Cannabis retail expects strong boost from Green Wednesday

Summer is often considered the best season for cannabis sales, but the end of the year is no exception. Multiple dispensary brands said Green Market Report this activity typically jumps 10% to 30% between the week before Thanksgiving and the start of the New Year.

And it all starts on the eve of Thanksgiving, commonly known as Green Wednesday.

Data provided by Fyllo indicates that the fourth quarter is the highest retail sales period for dispensaries, with an increase of 8% compared to other quarters. Fyllo reports that sales typically increase 5% in November and 11% in December.

“We expect sales to begin to spike at Thanksgiving and then decline again through the third week of December, with Christmas week providing one of the strongest weeks of the year for operators,” a Fyllo representative said.

Green Wednesday Boost

In some states, the increase in sales on Green Wednesday can be massive. Some of the most notable data points from cannabis analytics company BDSA include:

  • In California, Thanksgiving Eve is the best-selling day in November, averaging about 55% more sales than non-holidays that month.
  • In Missouri, 2021 Green Wednesday medical sales nearly doubled daily sales averages for non-holidays that month.
  • In Illinois, Black Friday sales surpassed the holidays in November, with sales up about 70% that day.
  • Edibles saw the biggest jump in sales, with purchases of Green Wednesday edibles rising about 75% and 70% in California and Illinois, respectively.

“The Thanksgiving Weed Week phenomenon is very real,” said Victor Bindi, Director of Sales at Fluent Cannabis. In 2021, Fluent’s week-over-week totals increased 16.7% the week before Thanksgiving and during the holiday week, to a total of $2.6 million.

Dennis Curran, chief operating officer of multistate operations Acreage Holdings, said holiday momentum has grown in recent years as consumers take advantage of pre-Thanksgiving Day deals. It reports that Acreage Green Wednesday 2021 retail sales increased 33% from the previous four Wednesdays.

That said, Acreage’s Black Friday saw a drop in sales compared to previous years, though Curran didn’t elaborate on the extent of the drop.

Curran expects another strong green Wednesday despite current market concerns.

“With proper preparation, retailers can maximize their potential sales growth without diminishing their bottom line,” he said, citing targeted discounts and loyalty programs as examples.

Meg Sanders, CEO of Canna Provisions, a Massachusetts dual-location brand, agreed. She said: “Green Wednesday sales are basically double what they normally are for us, and this whole week is a big bump until Thanksgiving.”

This selling momentum also lasts through Christmas, Sanders said.

Sales strategies

Jesse Henry, CEO of Sunset Pipeline, a San Francisco-based dispensary and delivery service, said November holiday sales mark a surge that continues through the new year. But holiday shopping in general doesn’t always mean increased sales or at least foot traffic.

“Stores that are near major malls actually have slower days because parking is really difficult, and people who need cannabis stay out of traffic,” he said. .

To combat the problem, Sunset is looking beyond Wednesday, offering Green Week deals starting the Monday before Thanksgiving to combat the problem.

New York medical dispensary chain Etain is also focusing on the weeklong promotion, maintaining consistent discounts Nov. 19-26, according to chief operating officer Hillary Peckham. The company offers additional discounts on particular holidays.

“During the holiday season, medical cannabis patients in New York are not just looking for holiday sales on their medicinal products, but seasonal variety in the products on offer,” said Peckham, who sells seasonal strains and other products during the holidays.

Allie Marconi, director of marketing for the Arizona grower Copperstate Farms and accompanying dispensary brand, Sol Flower, said the dispensary takes a “simplistic approach” to deals, offering 30% off and offers. one-time purchase across the entire store.

“When we look at past holidays, it can sometimes be very complex with all the promotions we’ve tried to pile on,” Marconi said.

She said the company is particularly focused on Cyber ​​Monday. Last year, the company’s four stores totaled around 800 online orders. With five stores this year, expectations are 1,200 to 1,300 orders.

Marconi added a little advice to operators and consumers as the holiday season kicks in: “Be nice to everyone during this time.”

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