December 15, 2022 | Posted in: E-Commerce
Our friends at Surfside put together this comprehensive guide for cannabis dispensaries going into the holiday season. They looked at Black Friday sales trends, holiday consumer trends, sales data for the months leading into the season, and the impact of “getting together” on cannabis sales. Learn how to activate the audiences that matter with your outreach campaigns and finish Q4 with strong sales!
The holiday season is considered the “Golden Quarter” for many businesses and the cannabis industry is no different. To understand holiday purchase behavior, Surfside analyzed millions of cannabis transactions from October through December 2021, focusing on how consumers purchased last year for Halloween, Green Wednesday, and the weeks leading up to New Year’s Eve.
The Golden Quarter can become a series of sales opportunities similar to 4/20 if you’re prepared. Consumers are in a buying mindset during the holidays — you just have to show them the right offer.
In The Season of Green 2022, you’ll learn:
*Source: National Retail Federation
Understanding the Holiday Consumer
In October, consumers prepare ahead of Halloween. 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.
The holiday season is focused on sharing experiences and giving gifts. When you reach out to consumers this year, make your ad campaign relevant by personalizing your ads based on what each customer segment wants during the holidays.
+48% Friday of Halloween Weekend
+72% Green Wednesday
+62% Black Friday
+40% Christmas Eve
+54% New Year’s Eve
Cannabis Sales Trends in October
Last year, Halloween landed on Sunday, October 31. Our data showed that cannabis consumers started to prepare for the holiday by buying on Friday, October 29 and continued to buy all Hall’o’weekend long.
+48% Higher Sales
+21% Higher Sales
+66% on the Friday before Halloween
Cannabis Sales Trends in November
If Thanksgiving is about getting together with family and friends, Green Wednesday is about getting ready to spend time with them. Cannabis consumers prepare for vacation and long weekends by stocking up on cannabis on Green Wednesday. Others find the best deals on Black Friday. Our data, however, showed a missing link in the cannabis industry: Cyber Monday.
As November approaches, start building a strategy based on how consumers are going to spend their time and what they want from each purchase.
Cannabis sales drop on Cyber Monday. This could be a hidden opportunity for delivery brands.
+72% Higher Sales
+62% Higher Sales
-1.86% Sales Decline
Cannabis Sales Trends in December
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 – December cannabis sales are 10% higher compared to October and November. Consumers might be winding down, but cannabis sales pick up as the year comes to an end.
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 above, and what deal might appeal the most to them during this time.
On December 23, sales spike by:
+63%
Vapes
+64%
Edibles
*Compared to 2021 Monthly Category Average
+29% Higher sales than December 1-15
+56% Higher sales vs monthly average
+40% Higher sales on Christmas Eve
+54% Higher sales vs monthly average
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