Bulletin
Investor Alert

Dec. 9, 2020, 8:30 a.m. EST

Survey Finds Changing Cannabis Consumer and Consumption Habits

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Curaleaf Holdings Inc. (CURA)

or Cancel Already have a watchlist? Log In

WAKEFIELD, Mass., Dec. 9, 2020 (Canada NewsWire via COMTEX) -- Nearly Half of Adults, Including Parents, Are Swapping Alcohol for Cannabis Since Start of Pandemic

A new survey conducted by The Harris Poll on behalf of Curaleaf Holdings, Inc. /zigman2/quotes/203485866/delayed CA:CURA +2.50% (otcqx:CURLF) ("Curaleaf" or the "Company"), a leading U.S. provider of consumer products in cannabis, finds that 42% of adults aged 21+ who have ever consumed cannabis have started or increased their consumption since the beginning of the pandemic.

According to the survey by the independent pollster, conducted online in October 2020 among nearly 2,000 U.S. adults aged 21+, the main reasons many Americans have chosen to start or increase their cannabis consumption since the pandemic began include:







        
            --  to reduce stress and anxiety (54%; women (64%) and men (47%))
            --  to relax (50%; women (50%) and men (49%))
            --  to help them sleep (48%; women (52%) and men (45%))
        
        
        


This shift in consumption habits extends to parents of children under 18 ("parents"). In fact, more than half (52%) of parents who have ever consumed cannabis say they have started or increased their cannabis consumption since the beginning of the pandemic, compared to 33% of those who are not parents of children under 18. These moms and dads of children under 18 are also more likely to consume cannabis primarily for medical use (58% vs. 44%).

The survey also found that more than half (57%) of parents with children under 18 who have ever consumed cannabis have reduced or replaced their alcohol consumption with cannabis since the start of the pandemic.

Overall, amongst all adult cannabis consumers aged 21+, 45% say they have reduced or replaced their alcohol consumption with cannabis, and one-third (33%) of those who consume cannabis for adult use say they prefer cannabis to alcohol.

"Educating consumers around cannabis consumption is so important," said Stacia Woodcock, PharmD and Dispensary Manager for Curaleaf in New York. "Curaleaf's pharmacists and committed dispensary associates make it a priority to educate our patients and consumers and help them find the right products to make cannabis a part of their lives."

The survey results come as the cannabis industry continues to become destigmatized and evolve into an increasingly mainstream role within society. Governors across the country designated the industry an "essential service" throughout the pandemic, acknowledging the important role cannabis plays serving the health and wellness needs of consumers. In November, voters in five states approved ballot measures expanding access to cannabis. Medicinal cannabis will be available in 36 states and adult-use in 15 states and Washington D.C.

"Since the start of the pandemic, we have seen an increase in new consumers at our dispensaries with more people exploring cannabis," said Joe Bayern, President of Curaleaf. "The liberalization of the plant -- and the increasing diversity among consumers who enjoy it -- will continue as the general public become more interested in incorporating cannabis into their health and wellness routines."

The survey also found similarities in cannabis consumption regardless of educational level or marital status, and across different regions of the country.

About Curaleaf Holdings, Inc. Curaleaf Holdings, Inc. /zigman2/quotes/203485866/delayed CA:CURA +2.50% (otcqx:CURLF) ("Curaleaf") is a leading U.S. provider of consumer products in cannabis, with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a vertically integrated, high-growth cannabis operator known for quality, expertise, and reliability, the company and its brands, including Curaleaf and Select provide industry-leading service, product selection, and accessibility across the medical and adult-use markets. Curaleaf currently operates in 23 states with 95 dispensaries, 22 cultivation sites, and over 30 processing sites, and employs over 3,000 team members across the United States. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information please visit www.curaleaf.com .

About the SurveyThis survey was conducted online within the United States by The Harris Poll on behalf of Curaleaf from October 8-12, 2020, among 1,895 U.S. adults ages 21+, of whom n=772 have ever consumed cannabis. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact media@curaleaf.com.

About The Harris PollThe Harris Poll is one of the longest running surveys in the U.S., tracking public opinion, motivations and social sentiment since 1963. It is now part of Harris Insights & Analytics, a global consulting and market research firm that strives to reveal the authentic values of modern society to inspire leaders to create a better tomorrow. We work with clients in three primary areas: building twenty first century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible.

INVESTOR CONTACTCuraleaf Holdings, Inc. Dan Foley, VP, Finance and Investor RelationsIR@curaleaf.com

MEDIA CONTACTCuraleaf Holdings, Inc.Tracy Brady, VP Corporate Communicationsmedia@curaleaf.com

FORWARD LOOKING STATEMENTSThis media advisory contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", " expects" or, "proposed", "is expected", "intends", "anticipates", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning a national consumer survey conducted by The Harris Poll. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest annual information form filed September 23, 2019, which is available under the Company's SEDAR profile at www.sedar.com , and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

View original content: http://www.prnewswire.com/news-releases/survey-finds-changing-cannabis-consumer-and-consumption-habits-301189319.html

SOURCE Curaleaf Holdings, Inc.

View original content: http://www.newswire.ca/en/releases/archive/December2020/09/c2554.html

SOURCE: Curaleaf Holdings, Inc.

COMTEX_375805990/2197/2020-12-09T08:30:00

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

Copyright (C) 2020 CNW Group. All rights reserved.

/zigman2/quotes/203485866/delayed
CA : Canadian Securities Exchange
$ 20.50
+0.50 +2.50%
Volume: 814,817
Feb. 26, 2021 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$14.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203485866/delayed
CA : Canadian Securities Exchange
$ 20.50
+0.50 +2.50%
Volume: 814,817
Feb. 26, 2021 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$14.00 billion
Rev. per Employee
N/A
loading...

This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.