As predicted, Green Wednesday saw a big increase in cannabis sales across the US, with a 33% increase in total retail sales in comparison to the previous four Wednesdays. The average discount was up by 29% on Green Wednesday, rising from 12.9% during the previous four Wednesdays to 16.7% on Green Wednesday. Black Friday, on the other hand, did not have the sales growth we've seen in previous years. Black Friday actually saw a slight decrease in total sales (-4.6%) versus the previous four Fridays. However, Black Friday was certainly the day to find a deal on cannabis. Average discounts rose from 13.5% on the previous four Fridays to 21.0% on Black Friday, an increase of 56%!
When we look at cannabis categories over the holiday, Edibles were the winners of the weekend with 67% growth on Green Wednesday and 11% growth on Black Friday. Topicals and Tinctures rounded out the top three performing categories on Black Friday with 39% and 10% growth respectively. On Green Wednesday, Beverages performed best with 86% growth (perhaps customers were opting for canna-beverages rather than wine during the Thanksgiving meal). Capsules also had a strong sales response with 52% growth over the previous four Wednesdays.
Track cannabis sales and market performance
Key metrics defined
These six key metrics from the previous month will provide you with a pulse check on legal cannabis markets. Below, you'll find data on year over year growth, basket size, and more.
Total monthly sales for the previously completed month.
YoY Sales Growth.
Year over year growth of sales (For example, November 2022 compared to November 2021).
Avg Item Price
The average price of a cannabis item in the most recently completed month.
Avg Basket Size
The average size (in sales $) of a retail basket in the most recently completed month.
Median Store SKU Counts
The number of distinct SKUs sold in the median store in the most recently completed month. Median was used instead of an average to remove the effects of outlier stores.
Median store Like-Store-Sales-Growth MoM - The month over month growth in sales for the median sample store (for example, January 2022 vs. December 2021). “Like stores” are filtered to exclude any newly opened stores or recently disconnected stores.