Welcome to Senior Cannabis Digest. This week we take a look at how consumers learn about CBD, new training for careers in cannabis, a snapshot of consumer spending trends, treating seizures in dogs with CBD and more. Enjoy.
CBD Spotlight
Word of mouth is key—maybe the most significant factor when it comes to someone deciding they will try a CBD product. Or, put another way, what you think you know is based on who you know.
So says Josh Adams, PhD, writing for New Frontier Data. He reports that not only do a majority of Americans say they are familiar with CBD—an estimated 86 percent—but much of their information on CBD comes by way of those in their own social network.
According to Adams, in a recent report, U.S. CBD Consumer Report: Archetypes and Preferences, researchers found that people are talking about CBD and sharing their thoughts and experiences with those around them. Such interactions are thought by researchers to be the “key drivers” in shaping the perceptions and beliefs which individuals have about CBD and, ultimately, whether or not they decide to try it.
The report noted nearly 9 in 10 (88 percent) of CBD consumers report having friends or family members who are among CBD consumers and 84 percent report having had CBD recommended to them by someone they know. Similarly, more than half (56 percent) of CBD consumers recommended it to others. Thus, much of CBD’s popularity is built on consumers’ sharing their experiences with others.
You can learn more in the article by Josh Adams in the June 7, 2020 edition of Cannabyte, a publication of New Frontier Data.
newfrontierdata.com/cannabis-insights/word-of-mouth-speaks-volumes-for-american-cbd-consumers/?
Careers In Cannabis
If your recent time in quarantine gave you a chance to consider a career move, you may want to explore a new program at Northern Michigan University.
The University has announced a two-year associate’s degree focused on indoor cannabis and food production.The program blends plant science, facility design, entrepreneurship and business management to prepare graduates for careers in various aspects of indoor agriculture.
According to Brian Maclver, writing in Cannabis Business Times, the University is also partnering with Greenflower, an online cannabis education platform, to offer cannabis certifications based on Greenflower’s educational curriculum.
Greenflower CEO Max Simon said that this new partnership makes it possible to receive the accreditation that comes with a certificate from NMU. Said Simon, “You get the credibility that comes from being a part of the NMU alumni. But it’s Greenflower content and technology that’s powering the curriculums and our instructors that are leading the programs.”
There are four certificates being offered as part of this partnership:
• The Business of Cannabis
• Cannabis Agriculture & Horticulture
• Cannabis Law & Policy
• Cannabis Healthcare & Medicine
According to Simon, the program can help to prepare specialized workers that are needed to fill important roles throughout the cannabis supply chain. He added, “I think it’s a very exciting time because it’s the start of a new era in my mind where higher education really takes the cannabis industry seriously and provides the necessary education and training that’s needed to fill the cannabis ecosystem with well-trained workers.”
Each certification includes three courses, Cannabis 101 and two additional curricula that relate directly to the field of study. Each course lasts eight weeks and can be built upon by completing the courses for each certificate program. The cost for each certification is $2,950.
For more information on the associate’s degree, visit www.nmu.edu/tos/indoor-agriculture, and for the certificate programs, visit nmu.edu/cannabisstudies.
You can learn more about both programs at the University by reading Brian Maclver’s reporting in the May 22, 2020 issue of Cannabis Business Times.
Stats of the Week
Alan Wood, writing for Weekend Gardner, has compiled a statistical snapshot of cannabis consumer spending in the U.S. in 2019. Here’s a look.
According to Headset Inc., a research company that tracks all things cannabis,:
• Most U.S. consumers spend between $25-$50 on each trip to the marijuana store.
• The average amount each US consumer spends on cannabis products is about $645 yearly. About 48 percent of those cannabis consumers spent between $500 to $2,500 per year.
• Based on data collected by New Frontier Data, in 2019, the amount US consumers spent on marijuana products per month was estimated at $5.8 billion. That’s roughly $206.5 million a day or $1.45 billion per week.
• When it comes to medical motivations for using marijuana, nearly 69 percent (68.9 percent) said they use it to help them with sleeping while 47.8 percent said they used it to alleviate pain. A surprising 35.3 percent of people report they are using it as a substitute for alcohol in order to cure an alcohol addiction.
On a side note, the most popular form of edibles are gummies, followed by bites, chocolate bars, cookies and mints.
To learn more, visit Alan Wood’s comprehensive review of consumer spending in 2019 in Weekend Gardner.net. You can find it in the June 12, 2020 edition of New Frontier Data’s Cannabis In Sight Daily: Today’s Top Five Things to Know.
Sports Celebrity Spotlight
Another professional athlete has stepped forward to extol the benefits of using CBD as part of a training regimen.
Rickie Fowler, a five-time PGA Tour winner, a four-time Ryder Cup team member, and among the top twenty golf players worldwide, has agreed to become a brand ambassador for seed-to-shelf CBD company Kadenwood LLC.
So says Jalena Martinovic, writing for Benzinga. She reports Fowler will be promoting Level Select, the company’s brand of performance-based CBD personal care products, including sports creams, roll-ons and oil drops.
Said Fowler, “As an athlete, I’m constantly looking for ways to improve my performance, and Level Select CBD has been an instant game-changer for me. What sets the brand apart for me is not only its effectiveness, but its strong commitment to quality.”
Fowler also noted he was impressed by the fact the former U.S. Surgeon General Richard Carmona also serves as the brand advisor for Level Select.
Fowler joins a number of well-known athletes already promoting the benefits of Level Select products, including Heisman Trophy winner and former NFL quarterback Carson Palmer, former Los Angeles Dodger Steve Garvey and Ann Meyers Drysdale, a champion and basketball hall of famer.
You can learn more by reading Jelena Martinovic’s article in the June 10, 2020 issue of Benzinga.
Quote of the Week
“Despite the news headlines that you may have read, this cannabis scientist will tell you that we are still a very far way off from considering cannabis as a legitimate candidate for preventative or therapeutic treatment of COVID-19 infections.”— Matthew Elmes, PhD.
Elmes is a cannabis enthusiast and molecular biologist who has authored numerous peer-reviewed papers on cannabinoid science. He currently serves as the Director of New Product Development for Care By Design.
The quote comes from his rather clear-eyed and detailed assessment of recent work by Canadian researchers promoting the benefits of cannabis in efforts to treat the COVID-19 virus.
His reporting appears in the June 10, 2020 edition of Project CBD.org.
www.projectcbd.org/medicine/cannabis-covid-19-breaking-news-or-bogus-science?
More News On CBD and Dogs
Good news for dog owners. A new study indicates CBD can offer significant benefits when it comes to reducing seizures in dogs.
That’s the word from Brendan Bures, reporting for the Fresh Toast. Bures writes that Dr. Stephanie McGrath of Colorado State University developed a pilot study around CBD’s effect on dogs with epilepsy. In her clinical trial, 89 percent of the dogs taking CBD had a reduction in seizures. This is significant because, according to researchers, nearly 6 percent of dogs worldwide suffer from a particular form of epilepsy.
In an interview with the local Fox-TV affiliate in Denver, CO., McGrath said, “There was a significant reduction in seizure activity. The higher the CBD in the dog’s bloodstream, the greater seizure reduction we achieved.”
McGrath noted it’s possible that in the future CBD may serve as an alternative to existing anticonvulsive drugs for dogs.
You can learn more by reading Brendan Bures’s complete article in June 9, 2020 issue of The Fresh Toast.
www.benzinga.com/markets/cannabis/20/06/16205625/study-cbd-connected-to-seizure-reduction-in-dogs?
Senior Cannabis Digest is compiled and edited by Joe Kohut and John Kohut. You can reach them at joe.kohut@gmail.com and at 347-528-8753.
