As the holidays season approaches, and Thanksgiving is just a few days away, I can easily predict an increase in cannabis product sales from last year.
The cannabis retail market is still growing (and will continue to grow at least for another year) not only because new players are popping around every month, but because of the novelty aspect of it on consumers. It is new, it's exciting, and people want to try it. In addition, it is legal so "now we can".
Think about how exciting it is for people to be able to buy holiday gifts that are not your "usual" gifts but are cannabis-related products. On Mother's Day and Valentine's Day, sales of such products climbed dramatically (see tables from mjbizdaily.com below). Think about it, why buy a regular bottle of drink as a gift when you can buy a cannabis-infused drink, instead of a box of chocolate you can buy edibles, and so the list goes on. How exciting is that?
In order to predict life, you should look at the past. Every novelty product has its grace period, and cannabis products have their honeymoon period with consumers as we speak. Every reason is a good reason to buy a cannabis-related product as a gift - It's new, it's cool, it's exotic, it's sexy, it's legal. Another reason for the growth in sales over the holidays is the discounts. Not all consumers know about 4/20 and the discounts you can get on April 20, but everyone knows about the discounts you can get on holidays.
All financial and retail professionals in the USA can't wait to hear the holidays retail sales results in order to understand the shape of our economy. US holiday sales are a big factor for financials and it affects stocks heavily, for good or worse. This year the growth we will see in cannabis retail sales will be a substantial element of the US holiday sales.
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