Quality and Price Driving Cannabis Purchases

By: Sean Tarry

A combination of quality and price is driving the majority of purchasing decisions for today’s Canadian cannabis consumer, according to a survey commissioned by Cannabis Retailer and conducted by Caddle.

Quality Above All

According to the recently released survey findings, containing questions asked of active cannabis users, an overwhelming 40.9% cite the quality of the product as one of the most important reasons behind their purchases. Price provides an equally powerful sway, with 38.6% considering it a significant factor. And 37.9% of respondents take the ratio of THC to CBD strongly into account when deciding on their cannabis purchases. Other reasons noted as important include the safety of the product (25.2%), strain (16.1%), brand/producer (9.6%), terpene profile (7.6%), and presence of minor cannabinoids (5.5%).

Which factors are MOST important to you
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Generational Differences

Responses of consumers among the different generations varied slightly with respect to the weight placed on the importance of the aforementioned purchasing influencers, with quality, price and the ratio of THC to CBD among the top three for just about every group. However, interestingly, the respondents among the Greatest Generation (70+) cite the brand/producer of the product (36.2%) and the safety of the product (30.3%) as their top two most important considerations, followed by price at 23.7%.

The Terpene Factor

The survey also reveals that the terpenes inherent within cannabis products are a somewhat (23.1%) or very (26.9%) important consideration for exactly half of respondents. However, the exact importance of terpenes very much depends on the age of the consumer, with 65.6% of Gen Z respondents considering them to be somewhat or very important, followed by Millennials (48.1%), the Greatest Generation (46.1%), Gen X (46%), and Baby Boomers (41.6%). Most interesting, though, is the fact that only 12% of cannabis consumers asked don’t consider terpenes important, with nearly 4 in 10 (38%) stating neutrality when it comes to terpenes as a purchasing influencer, indicating an opportunity for cannabis retailers, and the industry at large, to increase education and awareness around cannabis use and the qualities and characteristics of certain products that make them unique.

Online Purchases

When it comes to the industry’s bourgeoning ecommerce ecosystem, with a disparity of options and availability in cities, regions and provinces across the country, it seems that fast home delivery of product is becoming a significant consideration among cannabis consumers when purchasing product online. In fact, according to the survey, 53.8% say that fast delivery is a somewhat (23.6%) or very (30.2%) important influence on their online cannabis purchasing decisions. Slightly more than one in five (20.1%) say that they don’t purchase cannabis online. More important than the speed of delivery, however, is ensuring that the service provided is free for the consumer, as 64.1% of survey respondents state that free delivery of cannabis is a somewhat (21.9%) or very (42.2%) important influence on their decisions to purchase product online.