In 2019, cannabis sales saw a boost during specialized sales events surrounding Thanksgiving.
The day prior to Thanksgiving, Nov. 27, many cannabis retailers celebrated Green Wednesday, a sales event in which they offered special discounts on cannabis products.
According to cannabis retail data company Headset, Green Wednesday had 40% more sales than the average Wednesday. The company analyzed sales data from that day and compared it to data from the four previous regular Wednesdays. The data used included sales information from California, Nevada, Colorado and Washington state.
This sales growth is significantly lower than that of 2018, which showed a 63% increase in comparison to average Wednesdays of that same year.
According to the company, Green Wednesday retailers offered moderate discounts in comparison to regular discounts. Average discounts reached 12.8%, only 14.2% higher than the average discount of 11.2%. However, the large increase in sales is attributed to consumers stocking up on cannabis products for the long weekend.
The categories to receive the biggest increases were beverages (+93%), edibles (+82%) and vapor pens (+42%).
Retailers on Black Friday sold only 0.3% more units than the average sales from the previous four Fridays. This means 14.6% more items per basket. Due to discount prices, however, total sales were 6% lower than the average measuring point.
Discounts increased 74% on the day after Thanksgiving (from 11% on average Fridays to 19.1% on Black Friday).
During Thanksgiving itself, discount prices were almost equal to Black Friday but sales were dramatically lower, reported Headset.
I Heart Jane retailers published a 40% sales decrease in LA, 56% in San Diego and 67% in San Francisco on Thanksgiving versus the average day.
Headset reported an increase of 23% in sales of topicals.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.