Cannabis branding is lending itself to romantic milestones and Valentine's Day
Trend - Building on the overall growth of the industry and popularity of CBD/THC, cannabis companies are pivoting their marketing strategies to actively include Valentine's Day festivities. Many are inviting romance-inspired branding and products to their collections.
Insight - Novelty is a driving force in the purchasing decisions of many consumers and this is especially true when they are buying something as a gift. In this space, individuals are building off of the receiver's niche interests or opting-in for something that symbolizes the relationship with them. As a result, consumers are prioritizing specific products that offer a degree of novelty, as well as aesthetics.
Insight - Novelty is a driving force in the purchasing decisions of many consumers and this is especially true when they are buying something as a gift. In this space, individuals are building off of the receiver's niche interests or opting-in for something that symbolizes the relationship with them. As a result, consumers are prioritizing specific products that offer a degree of novelty, as well as aesthetics.
Workshop Question - How can your brand ease the gift-giving ritual during holidays like Valentine's Day?
Trend Themes
1. Cannabis-infused Products - Cannabis companies are creating products targeted for festive occasions such as Valentine's day that are both themed and involve cannabis-infused ingredients.
2. Novelty-based Purchases - Consumers are prioritizing specific products that offer novelty and aesthetics for gifts.
3. Collaborations - Collaborations between cannabis and non-cannabis companies are leveraging their expertise to create unique experiences for customers.
Industry Implications
1. Cannabis Industry - Cannabis businesses can create products for different festive occasions that also include cannabis-infused ingredients, since novelty is a driving force for the purchasing decisions of consumers.
2. Retail Industry - Retail businesses can collaborate with cannabis companies to create unique products or experiences that capture their customer's interest and increase engagement.
3. Consumer Goods Industry - Consumer goods companies can explore unique and themed collaborations with cannabis companies to create new products and target novel purchases by consumers.
