for pain relief, to aid sleep and relaxation, or for other conditions are most likely to be spending $0-$49 per month, while those using CBD for mental health, to treat medical conditions, and for beauty and skin conditions are most likely to be spending $50-$99 per month. Fourteen percent of those using CBD to treat medical conditions are spending $200-$249 per month.

In-Store Purchases

CBD products purchased from physical stores are primarily bought from cannabis/medical marijuana dispensaries (43 percent), or health, vitamin, or supplement stores (26 percent), according to the report. One-fifth of users report purchasing from drug stores and another one-fifth from vape or smoke shops.

For those using CBD for pain relief, medical conditions, beauty and skin conditions, and other conditions, purchasing once a month is the most common frequency, but those using CBD for mental health are very slightly more likely to purchase more frequently, such as once every couple of weeks. More than one-fifth of those using CBD products to aid sleep and relaxation are purchasing significantly less frequently than most – at three times a year or less. Sixteen percent of those using CBD for pain relief also purchase three times a year or less, according to the report.

Positive Growth in 2021

Other reports note CBD sales in the U.S. skyrocketed to $5 billion in 2019 — a 706 percent increase over 2018 — and are projected to reach a whopping $24 billion by 2023, according to a report by Brightfield Group. Consumers’ receptivity to CBD has been growing rapidly since the 2018 Farm Bill legalized industrial hemp production. If consumers are seeing positive results and liking the effects CBD has on them, they will likely continue to use and purchase CBD in the future. COVID-19 also is not going anywhere anytime soon, and shoppers seem to be coping with CBD products.

CBD December 2020 Issue health and beauty
Share. Facebook Twitter Email
Previous ArticleTrade Show Trends & Roundups for 2021
Next Article How to Improve Business Finances & Cash Flow

Related Posts

2023 Wholesale Apparel Trends

March 14, 2023

Top Wholesale Easter Products

February 27, 2023

Overstock Liquidations

January 25, 2023
Sign Up for Buyer Updates
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Latest Posts

Amazon Return Pallets For Sale: How to Profit

March 20, 2023

2023 Wholesale Apparel Trends

March 14, 2023

Top Wholesale Easter Products

February 27, 2023

The Future of Sustainable Manufacturing is a Hybrid Approach

February 23, 2023

Make Money with Foreign-Trade Zones

February 22, 2023

Overstock Liquidations

January 25, 2023
how-to
Wholesale 101 for Buyers

Amazon Return Pallets For Sale: How to Profit

March 20, 202311 Mins Read

A big trend among some online sellers is buying Amazon return pallets and overstock and…

Product News

Overstock Liquidations

January 25, 20236 Mins Read

Overstock inventory refers to the excess goods or merchandise that a retailer has on hand…

Retail News

5 Essential Tax Season Preparation Tips

January 24, 202310 Mins Read

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions…

Wholesale 101 for Buyers

How to Create a Google Business Profile

January 18, 20236 Mins Read

Looking for new ways to get your brand noticed? Creating a Google Business Profile can…

  • About Us
  • Subscribe
  • Contact Us
  • Advertise
  • Find Wholesale Sources
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Follow Us:

Copyright © 2023. Sumner Communications, Inc..

Type above and press Enter to search. Press Esc to cancel.