The cannabis business in recent years has increased support in demographics, particularly with females, as more women in the country have started supporting cannabis legalization. This move will result in increased financial benefits for the cannabis industry. Today, women drive between 70% to 80% of all purchasing through their influence and buying power. With the sales of this business expected to go over $25 billion by the year 2025, there’s no doubt that this spending power will increase the industry too.
Women are now climbing to the top of the cannabis industry. You will find accomplished women in all the facets of this industry. Many of them operate with a huge behind-the-scenes influence while others have become household names. Here are some women entrepreneurs to look out for:
Emily Paxhia, the Managing Partner and Co-Founder at Poseidon Investment Management
In the 10 years of her career as a consultant, Emily Paxhia has reviewed thousands of companies associated with the cannabis industry. She also worked with brands and v founders as an investor early on. She helped propel the industry as a member of the Marijuana Policy Project’s Board of Directors and she is currently a member of CARE’s Board of Athletes.
Nancy Whiteman, the Co-Founder of Wana Brands
Nancy Whiteman co-founded this company, which is Colorado’s top cannabis edibles producer. She has even gained the title, the “Queen of Weeds.” Aside from this, she also works to promote sustainability in the industry. This ensures that the businesses that benefit from the legalization of cannabis will have stable futures.
Amanda Reiman, the Vice President of Community Relations for Flow Kana
Amanda Reiman is an authority when it comes to marijuana. Aside from being the Vice President of Community Relations for Flow Kana and a former manager of the marijuana law and policy for the Drug Policy Alliance, she is also the secretary for the International Cannabis Farmers Association. This is a non-profit organization that advocates for favorable research and policies on behalf of the cultivators of sun-grown cannabis.
Wanda James, the Founder and CEO of Simply Pure
Wanda James is the founder of the first black-owned legal cannabis dispensary in the US, which she found with her partner, Scott Durrah. Before this, she worked on the National Finance Committee for Barack Obama, the former President. She is also a military veteran with a lieutenant rank in the US Navy. She established her cannabis empire in Denver, Colorado while remaining as a powerful advocate for equity.
Dr. Lakisha Jenkins, the Registered Herbalist
In the world of alternative therapies, many consider Dr. Lakisha Jenkins an information powerhouse. The main focus of her work is to find the most effective ways to incorporate cannabis into herbal therapies to maximize overall wellness and health. This allows her to show the world how cannabis can be a part of a healthful and natural lifestyle.
Amy Margolis, The Founder of the Oregon Cannabis Association
Apart from being the founder of the Oregon Cannabis Association, Amy Margolis also has around 20 years of experience as a lawyer and she has dedicated her work to help women thrive and grow in the cannabis industry. She is also known as the founder of The Commune in Portland, a cannabis-friendly gathering space, and The Initiative, an accelerator/ incubator for women in the industry.
What do women want?
When it comes to cannabis, women want products for wellness and health above anything else. Many women have a preference for vape pens and flowers compared to capsules and prerolls. Therefore, as a supplier, you should focus on making your flower edible packaging more appealing to women. Using this as an example, you can attract more women clients if you know what they want.
The motivations for the use of cannabis differ for women and men. Men generally use cannabis in a recreational form while women lean more towards a homeopathic use.
Cannabis buying patterns of women
Due to the increasing demands of cannabis by women, subtle preferences have begun to emerge. For instance, women have preferences for “beginner” products because they are easy to use. These include flowers, edibles, topicals, and vapes. Making women-friendly tincture bottles, edible packaging, flower packaging, and topical packaging is key to attracting this demographic. Products that come in glass jars are quite appealing too.
Women don’t want complex products that require paraphernalia. This may be a reason why the most popular cannabis products come with names associated with words like happiness, relief, and calmness. Most of the time, women buy products for:
Many consumers have chosen to reduce their consumption of pharmaceutical medications for pain. Women find relief by using natural cannabis products in glass jars with lids and other similar products.
There are different reasons why women use cannabis. For instance, 67% of women use these products for personal care while 84% of women use cannabis for sleep. Generally, women focus more on wellness when it comes to these products.
Although some women remain reluctant to associate themselves with the cannabis industry, more women have shined in it. Women interested in CBD products focus more on health, beauty, and wellness products. But some have also invested in the cannabis industry since it is a highly profitable venture.