The Wednesday before Thanksgiving, sometimes called “Green Wednesday” due to the high cannabis sales figures usually registered on that date, could be the second-highest sales day of the year.
In fact, according to business intelligence from Akerna KERN U.S. cannabis consumers will spend $251 million over the four days around Thanksgiving (11/24-11/27), a 60% increase over daily average sales.
The Wednesday before Thanksgiving is expected to bring in $90 million in sales, a 78% spike from daily averages, making it the second-highest sales day of the year after 4/20. Last year was the first time that Green Wednesday sales surpassed Black Friday sales, a phenomenon that is expected to repeat this year.
Thursday, November 25th, Thanksgiving, is predicted to bring about $4.6 million due to the shortened hours and closures of dispensaries and retail locations.
Friday, November 26th, also known as Black Friday, is expected to bring in another $88 million, up 71% from daily average sales. Black Friday will likely become another top 10 sales day for this year.
Saturday, November 27th, is predicted to gross $68.4 million in sales.
"Whether people are turning to cannabis for relaxation, to nurture a sense of togetherness, or for other reasons, consumers have made it clear that cannabis is part of Thanksgiving preparation," said James Ahrendt, Business Intelligence Architect at Akerna. "In anticipation of these major increases in sales and traffic, dispensaries and retailers should prepare their staff and promotions accordingly."
Other predictions for 11/24 - 11/27:
Category sales:
- Flower – 48%
- Cartridge/Pens – 32%
- Concentrates – 10%
- Infused Edibles – 9%
- Other – 1%
Average order total:
- Adult-use - $81.20
- Medical - $127.30
Sales by demographic:
- 62% male
- 38% female
Sales by age groups:
- Under 30 – 28%
- 30-40 –31%
- 40-50 – 20%
- 50-60 –12%
- Over 60 – 9%
- Más contenido sobre cannabis en Español en El Planteo.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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