Cannabiz Adds OTC Med Data to CannaUse Study

In the US, marijuana insight firm Cannabiz Consumer Group has added over-the-counter (OTC) medication data to its CannaUse study, to help clients understand the impact that legalization of cannabis is having on the sales of OTC products.

Set up last year in response to adult cannabis use legislation in California, Nevada, Maine and Massachusetts, Cannabiz Consumer Group offers a range of services to help growers, producers, dispensaries, municipalities, investors, real estate brokers, and manufacturers of cannabis understand the entire cannabis ecosystem. These include market measurement and tracking, consumer and shopper segmentation and targeting, trade area assessment and predictive analytics, combined with industry data collection, data science and data processing technologies.

The CannaUse survey includes cannabis POS data, longitudinal consumer purchase data from IRI's National Consumer Panel, and insights obtained from a CPG/cannabis survey conducted with 55,000 individuals within IRI's panel. With the addition of OTC product data, CannaUse now analyzes those people moving to cannabis for OTC categories such as internal analgesics, sleep remedies, and feminine relief pain, to understand who is switching, why they switch, which segments/brands are most vulnerable, and how much volume is being lost. The study also now highlights the financial impact to manufacturers and retailers, and provides financial projections for how much is at risk as the next set of legal markets are established.

Co-founder Rich Maturo (pictured) comments: 'Cannabis has quickly emerged as the largest 'new' CPG introduction in our lifetime. Companies operating with the OTC industry are especially vulnerable as more consumers migrate within new and existing legal markets. With recent passage of adult use laws, more than 25% of US adults now can consider cannabis as another option to treat pain and other ailments without any script or medical card. Cannabis has become a new OTC medication'.

Web site: www.cannabizconsumergroup.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.