Millennials’ love of staying in, canceling plans, taking baths, and wearing sheet masks has become so ubiquitous that it has been parodied in memes, on TV, and there are even whole newsletters around it. Consumer trend experts tell us that the popularity of “self-care” is correlated to rising anxiety levels, ever-increasing busyness and the “prestige” it can lend, and a focus on wellness and mindfulness. However, self-care isn’t just about treating yourself to a home spa night. According to Psychology Today, “self-care is a continuous process of proactively considering and tending to your needs and maintaining your wellness.” As self-care has become trendier, so has CBD as a tool in the self-care toolbox for many consumers.
According to our CBD consumer insights, nearly 1 in 4 (22%) CBD users are “stressed-out Millennials." This group on average is middle class, likely straight, and single, and they’re more likely to be women. As the name suggests, 87% of them report having anxiety, 51% report having depression, and 29% suffer from insomnia. They are using CBD to seek relief from these issues, as well as relaxation and overall wellbeing. Desired effect is the most important attribute to them when choosing a product. They’re using CBD as a way to care for themselves.
Unsurprisingly, 36% of stressed-out Millennials are using CBD 5 or more times per week, with 63% using CBD at least once per week. Most are relatively new to the CBD category—65% have just started using CBD in the last year—which could be explained by its trendiness in the last 12 months.
The stressed-out Millennial group will likely grow over the next few years, as Millennials grow into higher ranking (and more stressful) roles at work, continue to grow their families, and start to take care of aging Boomer parents. Busyness and anxiety are unlikely to go away, but CBD could be there to help them in their self-care journeys.