Subject: Old Folks & Your Bottom Line
Whatever Cannabis products your company makes, if you are not including the Seniors market in your strategic planning, and if you are not developing the specific messages, products and support mechanisms needed to reach and penetrate the Seniors market, you are not only missing a great opportunity – you are ceding an enormous part of the market to your competition.
It is natural for Cannabis entrepreneurs to concentrate on the markets they know best – which in many cases means mainly other young people, because a lot of Cannabis entrepreneurs are themselves on the healthy side of 65.
But just because their bodies are old, and their capabilities not what they once were, doesn’t mean that old people cannot become excited, loyal customers for any company that makes the effort to identify and address their special needs and desires.
Because Cannabis and Cannabis products are so relevant to the needs and desires of older people, and because older people are too-often simply being ignored as the Cannabis market is being developed, largely by younger people, those businesses who create quality Cannabis products tailored specifically to the needs and desires of Seniors will not only rake in a large share of the profits to be made in their sector, they will give themselves staying power that will last for decades.
There is a simple reason for this. A person in their 30’s today is going to be a person in their 60’s in the blink of an eye. (Believe me – it happens precisely that fast.) Just as young people create new opportunities for businesses, people growing old creates an equally powerful set of opportunities.
Seniors Need Cannabis & Cannabis Companies Need Seniors
Humanitarian arguments concerning the positive moral value of providing Seniors with loving, caring treatment with Cannabis may not seem relevant to people in their 20’s, 30’s and 40’s who are busy building a Cannabis business. They are rightfully focused on their bottom line and so they are, for the most part, consumed with going after what they see as low-hanging fruit – the tens of millions of young existing Cannabis consumers lusting for new experiences, new products, and new ways to get high.
But that good old bottom line is exactly why smart young businesspeople need to pay attention to the sheer size of the potential Cannabis market for Seniors. Because numbers matter on the bottom line, and even if compassion isn’t part of the formal calculations, its influence is either there or it is not. And it does make a difference – in the case of the Cannabis market for Seniors, it can make a huge difference. Here are some things to consider.
Why Caregiver Demographics Matter
In Fall, 2015 the National Alliance for Caregiving (NAC) and AARP published extensive data that among other things showed that 34 million Americans had provided unpaid care to an adult age 50 or older in the prior 12 months. Using a 1:1 ratio that means a cohort of 68 Million people.
Research also consistently shows that more than 50% of people over 50 have a favorable view of medical Cannabis. However, since there are only @ 4 – 5 Million current Cannabis users over age 55, there are a lot more people who could benefit from medical use of Cannabis than are currently using it.
Given the numbers, it is reasonable to project that @ 50% of Senior Caregivers and 50% of the Seniors they are caring for probably have a favorable view of Cannabis as a natural medicine, EVEN THOUGH only a relatively small percentage of those with favorable views are currently using Cannabis.
Don’t you wonder why this is the case? If you have anything to do with the Cannabis industry, you should be thinking about this.
The data tells anyone who cares to look that 30-40 million people who have excellent reasons to be interested in Cannabis as a natural medicine have not yet tried it. Why not? Could it be as simple as this – they might simply need to have more information presented to them in relevant terms, or they may have serious fears that nobody has addressed effectively.
The NAC/AARP 2015 study also shows that: “The majority of caregivers are female (60%), but 40 percent are male. Eight in 10 are taking care of one person (82%). They are 49 years of age, on average. A large majority of caregivers provide care for a relative (85%), with 49 percent caring for a parent or parent-in-law. One in 10 provides care for a spouse. Higher-hour caregivers are almost four times as likely to be caring for a spouse/partner.”
So, a typical caregiver is a woman in their middle age caring full-time for a parent or elderly relative at home, unpaid and largely unappreciated, and subject to their own challenges of boredom, stress, fatigue and declining health. Many of these people are seeking, or would be open to, any solution that will make their job easier and the lives of those they love and care for better.
So, bottom line (there it is again), Cannabis companies, no matter what their products or markets, have an opportunity to expand their vision to address a whole new market of 30—40 million potential customers.
It’s simple to ignore that little fact – because you’re already making tons of money. But then the smart people who are your competitors will eat your lunch. That is the challenge to any business that wants to be a part of the Cannabis community.
There Are Seniors Markets Beyond Caregiver/Patient
There are over 75 Million independent seniors in the US, many with medical issues identical to those of seniors living under care, that can potentially be addressed effectively by Cannabis.
Let’s look at Sleep as an example – a health issue for which the right Cannabis strains are a well-established treatment.
Between 50-70 million Americans, over half of them over 65, have chronic moderate to severe sleep problems, and over 80% of them say they are extremely dissatisfied with the sleeping “medicines” they use. Over 70% of the Google searches for the “sleep aid” category in 2016 were for “natural sleep aid”. Clearly there are a lot of people who need help sleeping, a huge number of them over 65, and they are out there searching for help sleeping, which means they haven’t found anything that works yet, and their searches say clearly that they want natural medicines, not pharmacological poisons.
Properly used, the right Cannabis strains can reduce or eliminate sleep issues for many if not most of those 50-70 million people with moderate to severe sleep problems, both those seniors being cared for and those who are independent.
It may be unnecessary to say this, but that is a whole hell of a lot of people looking for a single type of product – an effective natural sleep aid. Hello?
I Know This Subject Intimately
I have been a caregiver for long periods in my life, first as a single father for 5 years with an infant son, and then later, along with my wife, we cared first for my mother and then for her mother for another 20 years.
Let’s just say that I am quite familiar with every kind of diaper, infant and adult, and I have lost more than my share of arguments over who was going to finish their dinner before getting dessert.
I have also been a Cannabis grower, writer and researcher for over 50 years. I wrote the first book on Marijuana growing in 1969 and with my partner Lisle as co-author wrote the first book on cooking medical edibles with home-made Cannabis extracts in 1982.
So as I write this blog post I have the benefit of many years of experience both as a caregiver and also with the use of Cannabis Flowers as a natural medicine, a source of pleasure and healing, and a tool for insight and creativity.
What Many If Not Most Seniors Need
Seniors who need supportive care because of poor health or just plain age, as well as many completely independent seniors, share important quality of life issues including poor sleep, poor appetite, chronic pain, diminished memory, and loss of interest.
All of these conditions of old age, especially when combined with poor health, can be treated and in some instances healed with informed use of the right Cannabis strains.
Whether Cannabis Flowers are smoked using a traditional pipe or vaporized (my personal favorite) in a device, whether you use a fancy bong or a classic joint, whether they are used as a strawberry-flavored vapor oil extract or as a nice herbal tonic or tea, there are a lot of choices of pleasant and beneficial ways for any senior to use Cannabis and there are many good reasons for them to consider the already well-established benefits and proven safety of this natural medicine.
If you are in the Cannabis business, you need to be asking yourself how your products can help make life better for all these people.
Good, relevant information is critically important for caregivers, and seniors who are being cared for, as well as for independent seniors, and for families to come to terms with any issues that seniors in the family have that are preventing them from benefitting from this powerful, safe and effective natural medicine.
Caregivers should seek out “voices of experience” either among their personal networks or on the internet who can offer insights and practical tips for reluctant family members who should be, but are not contemplating the use of Cannabis as a natural medicine.
Among the important questions that Cannabis companies need to be ready to answer are:
Which Cannabis strains are best for helping with sleep, appetite, pain and discomfort, physical relaxation and mental alertness?
How can alternative Cannabis preparations be used to meet special physical needs and personal preferences?
What are some small but important ways that Cannabis can help recapture fading or lost pleasures – enjoying memories, socializing with others, listening to music, eating and drinking, watching movies and reading.
Caregivers deal every day with all the details that it takes to help keep the Cared-For person’s life running as smoothly as possible. It is truly remarkable that most of us somehow marshal the energy needed to give the person we are caring for far more than just maintenance – most caregivers somehow manage to provide close human contact, trust, warmth and caring.
Intelligent and sensitive use of Cannabis Flowers as a natural medicine can enable even more of that positive energy and spirit to flow between Caregiver and the person they are caring for, just as Cannabis Flowers also help treat pressing physical and emotional issues including sleep, appetite, pain and memory.
Creating innovative Cannabis-based and Cannabis-related products and services that meet these needs isn’t that difficult once you understand the interface between age, Cannabis, and quality of life.
Knowledge Is Power - Pass It On
When I was a child I moved around the world with my military family, always traveling by ship in the days before aircraft could cross oceans. I would spend hours on deck writing messages, sealing them with candle wax in bottles I snagged from somewhere on board, and then consigning them to the sea knowing in my heart that they were on their way to someone, somewhere who would read them. Sometime replies arrived at my grandparents’ house years later, and they would forward them to me wherever I was living. From these contacts I developed pen-pals who I stayed in touch with for many years. I was fortunate to develop, very early in my life, a sense of the network that invisibly but seamlessly connects us all. Thank you for picking up this message in a bottle, dear reader. We are all here together.
View all posts by panaceachronicles