Article by Angela Stelmakowich, Growth Op
New survey numbers from Truss Beverage Co. shows awareness of cannabis-related drinks has ballooned, with 87 per cent of legal-age Canadians reporting they know the products exist.
The finding is based on an online survey from Nov 4. to Nov. 9 with a sample of 1,500 Canadian cannabis consumers who are members of the Angus Reid Forum.
That awareness, coupled with an openness to try something new, may bode well for both those giving and receiving during the upcoming holiday season. In fact, 36 per cent of those polled say they are open to trying new cannabis formats and 20 per cent report they expect to consume less alcohol.
That leaves room for weed-related products to gain ground, something that seems borne out by survey results. More than a quarter, 26 per cent, of respondents say they plan to give cannabis beverages as gifts to family or friends, almost one in five, 19 per cent, say they intend to gift themselves and 21 per cent report currently consume weed beverages, notes a statement from Truss Beverage, a joint venture between Molson Coors Canada and HEXO Corp., which produces the beverages in Belleville, Ont.
Participant responses show “35 per cent of legal age Canadians who consume cannabis beverages do so because it means they don’t have to smoke,” Truss notes. All of the company’s CBD and THC beverages offer a controlled dosage, with most products having a low to medium dose of THC (2.5 mg to 5.0 mg).
“Since day one, our priority has been the consumer and their experience, and that’s not gone unnoticed by Canadians,” company president and CEO Scott Cooper says in the statement.
“It’s been only three months since we launched, and in the past four weeks, we’ve achieved a 34 per cent market share nationally,” Cooper notes, citing the company’s proprietary market share tracker from Oct. 11 through Nov. 8.
Cooper suggests that as cannabis industry continues to evolve across North America, “we’re going to see both consumer demand and market offerings increase.”
As is the case with smoking and edibles, Truss advises that with cannabis beverages, everyone start low and sip slow.