Cannabis eCommerce – Take on the changing market dynamics with Shopware
The global Cannabis eCommerce market value is expected to reach USD 444.34 billion by 2030. What’s your share of this fast-growing multi-billion-dollar market going to be?
After being acknowledged for its medicinal value, cannabis has penetrated physical stores and eCommerce alike. However, this regulated industry is constantly under the radar of federal law, and the differences in legalization across states and countries pose a series of challenges for merchants.
If you are a brand aspiring to make it big in the cannabis eCommerce market, our eBook could serve as a starting point to understand the current landscape, consumer expectations, and how to overcome legal challenges using platforms like Shopware. This eBook discusses about:
- Growth of the cannabis industry
- Consumer expectations in the cannabis industry
- eCommerce challenges faced by the cannabis industry
- How Shopware helps in overcoming market-specific challenges
- The success story of Shopware-powered medical cannabis store
Preview the first 3 chapters of the book
Preview the first 3 chapters of the book
Millennials have the highest consumption rate and contribute to 52% of cannabis sales. The other half is shared by Generation X, baby boomers, silent generation and Gen Z. However, Gen Z are catching up, contributing 2X to the rate of consumption each year. Considering that the consumption rate will continue, the cannabis market will be dominated by Gen Z and millennials.
Reasons for Consumption
According to a study by Numerator, which surveyed 6000 active cannabis users aged above 21 years where cannabis is legal, stress relief is the major reason for consumption. 78% of cannabis consumers report cannabis positively impacting their overall mental health.
The report also suggests that consumers prefer cannabis to aid sleep and manage pain, followed by recreational and medicinal purposes.
Purchase Experiences
With more younger consumers, eCommerce has become the most preferred mode of purchase. Young consumers are mostly digital natives. They often prefer to try new forms of cannabis products.
They look for information about the composition, dosages, effects, and purposes a product is meant for and make informed purchase decisions. Young consumers want brands to know them and expect personalization across the buying journey. They require convenient payment options, delivery methods and faster checkout experience.
Check out our eBook
Gear up to make the most out of the growing Cannabis eCommerce market. Shopware can be the game-changer your business needs to outflank competitors. Our eBook explains how.
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