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Sunday, Oct 1, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

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‘Danksgiving’ survey indicates high holiday cannabis expenditure: Ayr & Suzy

The new survey showed that 65% of respondents will choose pot over alcohol consumption during the holidays

'Danksgiving' survey indicates high upcoming holiday cannabis expenditure: Ayr & Suzy
Photo via Ayr Wellness.

Cannabis products will be a must-have this year for Thanksgiving in the United States, according to a new survey.

On Tuesday, the Florida-based cannabis company Ayr Wellness Inc. (CSE: AYR.A) (OTCQX: AYRWF) announced the results of a new holiday survey conducted in partnership with the market researcher, Suzy.

A total of 1,600 Americans were surveyed in October regarding their pot consumption habits, beliefs and spending patterns for Thanksgiving and other holidays and Ayr says that cannabis is no longer a small luxury enjoyed by some with their turkey and mashed potatoes, but rather a “consumer staple” that Americans consistently spend money on.

Read more: High Times acquires Moxie’s cannabis assets for 1.3M

Read more: Puff Daddy joins cannabis industry, buys assets from Cresco Labs

The survey indicated that 24 per cent of respondents would spend over US$100 on pot merchandise, 34 per cent would be serving THC-infused food to their families and 65 per cent would choose cannabis over liquor to celebrate “Danksgiving.”

Ayr says that although Americans may have a tighter budget this year due to high inflation rates, cannabis expenditure in the U.S. continues to escalate. The company also says two out of three respondents indicated they would buy the same amount of cannabis as usual over the holidays and 24 per cent will spend even more than normal this year.

Cannabis consumers who took part in the survey will spend an average of US$112 on bud, edibles and other goods during the upcoming holidays.

The survey additionally found that 24 per cent of respondents said they were using cannabis on Thanksgiving to cope with family drama and 70 per cent are buying enough weed to share with friends and relatives.

According to Ayr, “Green Wednesday,” the day before Thanksgiving, is generally always the second highest-grossing day for cannabis sales in the U.S., even exceeding the amount of revenue generated on 4/20.

About 55 per cent of survey participants indicated they would be buying cannabis on Green Wednesday and 32 per cent said they would spend over US$100 that day.

“Cannabis is increasingly becoming an integral part of Americans’ holiday celebrations, with the average consumer anticipating they’ll spend US$100 or more on products to enjoy, gift or share with others,” said Jonathan Sandelman, Founder and CEO of Ayr Wellness.

Photo via Ayr Wellness.

 

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