The move comes as gifting has become more of a formalized trend in the cannabis industry—fourth quarter reportedly accounts for 60-70% of dispensary gift card sales—though rules vary from state to state.
Along with potential legal hurdles, gift givers should consider the implications of buying products for newbies or others with low tolerance, according to Emily Paxhia, managing director and co-founder of investment firm Poseidon.
“Come prepared to share information as well as sharing the product itself,” Paxhia told Adweek. “That’s the best way to give cannabis.”
Green Wednesday and Danksgiving
Vivid’s campaign kicks off a crucial period for the American legal cannabis market, which is expected to reach $33.6 billion in sales by year’s end.
One of the season’s most important days is Green Wednesday, the day before Thanksgiving—also known as Danksgiving—which became a weed holiday after retailers noticed that consumers were regularly stocking up on flower, tinctures, vapes and edibles before travel and family gatherings. It’s grown into the second-largest sales day annually, next to the weed extravaganza April 20, with single-day sales in 2022 topping $116 million, per Akerna.
“The industry loves Green Wednesday because it’s a huge vote of confidence—it says cannabis has a place at the table,” Paxhia said. “And it can be cross-generational, from boomers using it for health and wellness to their kids” using recreationally.
Sales on last year’s Green Wednesday increased 48% compared to a typical Wednesday in November, per Headset, with discrete categories like beverages, edibles and topicals spurring the most interest from buyers.
Retailers saw a 14% jump in average basket size, per Springbig, a martech firm that noted an overall 63% increase in sales on Green Wednesday compared to the rest of the month.
Embracing Green Wednesday’s momentum “is not just a trend, but a strategic imperative for retailers,” according to Jeff Harris, co-founder and CEO at Springbig.
The holiday “is more than a sales spike,” Harris told Adweek. “It’s an invitation to deepen your brand’s narrative and craft thoughtful campaigns that resonate with the spirit of this day and highlight the essence of cannabis culture and the value your brand brings to consumers.”
