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Cannabis Consumer Survey: Q3 2020

Hypur commissioned a 3rd party survey of cannabis consumers about their purchase habits and payment preferences during Q3 2020.

Below are the results of the cannabis payments survey. The results show that consumers increasingly prefer an electronic form of secure payments for dispensaries.

Results of similar cannabis consumer surveys:

Q1: Do you generally carry cash and use it for most purchases?

Options	Answers (%)
Yes	60.5%
No	15%
Depends on the purchase	24.5%

Q2: How has your cash use changed throughout 2020?

Answers	Answers (%)
Use cash more often	31.25%
Use cash less often	47.25%
Nothing has changed	21.5%

Q3: If your cash usage has changed, tell us why. (select all that apply)

Answers	Respondents (%)	Answers (%)
COVID concerns (getting/spreading the virus)	51.25%	24.43%
COVID changes (retailers not accepting cash)	39.25%	18.71%
Retailers now offering contactless payment methods	27.75%	13.23%
Using credit cards more often	27.75%	13.23%
Privacy concerns	12.25%	5.84%
Worry about loss or theft	15.75%	7.51%
Discovered a different form of payment (like a mobile app or cryptocurrency)	9.75%	4.65%
Cash usage has not changed	24.25%	11.56%
Other	1.75%	0.83%

Q4: If you still prefer to use cash, tell us why. (select all that apply)

Answers	Respondents (%)	Answers (%)
I'm paid in cash	22.75%	12.83%
Convenience	45%	25.39%
Privacy Concerns	27%	15.23%
I use cash for everything	22%	12.41%
Budgeting reasons	29%	16.36%
I don't have a bank account	6.25%	3.53%
I don't prefer to use cash	23.25%	13.12%
Other	2%	1.13%

Q5: Where do you purchase cannabis? (select all that apply)

Answers	Respondents (%)	Answers (%)
In-store	67.75%	50.09%
Order-ahead and pickup	34%	25.14%
Delivery	29%	21.44%
Other	4.5%	3.33%

Q6: How has your choice of where to purchase changed throughout 2020? (select all that apply)

Answers	Respondents (%)	Answers (%)
Go in-store more	30.25%	23.68%
Use order-ahead and pickup more	38.25%	29.94%
Order delivery more	25.75%	27.98%
Nothing has changed	22.5%	17.61%
Other	1%	0.78%

Q7: Which cannabis marketplace options do you recognize? (select all that apply)

Answers	Respondents (%)	Answers (%)
Caliva	20%	7.99%
Dutchie	17.55%	6.99%
Eaze	21%	8.39%
Grassdoor	31.5%	12.99%
Jane	17.25%	6.89%
Leafly	37%	14.79%
Nice Guys Delivery	18.5%	7.39%
Nugg	15.25%	6.09%
SpeedWeed	22.5%	8.99%
Weedmaps	33%	13.19%
None of the above	14%	5.59%
Other	1.75%	0.7%

Q8: Do you use cash to pay for cannabis?

Answers	Answers (%)
Yes	63.5%
No	14%
Depends on the dispensary	22.5%

Q9: Which cannabis payment options do you recognize? (select all that apply)

Answers	Respondents (%)	Answers (%)
Alt36	13%	7.8%
CanPay	29.5%	17.69%
Hypur	11.75%	7.05%
Mtrac	10.75%	6.45%
Nature Pay	33.25%	19.94%
Paytender	29.5%	17.69%
None of the above	37.25%	22.34%
Other	1.75%	1.05%

Q10: Which options can you use to pay for cannabis at the dispensaries you purchase from? (select all that apply)

Answers	Respondents (%)	Answers (%)
Cash	78.5%	34.43%
Credit card	53.5%	23.46%
Cryptocurrency (like Alt36)	10.25%	4.5%
Debit card	48.75%	21.38%
Mobile app (like Hypur or CanPay)	18.25%	8%
Prepaid wallet (like Paytender)	13.25%	5.81%
Reverse ATM	4.5%	1.97%
Other	1%	0.44%

Q11: Rank in order of preference: Which options would you like to use to pay for cannabis?

Answers	1	2	3	4	5	6	7	Mean
Cash	187	34	37	28	23	32	59	3
Credit card	64	121	48	35	42	46	44	3.46
Cryptocurrency (like Alt36)	25	34	56	42	49	65	129	4.92
Debit card	50	98	94	55	40	37	26	3.38
Mobile app (like Hypur or CanPay)	13	42	69	110	85	59	22	4.19
Prepaid wallet (like Paytender)	19	46	68	78	84	77	28	4.26
Reverse ATM	42	25	28	52	77	84	92	4.79

Q12: Rank in order of importance: What makes you choose one form of payment for cannabis over another?

Answers	1	2	3	4	5	6	7	8	9	Mean
Convenience	211	24	28	19	19	11	28	20	40	3.24
I prefer to use an app or technology solution	19	67	36	49	37	45	38	44	65	5.29
No convenience fees	34	106	96	34	33	33	23	26	15	3.84
No transaction limits	13	48	70	81	35	54	38	32	29	4.81
Not a single use solution (something you can use anywhere)	16	17	38	64	98	54	44	42	27	5.3
Privacy	33	33	34	64	70	76	38	31	21	4.92
Reward/loyalty points	20	22	44	45	41	43	103	43	39	5.64
Safety	15	50	31	31	38	47	51	104	33	5.73
Touchless option	39	33	23	13	29	37	37	58	131	6.24

Q13: If a particular payment method would help to grow and legitimize the legal cannabis market, would you be likely to change your payment habits in order to use it?

Answers	Answers (%)
Yes	84%
No	16%

Q14: Do you currently earn reward or loyalty points for cannabis purchases where you buy product?

Answers	Answers (%)
Yes	45%
No	42%
I'm not sure	11.25%

Q15: Rank in order of importance: What rewards do you like to receive when using a loyalty program?

Answers	1	2	3	4	5	6	7	8	9	10	Mean
Birthday / Holiday gifts	106	41	21	33	29	21	26	36	35	52	4.9
Community connection	24	45	32	41	29	32	27	31	60	79	6.2
Discounts	105	91	65	26	16	15	22	21	17	22	3.63
Early access / Exclusive events	12	44	58	54	34	45	45	51	29	18	5.46
Feeling valued by dispensary or program operator	10	23	61	49	66	56	36	49	28	22	5.54
Freebies	40	44	52	62	58	60	24	29	15	16	4.69
Money back	45	40	37	51	54	49	66	23	23	12	4.94
Trackable milestones	8	21	22	28	37	37	60	78	59	50	6.78
VIP earning status	15	27	27	31	41	44	55	46	76	38	6.4
VIP treatment (reduced wait times, priority support/ordering)	35	24	25	25	36	41	39	36	48	91	6.47

Q16: How and where do you find out about loyalty programs/coupons? (select all that apply)

Answers	Respondents (%)	Answers (%)
Friends and family	60.25%	26.34%
News articles I read	27.25%	11.91%
Newsletter I subscribe to	23.5%	10.27%
Retailers I purchase from	44%	19.23%
Social media accounts I follow	34.5%	15.08%
Social media ads	29%	12.68%
None of the above	9.75%	4.26%
Other	0.5%	0.22%

Q17: Rank in order of preference: How do you like to earn reward points?

Answers	1	2	3	4	5	6	Mean
Dollars spent	187	75	29	24	34	51	2.49
Every time I purchase	83	162	49	42	44	20	2.66
Following social media accounts	21	47	117	81	61	73	3.83
Inviting friends	31	36	73	99	97	64	3.97
Leaving a review	28	48	85	90	96	53	3.84
Sharing on social media	50	32	47	64	68	139	4.21

Q18: Where do you get cannabis-related news? (select all that apply)

Answers	Respondents (%)	Answers (%)
Business Insider	25.5%	10.16%
Cheddar	21%	8.37%
Forbes	26.25%	10.46%
Fresh Toast	16%	6.37%
High Times	36.5%	14.54%
Leafly	28.25%	11.25%
Local/regional news	22.5%	8.96%
Social media (Facebook, Twitter, etc)	47.25%	18.82%
TechCrunch	8.75%	3.49%
WeedWeek	12.75%	5.08%
Other	6.25%	2.49%