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Marijuana and Thanksgiving: Holiday Max

As I make the rounds at family gatherings this Thanksgiving week, I’ve noticed a wide variety of cannabis-infused foods, including edibles, condiments, snacks, desserts, drinks…

It’s still a shock to me to witness firsthand how marijuana permeates the daily rituals of ordinary American life. The pot revolution really hit home this holiday week when a family member asked me, “Do you want an edible for your cherry pie?”

US dispensaries have reported an increase in cannabis sales in recent days. But it’s not just Thanksgiving. Other major holidays, such as the Fourth of July, Labor Day and Christmas, also saw increases in retail pot sales.

WATCH THIS VIDEO: Pot stocks are poised to ignite in 2023

Global market researchers Ayr Wellness and Suzy conducted an October 2022 survey of US marijuana users and found that 24% of respondents will spend $100 or more on cannabis this Thanksgiving.

The study, conducted last month with more than 1,600 Americans, also found that more than a third (34%) plan to serve THC-infused food and 65% will choose cannabis over alcohol for Thanksgiving festivities.

As statewide marijuana legalization proliferates, consumers are publicly and shamelessly including marijuana in their holiday celebrations.

do you have cannabis

I never thought I’d live to see cannabis become “family friendly” for holiday get-togethers, but that’s exactly what it is, in many cities and suburbs from coast to coast.

The first four days of cannabis sales in the US are:

  • April 20 (“Weed Day”): $111.8 million in 2021 and a record $154 million in 2022.
  • ŸThe day after Thanksgiving (“Black Friday”): $99 million in 2021.
  • ŸThe day before Thanksgiving, November 24 (“Green Wednesday”): $98.2 million in 2021.
  • Ÿ Day before Christmas Eve: $94 million in 2021.

This year’s Thanksgiving sales numbers are still being tabulated, but are expected to break records.

Watch this video: The market power of cannabis flower

Flower currently accounts for 44% of total cannabis sales (almost 50% if pre-rolls are added). It is reported that 83% of cannabis users have used flower, 64% have bought flower and 31% have bought a pre-roll.

“Flower” refers to the smoked leafy part of a cannabis plant. In the burgeoning marijuana industry, flowers are dominant.

Golden State Green Rush…

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California’s huge, fast-growing cannabis market is a compelling case study of these consumption trends.

California is the most populous state in the Union and has the largest legal and illicit cannabis market in the US. The Golden State legalized medical cannabis in 1996 and recreational use in 2016. Combined legal sales totaled nearly $5.9 billion in 2021 and are projected to reach $9.25 billion by 2030, according to New Frontier Data. Cannabis is also the state’s largest cash crop.

In 2021, legal flower sales in California on a weekly basis remained roughly consistent, with Fridays and Saturdays typically seeing the most flower transactions, accounting for 17% and 15% of the weekly total, respectively. Mondays and Tuesdays accounted for the lowest proportions of sales, each accounting for 13% of average weekly transactions.

The holidays witnessed the biggest spikes in sales. The Fourth of July, Thanksgiving and Christmas Eve each marked large increases for total flower sales and pre-roll transactions (see chart).

In a recent report, New Frontier stated:

“The increasing availability of value-added products and the fragmentation of usage make it increasingly difficult for flower brands to understand how consumers make purchasing decisions, identify which applications their floral products are best suited for, and align their marketing and positioning the brand to reflect applications and intentions that best align with the intended uses of the target audience.”

Editor’s note: As my article on pot and holidays makes clear, the legalization of marijuana is accelerating, setting up pot stocks for big gains in 2023.

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My new publication covers news and trends in the marijuana industry. I also regularly talk to industry insiders, whether they’re on Capitol Hill or in corporate suites or on Wall Street.

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John Persinos is editorial director Invest daily.

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