holidays Archives - Green Market Report

Julie AitchesonJulie AitchesonJanuary 12, 2021
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5min5220

A consumer poll conducted by vertically integrated cannabis and hemp company Glass House Group, prior to the holidays found that a significant number of customers planned on giving the gift of cannabis. With more than 630 respondents citing flower, edibles, and pre-rolls as top choices for their holiday gifts, results suggested that cannabis gifting was among Christmas 2020’s hottest consumer trends. This pointed to the mainstreaming of cannabis and it turns out the polls were true.

According to data from Akerna (NASDAQ: KERN) the Christmas holiday period (12/18-12/24) generated $427 million. Typically, the Friday before Christmas is the biggest sales day of the holidays, but this year Christmas was on a Friday. So it was the Wednesday before Christmas that got the most significant bump in sales with a 76% increase in daily sales. With $87.3 million pouring in, the Wednesday before Christmas became the third-largest sales day of the year. It was only beaten by Green Wednesday which turned in $87.4 million.

However, neither day could top New Year’s Eve which topped the charts at $89.4 million in sales, easily surpassing Green Wednesday and becoming the biggest cannabis sales day of the year.

“We were pleasantly surprised to see New Year’s Eve outperform Christmas,” said James Ahrendt, Business Intelligence, Akerna. “Overall, the last two weeks of the year ended up being some of the most profitable weeks for retail cannabis in 2020.”

Glass House’s survey found that a majority of poll respondents (64.2%) planned to reduce alcohol consumption with cannabis during the holidays, with 67.4% predicting that they would replace alcohol with cannabis to a greater extent than they did in 2019. That would explain the jump for New Year’s Eve. 

The heightened focus on health and wellness concerns prompted by the pandemic is also a contributing factor, not just through attempts to reduce alcohol consumption but to manage holiday stress (53.4% of respondents) and relieve pain (50.3%).  The number one reason for cannabis consumption given was to get a better night’s sleep, followed by “general wellness” with “just for fun” coming in third.

Glass House Group Co-Founder, Chairman, and CEO Kyle Kazan believed that this poll reflected a paradigm shift towards cannabis as a mainstream choice for consumers. He said, “As we make our way into 2021, we will look forward to rolling out new products from Glass House Farms, bringing our customers new retail experiences and continuing to provide new insights into the fastest-growing consumer movement our country has seen in nearly a century.”

Additional Insights From Akerna (12/18-12/31)

Average Basket Size

  • Adult-use – $72
  • Medical – $124

Sales by Product Category

  • Flower – 46%
  • Cartridge/Pens – 32%
  • Concentrates – 13%
  • Infused Edibles – 7.5%
  • Other – 1.5%

Sales by Gender

  • Male – 62%
  • Female – 38%

Sales by Age

  • Under 30 – 28%
  • 30-40 –30%
  • 40-50 – 20%
  • 50-60 –12%
  • Over 60 – 10%

Edibles

  • There were 48% higher sales per store on Christmas in 2020 compared to 2019, and 52% higher sales per store on New Year’s Eve 2020 compared to 2019
  • Consumers bought over 2X as many edibles on NYE 2020 in comparison to 2019.

 

If you are suffering from nausea or pain, you should choose indica strains if you plan to grow cannabis indoor!


Julie AitchesonJulie AitchesonDecember 10, 2020
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6min2720

The holiday season is famous for Yuletide cheer, peppermint lattes, heated family discussions around a high-calorie spread, and trolling slushy streets and the internet for the gift that says “I see you and I care” more loudly than “This was on clearance.” But let’s face it, the holidays are also famous for the booze: huge vats of foamy eggnog potent enough to pin your Aunt Nancy to the couch, spiked hot chocolate to ward off the winter chill, and round after round of craft cocktail creations to keep all of those Zoom parties merry and bright when the video keeps freezing and half of the crew can’t figure out how to unmute. For those who imbibe, holiday drinking can take a toll and when that holiday hangover comes calling, more than a few revelers will be reaching for a cannabis cure.

Dehydration, headache, nausea, vomiting, lethargy, and lack of concentration are all hallmarks of the garden variety hangover. According to a study published in the British Journal of Pharmacology, cannabis might be the ideal treatment for two of these ailments in particular. “Considerable evidence demonstrates that manipulation of the endocannabinoid system regulates nausea and vomiting in humans and other animals”. This manipulation, in the context of this study, refers to the consumption of cannabinoids in order to inhibit nausea and vomiting that occurs “in response to a toxic challenge.”

A study from Skaggs School of Pharmacy and Pharmaceutical Sciences at the University of Colorado speaks to cannabis’s efficacy in treating pain related to headaches and migraines, with inhaled forms proving more effective in treating acute symptoms. According to the study, the active ingredients in cannabis are able to target pain receptors at the base of the spinal cord, which results in an enhancement of “the natural system for pain management in the body.” What’s more, marijuana can also stimulate appetite by turning off hormone pathways that make us feel full, which can help hangover sufferers get some food back into their stomachs and reduce acidity.

If a smoke or vape is your speed, CBD:THC strains like Harlequin, Dancehall, and Sour Tsunami are known hangover helpers. Don’t feel like lighting up to beat off those boozy blahs? Relief can still be yours, with some forward-thinking brands offering up alternative forms of hangover relief for the holidays and beyond. Rhythm, an infused CBD company focused on drinks that feature adaptogens and superfoods as well as CBD, has developed Rhythm Recover, a Lemon Ginger seltzer infused with 15mg of hemp extract and highly bioavailable turmeric extract for an anti-inflammatory boost. For headache-healing hydration without the fizz, a CBD-infused coconut water such as that offered by Vita Coco might be just the thing. The coffee cure is a traditional favorite but can leave you feeling twice as exhausted by the end of the day.  Crappy’s Feel Better’s Hangover Helper chewable tablets with  CBD, CBG, and CBN plus recovery-focused terpenes keep the caffeine crash at bay. 

So happy holidays to all, and if just saying “no” isn’t on your to-do list this holiday season, cannabis might make a welcome addition to your revelry recovery agenda.

 


StaffStaffNovember 25, 2020
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8min4190

The holiday shopping season is the holy grail for consumer brands, particularly for those looking to recapture markets lost during the pandemic. However, this season is also the most competitive when it comes to marketing, and it can be a challenge to break through the chatter without breaking the bank. 

For CBD brands, the added difficulty is to resonate with target audiences while staying squarely within regulations. However, with the right digital strategy, it is possible to optimize budgets and achieve meaningful results.

Holiday marketing in a pandemic

Already a growing trend, eCommerce has become the new normal during the COVID-19 pandemic. Most Americans are stuck at home and spending more time on devices, and nearly two-thirds are expecting to change their buying habits by the end of the pandemic. 

To capture these audiences and convert those who are open to new brand preferences, it’s important to keep campaigns running and maintain a full sales funnel, with messaging, marketing tactics, and a customer experience that is sensitive and tailored to the pandemic and to the holiday season. 

Meanwhile, brands should not lose focus on their loyal base. Remind customers what makes your brand special with regular communication and messaging that conveys a solid grasp on current events and emphasizes gratitude for their continued patronage. Building a positive, emotional relationship with customers is one of the strongest moves that businesses can make during this difficult time.

Businesses should also keep in mind that Q1 has become an important shopping season in itself, and extending campaigns into the beginning of 2021 can bring significant returns. Most platforms allow for 180 days of audience data storage, providing a perfect opportunity to retarget and remarket when costs per impression are much lower. 

CBD marketing 101

Given the added hurdles of marketing CBD products, success during the holidays will depend on a clear understanding of where you can advertise, where you can’t, and where it may not be worth it in the first place. 

Most importantly, CBD brands will run into problems advertising on Facebook and Google. While it was reported that Facebook lifted their ban on CBD ads, in practice compliance with their rules can be very difficult, with the rules themselves changing quickly. And though Google does seem to be trending in the right direction, neither platform is worth the risk at this time. 

CBD marketers can also make mistakes when it comes to targeting. While there is overlap with THC audiences, keep in mind that consumers use the two products for very different reasons. Rather than promoting CBD to the same audiences that use recreational THC, fine tune targeting to focus on fitness and health management audiences. 

Despite these pitfalls, marketers can find more fertile ground with programmatic, social, and search marketing. 

  1. Programmatic 

When it comes to CBD marketing, programmatic benefits from much easier compliance and limited regulation compared to other forms of digital advertising. With a multichannel approach, programmatic empowers marketers to find nearly anyone across platforms. Focus on leveraging multiple ad types, including display, native, programmatic audio, preroll, and connected TV, to capture the full benefits of programmatic campaigns. 

       2. Search

While CBD brands are not able to use paid search, organic search will be a cornerstone of effective digital marketing and lead-generation. Consider content marketing at each stage of the funnel, and when structuring campaigns consider three rules: Who do you want to reach? What do you want to say? And what do you want audiences to do?

When creating content, high-quality educational material is the gold standard. Focus on differentiators such as price or quality, and remember that great content itself can be a differentiator.

        3. Social

Social compliance can be incredibly challenging – however, Snapchat may be one worth pursuing. Though it’s technically complicated to market CBD on the platform, when done correctly these ads can have an impressive impact, with as much as fifteen to seventeen dollar return on ad spend. Snapchat also has a number of new tools for advertisers, such as AR/VR, brand profiles, dynamic ads, and the Snapchat audience network.

No effective marketing campaign is complete without a strategy to meaningfully track success. Keep a close eye on the actual dollars and cents being spent on advertising — and how they translate into ROAs — as well as metrics such as attribution and spend from each channel. 

Meanwhile, keep in mind that CBD customers can be much more loyal than most other CPG categories. Metrics such as predictive lifetime value, cost of new email sign-ups, and net new people are efficient means to gather and retain a loyal base. 

Holiday marketing is about working smarter, not harder. This is doubly true for CBD brands, who can tie themselves into knots solving compliance problems and never get a solid foot out the door. Use this as a guide to help simplify holiday marketing during COVID-19, and spend ad budgets with confidence. 

Scott Waldman is a Senior Account Executive at digital marketing agency Adtaxi. A native Californian, he graduated from the University of California, Los Angeles. Prior to joining Adtaxi, Scott has dedicated himself to numerous industries focused on sales & marketing pursuits for various verticals over the last 18 years including e-commerce, CBD, Consumer Electronics, Education, Health & Beauty, Automotive, Tech, Brick & Mortar retail, and numerous others. Scott enjoys travel and cooking in his spare time and believes that helping other people is the key to accomplishing your goals.


Anne-Marie FischerAnne-Marie FischerDecember 14, 2018
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10min15400

Edibles and microdosing reign supreme in pre-holiday cannabis sales

Despite the fact that 45% of Americans would rather skip the holiday season altogether, the holiday season is yet upon us, giving most of us no choice but to participate either willingly or unwillingly in the hustle and bustle of the month.

ThinkFinance reported that 69% of Americans see the holiday time as incredibly stressful, citing lack of time, lack of money, and the pressure to buy and give gifts as specific stressors.

This is where the legal cannabis industry steps in, giving consumers cannabis-based options other than spiked eggnog to help take the edge off the stress of the season.

Convenience is Key

According to Headset and Baker, the week before Christmas is “the biggest time of the year” for cannabis retail, with average weekly sales increasing by 11.2% and the average basket value (the total of what individuals purchase) increasing by 5%.

During this time of year, beverages, edibles, and pre-rolls become the most popular products of choice for cannabis consumers prepping for the holiday.

Jamie Garzot, founder and CEO of Synergy and 530 Cannabis in Shasta County, CA can testify to this. Products like bite-sized edibles such as cannabis-infused mints, honey sticks, and gummies are flying off the shelves of her cannabis retail spaces. According to Garzot, microdosed edibles are gaining popularity as more embrace this consumption trend around the hectic holidays. Concentrates are also up in sales since Halloween.

Taking the Stress out of Gift Giving

Cannabis retailers can use creative strategies to help address some of the above-mentioned stressors, including gift giving. Creating gift boxes or gift baskets with various samples can help reduce the stress of gift-giving (especially now that it’s legal to give the gift of cannabis in places like California) while enticing new customers into the store.

Gift guides are a popular way for cannabis retailers to offer special deals while building awareness around their available products. These resources give customers, who usually start looking at their holiday gift options early in the season, a plan for their gift buying while using the opportunity to engage them in the post-Christmas sales.

Gift Recommendations from Green Market Report

We’ve kept our ears to the ground all year to understand what consumers are looking for while witnessing hundreds of new products hit the market to enhance the cannabis experience.

Here is Green Market Report’s list of some of the cannabis-themed gifts that are guaranteed to please the cannabis consumer in your life:

Green Dot Labs, Colorado’s premier and longest-running cannabis extraction brand, is releasing Black Label Experience Tasting Flights, each featuring a pair of uncut .5 ML Black Label Full Spectrum Extract (FSE) Cartridges that have been carefully curated to highlight vivid and unique tasting notes from Green Dot Labs’ unparalleled genetic library of 150-plus rare and exotic varietals.

Jane West CBD Coffee is a wonderful gift for those looking for an easy and nourishing way to add the health and wellness benefits of CBD to their daily lives. Developed in collaboration with SteepFuze, a Boulder-based pioneer in CBD-infused coffee and tea, Jane West CBD Coffee combines responsibly sourced small-batch coffee beans with full-spectrum CBD derived from Colorado-grown organic hemp.

Bhang‘s Ice Chocolate bar is the perfect way to start your holidays off with a Bhang. This cannabis-infused chocolate has a refreshing mint flavor, derived from natural peppermint oils. Bhang’s award-winning chef and Bhang CEO, Scott Van Rixel, created this chocolate to appeal to all the senses. Unlike competitors in the space, Bhang tastes like chocolate – not cannabis. Available in compliant packaging, a variety of flavors and at an excellent price point with Fair Trade, sustainable-sourced cacao.

Lowell Herb Co. is best known for their pre-roll packs as the #1 pre-roll in CA, but their line also includes sleek jars of vacuum-sealed flower and lifestyle merchandise. For the holidays, Lowell Herb Co. is offering beautifully curated tasting sets and the ultimate rolling kit to satisfy every gifting need. All the flower at Lowell Herb Co. is 100% organically-grown and pesticide-free, cultivated in greenhouses and triple-lab-tested ensuring only top quality all while remaining affordable for everyone.

Ideal for gifting your favorite cannabis loving friend or hanging up at your next holiday party, this product is sure to make a statement. Zoma Cannabis introduces Mistletoke, mistletoe with a cannabis twist. The limited edition holiday décor features boughs of mistletoe intertwined with three perfectly trimmed stems of Zoma Envirocann organic cannabis. More than a decoration, Mistletoke is the gift that will definitely heighten your holiday spirits! The best thing is, the buds can be broken off and smoked following the holiday season.

Relax and Enjoy!

While the holiday season may be full of stress, it’s also a time to put on the brakes, indulge, and find ways to kick back and relax. Do your planning early, and take advantage of all the awesome offers that existing and emerging cannabis businesses have to offer like these ideas above. Skip the booze and hangovers, and find your relaxation (and fun!) in cannabis.



About Us

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


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