The Marijuana Industry should not overlook the baby boomer generation. It has long been assumed that the Marijuana industry is for the young, however the boomer population is seen as one of the highest consuming groups. Since 2002 the % of marijuana users in the 55 to 59 and 60 to 64 age bands have tripped and doubled respectively. The marijuana industry is the new home of Baby Boomers looking for job changes or secondary careers. At a recent industry trade show in Vegas, there were more baby boomer in attendance then another other age group. They are making their mark and are going to be heard.
What does this mean for the industry and for motivated baby boomers? It means opportunity for people that have lived in the shadows for years to come out and get involved in an industry they have support. Their involvement in the industry may be as consumer, advocate or career enthusiast.
- As consumers they are pushing the market to appeal to them as customers. For hemp culture shops like Kushh, this includes easier access locations, handicap accessibility, professional service and appropriate product lines. For dispensaries this could mean delivery services or more upscale locations.
- As advocates, the baby boomer population is showing a huge increase in use of marijuana for medical treatment for conditions that come with age. This changing face of medical marijuana and also challenges stigmas and preconceived concepts.
- In the way of careers, we are seeing more baby boomers drawn to the market due to years of dedication to the industry and the huge potential the industry represents. Due to the economic challenges that have faced the baby boomers, in their final years of savings, many are not retiring or are only partially retiring. Combine this with years of business experience in many fields, and the baby boomers are a force to be considered. From baby boomers with investment capital to long term black market growers the industry is ripe for their involvement.
Whatever the motivation is for the Boomers influx into the marijuana industry, it will serve the industry well. Their knowledge, capital and passion will help change the face of the industry and help it in it’s transition to legitimacy.
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