‘Danksgiving’ Cannabis Sales Momentum Rise Lead By Shifting Consumer Attitudes And New Legal States
In the days leading up to Thanksgiving, one peculiar trend is making headlines in many cannabis-legal states across the Union. Green Wednesday, also dubbed the ‘Black Friday of Cannabis’, has become a significant event, with sales reaching impressive figures. Despite not being as entrenched as alcohol in vice partakings during the holiday, ‘Danksgiving‘ is thriving as the generational shift towards cannabis consumption among the younger generations gathers pace.
According to research conducted by the firm Arcana, last year saw a staggering $116.4 million in cannabis sales on the day preceding Thanksgiving, marking a 16% increase from 2021. This year, that total should only rise as four new legal states—Delaware, Maryland, Minnesota and Missouri—have arrived opened their doors to adult-use sales.
Ohioans also voted to legalize adult-use this month, although legal sales will not go live until 2024.
Historically, Green Wednesday (the day preceding Thanksgiving) and Black Friday have consistently contributed to substantial increases in sales. According to BDSA data, these days have proven to be the most lucrative for cannabis sales, rivaling even the renowned 4/20 holiday.
Figures from November 2022 reveal the extent of this surge, with daily dollar sales on both Green Wednesday and Black Friday soaring to levels 66% higher than the average daily sales for the entire month. This data emphasizes the pivotal role that the Thanksgiving period plays in driving substantial boosts in the cannabis market.
Ayr Wellness Study Shows Thanksgiving Cannabis Sales On The Upswing
In October 2022, tier-1 U.S. multistate operator Ayr Wellness conducted a survey of U.S. cannabis consumers focusing on domestic consumer purchasing plans for the Thanksgiving holidays. Among the noteworthy takeaways: the survey highlighted a growing inclination towards the mainstreaming of cannabis consumption, with 34% of participants indicating a likelihood to incorporate THC-infused food into their Thanksgiving celebrations.
Furthermore, the findings of over 1,600 respondents revealed that 65% of respondents plan to opt for cannabis over alcohol, indicating a shift in preferences for their Danksgiving festivities. These results underscore a significant transformation in the perception of cannabis, no longer relegated to a mere luxury. but increasingly regarded as a staple in the consumer habits of Americans willing to invest regularly in this aspect of their holiday experiences.
Additionally, 54% of respondents express their intention to consume cannabis in the company of friends on Thanksgiving, underlining the social aspect associated with cannabis use during the holiday season. And on average, cannabis consumers anticipate spending $112 during the holidays overall.
Notable highlights of the study—conducted by research firm Suzy—are indicated as follows:
- 90% of cannabis consumers plan to purchase the same amount of cannabis or more than they usually do for this holiday season
- 70% of those stocking up are purchasing cannabis to ensure they have enough to share with friends, family and chosen family
- 24% of cannabis consumers say they will spend $100 or more for Thanksgiving
- 34% of cannabis consumers are likely to serve infused food on Thanksgiving
- Of people who consume cannabis on Thanksgiving, 65% said it will replace alcohol
- 54% say they will consume cannabis with friends on Thanksgiving
- 24% say they are consuming cannabis on Thanksgiving to deal with family drama
As the cannabis market continues to evolve and gain acceptance, cannabis Danksgiving sales are on a path of sustained upward momentum for the foreseeable future. As evidenced by the Ayr Wellness study and overall consumer trends, the evidence supports continued favorability pertaining to consumer behaviors and economic trends throughout legal states in the Union.