The approval rating for legalizing marijuana is at its highest rate in nearly 50 years among the American public according to Gallup. Gallup’s survey suggests that the overall approval rating for legalized recreational marijuana is up to 60% nationwide. Although all groups of people surveyed have an increased approval rating, approval from Millennials has increased the most. With just four states and the District of Columbia with legalized recreational marijuana to date, new statistics infer that continued legalization by states is likely. November’s rapidly approaching election will help indicate if the current approval rating will continue to climb.
Currently, Americans living in states where marijuana is legal is at just five percent. With five more states voting on legalization this November, this could potentially increase to 25% if all measures were to pass. Among adults surveyed in 2003 and 2005, Gallup reported a national approval rating of 35%. As of 2016, the rating jumped to 60% with 77% of Millennials surveyed approving of legalized marijuana. While all age groups showed an increase in approval, the age group of 18-34 showed the largest increase in support.
Politically the numbers have increased as well. Gallup noted that Democrats displayed the largest increase in support since measured in 2003/2005 topping off at a 67% approval rating. Independents currently have a 70% approval rating and support for legalizing marijuana from Republicans has more than doubled in the same period of time (from 20% to 42%).
So what does all of this mean for your marijuana business?
As the approval rating among the American public increases, so will the opportunity for business. As marijuana is pushed more and more into the spotlight and becomes more mainstream, this industry will continue to grow. This is good and bad. The good: more opportunities to thrive in your business. The bad: more competition as newcomers jump on board and work to thrive in the marijuana industry as well. The question is – are you ready?
Does your marijuana business have what it takes to stand out from the growing marketplace? Or will your business get lost in the crowd? Do you have the right partners in place to accomplish your business goals? What about the consumer experience you offer? Are you just selling product to whomever walks through your doors or does your business tailor to the individual needs of each person, truly understanding who your customer is?
These can be tough things for any business to accomplish on their own. But when you partner with Digital 303, you get just that – a partner. We want our clients to be successful at reaching their business goals and we know how to make that happen. Our creative marijuana marketing agency specializes in marijuana marketing and branding. Our professional services from beautiful web design to social media, photography to video production, can help your marijuana business grow.
Don’t miss out on the opportunities that lie ahead because your business didn’t have the right partners in place. Regardless of the results of November’s election and the process of legalizing marijuana, the rising approval rating suggests that change is imminent. Whether it happens next month or next year, the time is now to make sure your business is ready for growth. Contact us today to discuss making your marijuana business plans a reality.