Green Wednesday is the New Black Friday for Cannabis Retailers
New data reveals significant growth in cannabis sales during key shopping days, particularly Green Wednesday (the day before Thanksgiving) and the entire holiday week in general.
We have found that sales on Green Wednesday 2023 were 90.5% higher than the previous three Wednesdays. This surge in sales also marked an 18.1% increase over Green Wednesday 2022. Even when adjusting for growth in the cannabis market, Jane estimates sales were still up by 11.4% year-over-year, highlighting how consumer demand for cannabis products on this day continues to rise.
Shoppers tend to stock up before traveling for the long holiday weekend, and Green Wednesday has become an essential part of their purchasing habits. The top-selling categories were flower, vapes, edibles and pre-rolls.
Thanksgiving week cannabis sales
Green Wednesday on its own does not tell the whole story, however.
The entirety of Thanksgiving week, including Black Friday, has become a booming time for cannabis retail sales across the country. According to our data– which tracks sales across most states (including medical markets) – Thanksgiving week 2023 pulled in $355.8 million in total cannabis sales, including a record-breaking period for pre-roll sales.
Sales for Thanksgiving week 2023 in the markets reached:
Flower: 2 million units sold (27.4% of total) for $144.5 million (40.6% of revenue).
Vape pens: 6 million units sold (19% of total) for $85.5 million (24% of revenue).
Pre-rolls: 9 million units sold (25.9% of total) for $50.4 million (14.2% of revenue).
Planning ahead is key
The best way for vendors to capitalize on the seasonal bump in sales is to plan ahead.
From the data we have collected, Our Vende wholesale platform, shows a 17.17% increase in orders on Nov. 5, three weeks before Thanksgiving. The uptick in wholesale sales shows retailers anticipate high demand leading up to Thanksgiving week and stock up accordingly.
Holiday season cannabis sales
While Thanksgiving marks a key period for cannabis sales, the holiday season continues through Jan. 1 with other notable spikes.
Dec. 23, in particular, stands out as one of the biggest cannabis sales days of the year.
According to our data, pre-roll sales typically increase by 18% on this day, as consumers reach for something to take with them for visits at Christmas and other winter holidays. With Green Wednesday and Thanksgiving week setting sales records – and Dec. 23 positioned as another peak sales day – the holiday season has become a major driver of growth for cannabis retailers.
Data suggests that retailers should plan to stock up in advance of these high-demand periods to capitalize on the sales rush.
As you have read in this article it is not as straightforward as other industries. Operating a cannabis business is extremely difficult, and not having the know-how can really affect your bottom line. Vende Platform is made to help its clients run the business they have always wanted. Providing you with all the necessary tools for your business to succeed is our goal. Schedule a demo with us today and see how running your business on the Vende can help.