Established brands enter the cannabis space in an authentic way
Trend - Cannabis is becoming increasingly popular in North America and established brands are taking part in the growing market. By leveraging their strengths and established brand identity, these companies are able to reap the benefits of being a first-player in the cannabis lifestyle.
Insight - Contemporary consumers are feeling more at ease with cannabis as an ingredient in lifestyle goods as the industry grows and more products enter the market. Driven by curiosity, individuals are looking for ways to introduce the plant into their daily routines. Since many are wary about how cannabis might affect them, consumers look to more established and familiar brands that they trust in order to gain peace of mind and be more comfortable on their cannabis journey.
Insight - Contemporary consumers are feeling more at ease with cannabis as an ingredient in lifestyle goods as the industry grows and more products enter the market. Driven by curiosity, individuals are looking for ways to introduce the plant into their daily routines. Since many are wary about how cannabis might affect them, consumers look to more established and familiar brands that they trust in order to gain peace of mind and be more comfortable on their cannabis journey.
Workshop Question - Where could you see your brand fitting into the emerging cannabis industry?
Trend Themes
1. Established Brands Enter Cannabis Market - More established brands are recognizing the opportunity in the growing cannabis market as consumers look for trusted names to introduce cannabis into their daily routines.
2. Incorporating Cannabis in Everyday Products - As contemporary consumers continue to feel more at ease with cannabis as an ingredient, brands are incorporating cannabis into everyday products such as mascara and snack bars.
3. Cbd-infused Beauty Products - CBD is making its way into the beauty industry, with products like OUAI's Scalp & Body Scrub utilizing its anti-inflammatory properties.
Industry Implications
1. Cannabis Industry - The cannabis industry continues to grow and attract established brands, creating opportunities for new products and services.
2. Beauty Industry - The beauty industry is incorporating CBD as an ingredient in new products, creating opportunities for innovation and disruption.
3. Food Industry - The legalization of recreational marijuana in Canada creates opportunities for food and beverage brands to create products that appeal to the cannabis culture and satisfy the munchies.
