The fourth quarter could be a boon for cannabis companies – if they’re prepared.
“Consumers are in a buying mindset during the holidays, you just have to show them the right offer,” noted marketing data firm Surfside in a new report, “The Season of Green 2022: Cannabis Holiday Sales Trendsand Strategies.”
The report highlights how the “Golden Quarter” between October and December can serve as a series of opportunities to attract customers similar to the 420 holiday.
Surfside analyzed average monthly cannabis transactions for the holiday season in 2021, which revealed a strong upward trend in sales:
Halloween weekend sales rose 48% versus any other day during its respective month.
Consumers typically look to share experiences and give gifts around this time. Surfside said that companies should make their campaigns relevant by personalizing ads based on what each customer segment wants during the holidays.
The report also shows how companies can plan out the campaigns in the days leading up to launches.
“In October, consumers prepare ahead of Halloween,” the report authors wrote. “(But) during November, they’re more likely to buy on the holidays, specifically on Green Wednesday and Black Friday.
“By December, consumers are buying the most cannabis they have all year.”
According to the 2021 sales data, Surfside found that operators sold 66% more edibles on the Friday before Halloween than any other day that month.
In November, customers tend to prepare for a long weekend and family reunions by stocking up on Green Wednesday before Thanksgiving. Others find the best deals on Black Friday, Surfside said.
Cyber Monday didn’t see the same surges in store-bought activity, but that drop off could serve as a hidden opportunity for delivery brands in a busy season.
By Christmas Eve, indoor-friendly products such as vapes and edibles saw a steep rise in sales as colder weather drove people to consume more inside.
“Whether it’s the holiday spirit, a break from work, or extra time to spend with friends and family, December sees the highest cannabis sales of the quarter,” with 10% higher sales versus October and November, the report said. “Consumers might be winding down, but cannabis sales pick up as the year comes to an end.”
Surfside also said that data shows consumers buy cannabis right before the long break for Christmas and again ahead of New Year’s Eve celebrations.
“Think about how to target the right audiences based on their buying habits, the trends laid out … and what deal might appeal the most to them during this time.”
The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis