New Cannabis Consumer Data Released Today at Lift & Co. Cannabis Business Conference in Toronto
June 06 2019 - 6:38PM
Lift & Co. Corp. ("Lift & Co." or the "Company") (TSXV:
LIFT) (OTCQB: LFCOF) today presented a first-look at Canadian
cannabis consumer trends, kicking off the Lift & Co. Cannabis
Business Conference (“LCBC”) and Expo in downtown Toronto.
In a talk titled Forecasting Canada: An Early Look into Consumer
Profiles, Matei Olaru, CEO of Lift & Co. and Cy Scott, CEO of
Headset leveraged data from both Lift & Co.’s product review
platform and Headset’s consumer trends from legal markets in the
United States. Together, this provided an in-depth look into
consumer behaviours and future trends for Canada’s nascent cannabis
industry.
“Cannabis having been illegal for nearly 100 years here in
Canada and much of the world, it doesn’t have a historic data
point,” said Matei Olaru. “But this is how the industry will
mature: pointed, strategic thinking that pulls in data from a
number of sources, and really paints an accurate picture of what
will be an incredibly lucrative, incredibly massive, incredibly
global industry.”
Key highlights include:
- With the Ontario government expected to announce 50 new retail
store licenses in the next few days, it was notable that Ontario is
currently lagging behind other provinces for cannabis consumption
as a percentage of population. This is likely due to the challenges
consumers face finding places to purchase.
- Distinct consumer segments are emerging, not only cutting
across age, gender and region but also consumer experience level,
and desired outcomes of consumption.
- The main recreational cannabis consumer continues to be
millennial-aged males, who consider themselves to be connoisseurs.
This segment is responsible for 43 per cent of current legal market
spend.
- Another emerging segment is the “canna-curious,” a new consumer
more likely to be female and over the age of 45. They are more
interested in low THC or CBD-only products and are willing to spend
more per shopping trip ($107 on average) and more per item ($24 on
average). This consumer is very interested in edibles, extracts and
topicals as they are more health conscious and looking for
non-smoking consumption alternatives.
Please see the Lift & Co. Cannabis Expo press kit for the
full presentation. Interviews are available.
Additional consumer data will be released at the Lift & Co.
Cannabis Expo on June 7, 2019 at 12 p.m., in a co-presentation by
Lift & Co. and EY Canada titled Consumer Preference Trends in
Edibles – All the Data You Can Eat on the Main Stage.
About Lift & Co.Lift & Co. (TSXV: LIFT)
(OTCQB: LFCOF) is a publicly traded technology company modernizing
the cannabis industry.
Forward-looking statements
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
Although the Company has attempted to identify important factors
that could cause actual results, performance or achievements to
differ materially from those contained in the forward-looking
statements, there can be other factors that cause results,
performance or achievements not to be as anticipated, estimated or
intended.
There can be no assurance that such forward-looking statements
will prove to be accurate or that management's expectations or
estimates of future developments, circumstances or results will
materialize. Accordingly, readers should not place undue reliance
on forward-looking statements. The forward-looking statements in
this news release are made as of the date of this release. The
Company disclaims any intention or obligation to update or revise
such information, except as required by applicable law, and the
Company does not assume any liability for disclosure relating to
any other company mentioned herein.
SOURCE Lift & Co. Corp.
For further information:Lift & Co.Sara
McMillen, Director Communications and Government Relations, Lift
& Co.smcmillen@lift.co1-416-220-9536
Nikki Laoutaris, Communications Manager, Lift & Co.
nlaoutaris@lift.co1-647-464-0148
Investor Relations:Thesis CapitalPrit Singh, 905-510-7636,
psingh@thesiscapital.ca
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