BOCA RATON, Fla., April 18, 2022 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, released the results of its inaugural “4/20 Cannabis Insights Poll,” which surveyed 1,100 cannabis and non-cannabis consumers in the U.S., 21 years or older. The national poll1 – conducted by the independent market-research provider Pollfish, commissioned by Jushi and overseen by Associate Professor at ArtCenter College of Design, Interaction Designer, Futurist and Jushi Experience Director Julian Scaff – revealed that more than half of cannabis consumers tried “legal cannabis” for the first time in the last 12 months. Furthermore, the majority believe cannabis has an overall positive impact on society, economic growth and creation of high-quality local and national jobs. The survey also examined the top consumer product and cannabis consumption trends emerging in the sector.
“The results of our inaugural “4/20 Cannabis Insights Poll” are clear, consumer confidence in cannabis is growing, as more Americans enter the state-legalized market and are exposed to the benefits of state legalization,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “With the majority of Americans now living in a state with a medical or adult-use program, misconceptions around cannabis are being shed. The latest data clearly shows more people are not only embracing cannabis in their own lives, but also seeing the value it brings to their communities. This poll shows views on the plant and legalization are trending in a positive direction, and we believe this trajectory will only strengthen in the coming years.”
The Plant, Policies and Legalization
Majority Supports Pro-Legalization Politicians: When people identifying as Democrats (33.4%), Republicans (25.4%), independents (24.0%), no political affiliation (12.5%) and other (4.8%) were asked “do you agree or disagree with the following statement: Politicians who support cannabis legalization are more likely to get my vote,” 61.0% of the respondents stated they were more likely to support politicians who are pro-legalization.
Three in Four Support Veterans’ Access to Medical Cannabis: When asked “how much do you agree or disagree with the following statement: The Department of Veterans Affairs should update its rules to allow veterans access to medical cannabis with a doctor’s prescription,” more than 76.1% of the survey respondents stated that they agreed2 the federal agency should update its rules to allow access to medical cannabis with a doctor’s prescription.
Vast Majority Supports Equal Access to Banking: When asked “how much do you agree or disagree with the following statement: Federal banking restrictions should be lifted so that American cannabis companies can have equal access to banking services,” 67.6% agreed.
Majority Says Cannabis Is Important for Growing Local Economics: When asked “how much do you agree or disagree with the following statement: The cannabis industry is important for the local economy,” 62.6% agreed.
Majority Says Cannabis Sector Is Important to Growing the U.S. Economy: When asked “how much do you agree or disagree with the following statement: The cannabis industry is important for growing the U.S. economy,” 61.5% agreed.
More than Half Feel Cannabis Creates High-Quality Jobs for Americans: When asked “how much do you agree or disagree with the following statement: The cannabis industry creates high-quality jobs for Americans,” 56.6% agreed.
More than Half Feel Cannabis Has an Overall Positive Impact on Society: When asked, “how much do you agree or disagree with the following statement: “cannabis overall has a positive impact on society,” 59.0% agreed.
Consumption & Consumer Behaviors
67% Have Purchased Cannabis from a Dispensary: When asked “are you now or have you ever been a consumer of legal cannabis purchased from a dispensary,” 42.2% answered “yes, currently,” 24.7% “not now, yes in the past” and 33.1% replied “no.” After this question, cannabis consumers and non-cannabis users were split into two groups for several questions.
Majority Tried Legal Cannabis for First Time in the Last Year: When cannabis consumers were asked “did you try legal cannabis for the first time in the last 12 months,” the majority of respondents answered “yes” (55.2%).
Medical Use Is the Top Driver for Cannabis Consumption: When cannabis consumers were asked “what is or was your primary reason for using cannabis,” medical came in at 31.4%, followed by stress (22.4%), general wellness (17.5%), recreation (15.9%) and sleep (12.8%).
Medical Would Be the Top Driver for Non-Cannabis Users: When non-cannabis users were asked “what is the primary reason you would want to try a cannabis product,” 26.1% chose medical, followed by stress at 23.4%, which came in neck-and-neck those stating that they would not be interested in trying a cannabis product (23.1%). 10.7% answered they would try for wellness, 8.5% for sleep and 8.2% for recreational use.
Non-Cannabis Users Most Interested in Edibles: When asked “what type of cannabis product would you be most interested in trying first,” non-cannabis users answered as follows: Edibles (32.7%); I’m Not Sure (27.8%); Smoking (17.6%); Vaping (6.9%); Tincture (3.9%); Tablet (3.6%); Drink (3.0%); and Other (4.7%).
Most Cannabis Consumers Consume 1 to 2 Days a Week: 30.7% of cannabis consumers stated that they consume cannabis 1 to 2 days a week; 28.1% stated every day; 23.6% stated 3 to 4 days a week; and 17.5% stated 5 to 6 days a week.
Most Consume in the Evening: When asked “what times are you most likely to consume cannabis,” the majority of respondents stated “evenings” (28.8%), closely followed by 26.9% stating “whenever I need it.” 18.8% stated “any time,” while 18.5% cited “weekends” and 7.1% chose “weekdays.”
Consumers Need More Education: When participants (both consumers and non-consumers) were asked “how familiar are you with different cannabis flower strains,” 59.7% claimed that they were a “novice” or “had a little knowledge” to “some knowledge,” pointing to the need for more consumer education about the plant.
1 The 4/20 Cannabis Insights Poll was independently conducted by Pollfish. All questions were vetted for HIPAA compliance prior to launch. 1,100 respondents / 21+ / Gender-balanced. Questions covered issues from cannabis use to product preferences, social and political views.
2 For questions with a sliding scale, the 4/20 Cannabis Insights Poll added responses for 4=Slightly Agree and 5=Agree to calculate the percentage of people agreeing with the statement.
About Jushi Holdings Inc.
We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, distressed workouts and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis ecosystem. For more information, visit jushico.com or BEYOND / HELLO™ on Instagram and Facebook.
Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current conditions but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, involve estimates, projections, plans, goals, forecasts, and assumptions that may prove to be inaccurate. As a result, actual results could differ materially from those expressed by such forward-looking statements and such statements should not be relied upon. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases or may contain statements that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “will continue,” “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include but are not limited to, information concerning the expectations regarding Jushi, or the ability of Jushi to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has certain expectations and has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward- looking information and statements are the following: the ability of Jushi to successfully and/or timely achieve business objectives, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation, as well as other risks and uncertainties which are more fully described in the Company’s Management, Discussion and Analysis for the three months ended September 30, 2021, and other filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward- looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward- looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
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