The 2020 holiday season is likely to be one of the most bizarre holiday seasons in recent history. Many Americans have made the decision not to travel to see family and friends or hold holiday gatherings in order to help curb the spread of COVID-19. Even the 2020 holiday shopping season has changed in nature.
According to an NBC News report, “This year, stores started promoting holiday sales as far back as October, and made “Black Friday” sale prices available well in advance of the Thanksgiving holiday, while Amazon switched its Prime Day shopping event from July to October. The pandemic also seems to have killed off the contentious practice of opening stores on Thanksgiving Day itself, with most major retail chains announcing 5 a.m. Friday opening hours.”
However, even with a decrease in overall retail shopping in brick and mortar stores, the cannabis industry is expecting a robust holiday shopping season. A recent Forbes article stated, “The cannabis industry has been quite fortunate in the face of COVID-19, deemed an “essential service” which has been a boon in an otherwise challenging year. Even with all the safety restrictions in place, cannabis companies across the country are reporting substantial Green Wednesday spikes in sales— upwards of 350%.” “Green Wednesday” is the nomenclature that has been attached to the Wednesday before Thanksgiving.
This kind of boom in sales is also expected for December sales, according to another Forbes article. “Mitch Baruchowitz, managing partner at Merida Capital Holdings, a New York-based private equity firm working in the sector, believes more cannabis products will be sold this holiday season than any before. Several diverse factors contribute he said. Acceptance of cannabis has continued to grow along with legalization, evidenced by recent ballot wins in both right and left-leaning states. That opens new markets to millions of potential consumers. Cannabis production and sales were deemed essential businesses in the pandemic, keeping sales from dropping. And cannabis purchases do have some seasonality, with holiday purchases growing over the past few years according to Headset, an industry research group.
“To meet holiday demand, some dispensaries are creating specialty products and holiday bundles that specifically target consumers looking for limited edition items or gifts Baruchowitz said.”
With holiday shopping now in full swing, sellers of retail cannabis products would be wise to take advantage of the increased interest in marijuana products. Product quality, attractive packaging, and good prices will do a long way to gaining new and returning customers who are looking for a unique gift for the holidays.