Cannabis companies differentiate from competitors on the basis of social good
Trend - In a competitive and rapidly growing market, emerging cannabis brands are angling their products and business models around social or ecological good. These brands are helping to lessen the stigma associated with the product and speaking to issues that many care about today.
Insight - Millennial and Gen Z consumers tend to shop not just based on preference and lifestyle habits, but with an understanding of brand purpose as well. These generations tend to buy from brands that align with their personal values, and everything from charitable causes to brands that support certain social causes are appealing to these demographics.
Insight - Millennial and Gen Z consumers tend to shop not just based on preference and lifestyle habits, but with an understanding of brand purpose as well. These generations tend to buy from brands that align with their personal values, and everything from charitable causes to brands that support certain social causes are appealing to these demographics.
Workshop Question - What causes do your consumers care most about? How could you position your brand as an authentic supporter of those causes?
Trend Themes
1. Socially Responsible Cannabis Brands - Cannabis companies are differentiating themselves from competitors by aligning their products and business models around social or ecological good.
2. Brand Purpose - Millennial and Gen Z consumers tend to buy from brands that align with their personal values.
3. CBD for a Cause - Brands are using CBD products to take a stance on social justice issues and to raise awareness for various causes.
Industry Implications
1. Cannabis - As the industry grows, there is increasing demand for cannabis products that are socially and ecologically responsible.
2. Consumer Goods - Consumer goods companies must strive to align their brand messaging with their customers' values and prioritize social good initiatives.
3. Pharmaceuticals and Healthcare - Brands in the pharmaceutical and healthcare industries can also differentiate themselves by incorporating social justice initiatives into their brand messaging and company culture.
5 Featured, 39 Examples:
127,892 Total Clicks
Date Range:
Feb 15 — Apr 19
Trending:
Warm
Consumer Insight Topics:
