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What to expect from cannabis shoppers on Thanksgiving
The Thanksgiving holiday, and Black Friday more specifically, is one of the most important shopping events in all US retail sectors, and cannabis is no exception. We even have Green Wednesday! Thanksgiving day this year will likely be a slow day of sales. Last year, average daily sales on Thanksgiving day decreased by 58% compared to the previous four Thursdays. We expect to see a drop of at least 50% this year. Black Friday, on the other hand, usually demonstrates strong sales and last year was no exception with the retail 'holiday' bringing in nearly 10% more average daily sales than the previous four Fridays. This is actually a lower sales increase than we've seen in previous years, so we predict that Black Friday 2021 will see at least a 20% lift in average daily sales versus the previous four weeks. We also think that Thanksgiving and Black Friday will both see relative increases in discounts of at least 40% this year, so enjoy those deals!
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 Sales
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.
MOM LSSG
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.
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