Got the munchies? It’s likely your customers do, and if you’re not offering a menu of tasty snack foods at your smoke shop, you’re missing out on a $6 billion opportunity.
According to a recently Nielsen Study, sales of snack food and candy have increased in states where cannabis is legal for recreational use.
The main findings were as follows:
• Confectionery sales grew by 2 percent in the states where cannabis is legal, but only 1.3 percent in states where marijuana is not legal
• Overall snack sales increased by 7.2 percent in states where cannabis is legal, and 6% in states where cannabis is not legal.
“Marijuana consumption has been clinically and anecdotally shown to increase a consumers’ appetite and enjoyment of food. And sales data from within the U.S. Census divisions where cannabis has been legalized for recreational use supports the munchies’ effect,” Nielsen reported. “For manufacturers and retailers, American consumers’ hunger for snacks alongside legal cannabis consumption can present an opportunity for cross-selling.”
They also note that cannabis companies that specialize in edible hemp-based CBD products also could see a rise in use.
Nearly all Americans snack, especially younger adult consumers, concluded another report from Marketing Intelligence Agency, Mintel. Straight to the facts: 95% of US adults snack daily, and 70% do so 2+ times per day, making snacking a huge opportunity for connecting with consumers. There’s also an increase in the number of “super snackers” (those who snack 4+ times per day).
Add in the “munchie effect” and it’s easy to see how the increased legalization of cannabis in the U.S. presents big opportunities for the American food and beverage market—particularly for the snack and confectionery category.
The trouble with snacks is that they’re all so yummy. If you’re not sure what your customers would like best, here’s a clue from YouGov.com which ranked the most popular food & snack brands in America. Making the top ten are: M&M’s, Hershey’s Kisses, Reese’s Peanut Butter Cup, Ritz Crackers, Snickers, Lay’s Potato Chips, Oreo, Kit Kat, Tostitos, and Planters Peanuts.