Ayr Wellness Inc. and Suzy, a global market research platform, conducted a survey of U.S. cannabis consumers that indicated 24% of respondents will spend $100 or more on cannabis for Thanksgiving.
Additionally, the study, conducted with more than 1,600 Americans in October, found more than a third (34%) are likely to serve THC-infused food, and 65% will choose cannabis over alcohol for their celebrations.
While Americans are feeling the stress of a tighter holiday budget due to rising inflation, cannabis spending is on the rise. Of respondents who said they’re purchasing cannabis, two out of three said they will purchase the same amount as usual during the holidays, and 24% said they will spend more on cannabis this year. On average, cannabis consumers anticipate spending $112 during the holidays.
“Cannabis is increasingly becoming an integral part of Americans’ holiday celebrations, with the average consumer anticipating they’ll spend $100 or more on products to enjoy, gift or share with others,” said Jonathan Sandelman, founder and CEO of Ayr. “As stigmas continue to break down, we look forward to the day when cannabis will be as synonymous as pumpkin pie for Thanksgiving.”
Other consumer insights include:
- 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.
- 54% say they will consume cannabis with friends on Thanksgiving.
- 24% say they are consuming cannabis on Thanksgiving to deal with family drama.
Green Wednesday, the day before Thanksgiving, has become the second highest-grossing cannabis sales day of each year, where consumers and patients stock up on cannabis for the long holiday weekend. When surveyed about their shopping plans, respondents said they will take advantage of Green Wednesday promotions this year.
- 55% of consumers plan to purchase or consume cannabis on Green Wednesday.
- 32% of those that are purchasing on Green Wednesday are spending $100 dollars or more.
- 40% of those buying on Green Wednesday are purchasing for themselves and gifting.
- 55% of those purchasing on Green Wednesday are buying flower.