The game has changed. Like it or not, investing is vastly different than it was 10 or 20 years ago. The information age means that you have to stay on top of demographic shifts and changes in consumer demand, and the cannabis industry is no exception, as this sector is moving forward at a breakneck pace.
You should know, however, that you’re not alone in this. To help you sort out the latest developments, Portfolio Wealth Global has summarized the vital information from our conversation with cannabis industry expert Corey Mangold, who is the co-founder of award-winning brand developer Orchid Ventures, Inc. (CSE: ORCD).
Orchid Ventures is headquartered in Irvine, California and owns Orchid Essentials, an award-winning cannabis brand with THC and CBD product lines that are currently sold in nearly 300 dispensaries across California and Oregon, with more states on the radar. In fact, the company plans to expand the Orchid Essentials brand into new regions, including Nevada, New York, Puerto Rico, Canada, and other global markets.
Courtesy: Corey Mangold
With over 20 years of experience designing and developing compelling customer experiences across a wide variety of industries, Corey Mangold is a highly successful serial entrepreneur with an outstanding track record. His deep understanding of technology and design – and, of course, the emerging legalized cannabis market – allows him to provide a unique perspective to the Orchid Essentials brand.
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Change is afoot, and Portfolio Wealth Global quickly directed our conversation with Mr. Mangold to matters of demographic trends in the legalized cannabis market. According to Corey Mangold, there’s a new user that’s dominating cannabis consumption in America and worldwide, and investors must be aware of this important change.
In terms of demographics, according to Corey Mangold, the new user is centered around those aged 35 years and above. This might surprise you because the widely held assumption is that medical and adult recreational cannabis consumers are typically younger.
Courtesy: Corey Mangold
According to Corey Mangold, shifts in cannabis consumption trends have moved the primary consumer base towards baby boomers and women. Consumers in these demographic segments are increasingly choosing to enjoy cannabis products instead of a glass of wine or martini to relax them.
With increased education and information, these demographics are now realizing that legal, regulated cannabis products have the potential to help relieve anxiety and discomfort without causing the cell and organ damage associated with alcohol consumption – which may help explain why we’ve seen a decline in alcohol sales of 30% or greater in many states.
Furthermore, according to Corey Mangold, consumers across all generations – including millennials and baby boomers – are making more mindful and healthy choices. As the stigma fades and cannabis moves ever closer to full legalization, the consumer base for cannabis products is expected to expand dramatically through this year and into at least next year.
Courtesy: Corey Mangold
Mr. Mangold’s company, Orchid Ventures, is making strides in penetrating the American cannabis market by serving the discriminating tastes and preferences of the modern consumer. Vaping is among the fastest-growing segments of the cannabis market, and Orchid Essentials’ premium vaping products provide the user experience demanded by today’s cannabis consumer.
Vaping is the cannabis consumption method of choice, according to Corey Mangold, because it’s convenient and user-friendly – that’s why Orchid specifically developed their line of high-quality vape products to meet the highest standards of excellence.
That would also help explain why Orchid’s vaping products have been such strong and consistent sellers – the demand for the absolute best has driven Orchid’s revenues and put them on the map as the go-to vaping brand in multiple U.S. states, with more regions to be conquered in the near future.
With so much industry knowledge to share, Mr. Mangold is like an encyclopedia of the cannabis market, so we highly recommend that you watch Portfolio Wealth Global’s deeply informative interview with Corey Mangold. In addition, we encourage you to visit OrchidEssentials.com to learn even more about this cannabis accessory newcomer that has incredible growth potential.
Research Partner, PortfolioWealthGlobal.com
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