If you have been hoping that cannabis consumption is just a passing fad that will eventually die down, I have some bad news for you: a recent Bankrate and YouGov poll clearly indicates that the majority of cannabis consumers have no plans to slow down. Most plan to hold the line or increase spending on cannabis in 2025.
The survey of 2,115 U.S. adults also showed that 62% of the cannabis consumers pay using cash. So even though the industry has been denied access to electronic payments and online sales, it doesn’t seem to be hurting all that much. Cannabis users are more than happy to continue paying with cash.
Spending on All Sorts of Vices
It is interesting to note that the previously mentioned survey was not limited just to cannabis consumption. Bankrate and YouGov asked respondents about a whole host of perceived vices. All the vice is on the list are federally legal with the exception of one: cannabis.
So, are you curious about how many Americans buy into all the proposed vices? Here are the numbers:
- Alcohol – 66%
- Lottery tickets – 64%
- Gambling (outside of the lottery) – 40%
- Tobacco and e-cigarettes – 30%
- Sports betting – 29%
- Recreational marijuana – 28%
Survey respondents were allowed to select multiple answers, which makes sense, given the fact that most people participate in at least two of the vices on the list.
As for the Marijuana Users…
As for the marijuana users, 68% reported that they would spend at least as much in 2025 as they did in 2024. A fair percentage of that group said they planned to spend even more. Personally, I don’t know whether that’s good or bad.
If someone told me of plans to increase the amount of money spent on alcohol, I would see that as cause for alarm. Drinking just to drink doesn’t make sense to me. So is consuming marijuana recreationally any more logical?
I could see spending more on medical cannabis in the same way a patient might have to spend more on other prescription drugs. When used for legitimate medical purposes, cannabis can ultimately end up costing a patient more year-on-year. But recreational consumption is a different matter.
Good for the Industry
Regardless of anyone’s personal feelings on the matter, consumers planning to spend more money on cannabis in 2025 is obviously good for the industry. Every industry needs sales to survive – cannabis is no exception.
However, I would be interested to see how it all plays out in the various states. In Utah, the owners of the Beehive Farmacy in Salt Lake City explain that recreational consumption is still illegal. Only medical cannabis is allowed. Furthermore, there are just fifteen pharmacies to serve the entire state population.
Things are different in neighboring Arizona. There, both recreational and medical consumption are legal. The state is littered with pharmacies and dispensaries all competing for their slice of the pie.
Stronger demand in Utah should mean a better bottom line for Beehive Farmacy and its limited number of competitors. But will business increase enough in Arizona to keep its larger number of medical cannabis pharmacies and dispensaries happy?
Cannabis Is Here to Stay
We should have a fairly solid idea of 2025 cannabis sales by this time next year. I am sure the numbers will be higher than the previous year. The mere fact that 68% of recreational marijuana users plan to spend more is clear indication that cannabis is here to stay. We have let that genie out of the bottle. There is no getting it back inside.
