Black Friday is expected to bring in another $88 million, up 71% from daily average sales. It will likely become another top 10 sales day for 2021.
By Javier Hasse
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 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.
[caption id="attachment_171585" align="alignnone" width="696"] Photo by stockstudioX/Getty Images[/caption]
Green Wednesday 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.
RELATED: Green Wednesday Cannabis Sales Blow Away Black Friday
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.
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"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."
RELATED: What Is The Cannabis Community Thankful For This Thanksgiving?
Other predictions for 11/24 – 11/27:
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%
This article originally appeared on Benzinga and has been reposted with permission.
The Fresh Toast is a daily lifestyle platform with a side of cannabis. For more information, visit www.thefreshtoast.com.