As Thanksgiving approaches, so does Green Wednesday, the second-largest sales day of the year for cannabis products after April 20th (4/20). Taking place the day before Turkey Day, Green Wednesday is notable for an annual spike in cannabis sales. This has made the day an unofficial cannabis industry holiday and important day for dispensaries and other cannabusinesses that hope to take advantage of the green rush. If you’re wondering how Green Wednesday could give your business an extra push this holiday season, read on for our tips to make the most of this new holiday.
What is Green Wednesday?
Green Wednesday is the day before Thanksgiving, where many dispensaries offer customer specials for the holiday.
Most dispensaries close their doors for Thanksgiving, giving their employees the day off to spend time with family and friends. In anticipation of the holiday closures, consumers make a stop at their favorite retailers the day before to stock up on supplies ahead of the Thanksgiving feast. The soaring sales that predictably occur each year gave birth to “Green Wednesday,” a day that many dispensaries now celebrate by offering deals and discounts to their customers.
How data led to the origin of Green Wednesday
Green Wednesday was first named by California cannabis delivery service Eaze in 2016, after the company noticed a considerable spike in sales the day before Thanksgiving. That trend has continued each year, with remarkable increases in sales creating a windfall for dispensaries and other cannabusinesses. And now, those sales fuel the continued growth and rise of Green Wednesday.
According to the enterprise software company Akerna, retail cannabis sellers hauled in nearly $98.2 million on Green Wednesday in 2021. Another analytical group, BDSA, found that Green Wednesday had the highest number of daily transactions per store of any day in November 2021. In California, for example, dispensaries saw an average of 280 transactions per store per day on Green Wednesday – about 40% more than the average for other days that month. In other words, Green Wednesday drives a lot more sales.
One of the product types that received the biggest boost on Green Wednesday was edibles, which saw a 67% increase in sales on Green Wednesday in 2021. That boost included cannabis beverages, a product type that saw a whopping 86% increase in sales. Similarly, topicals and tinctures received a 39% boost to sales, while capsule sales grew by 52%.
There are no apparent signs of this trend slowing down either! Retailers and other cannabis companies can get into the green holiday spirit with their own promotions.
5 ways to take advantage of Green Wednesday
Green Wednesday offers a big opportunity for cannabis businesses to boost sales and cultivate customer loyalty. This is especially true for dispensaries and other retail operations. Here are some ways to make the most out of Green Wednesday for your business.
Keep in mind while reading these tips that the marketing activities you can participate in may be restricted by your program’s regulations. Review your state’s laws or consult a cannabis marketing professional.
1. Offer special discounts
Deals and sales leading up to holidays is an easy way to boost sales. There are endless possibilities for promotional deals and discounts that retailers and beyond can take advantage of during the holidays. Consider promoting special offers for products or services in celebration of Green Wednesday to excite customers, from bundle deals and discounts to contests and giveaways.
2. Launch loyalty programs
While loyalty programs can help bring in customers and clients all year long, special holidays are a great way to build excitement and drive new sign-ups. Launching or promoting your customer loyalty programs in conjunction with holidays like Green Wednesday can help boost participation and keep your customers coming back in the future. You could offer bonus points for purchases made on Green Wednesday or offer a t-shirt or accessory for new signups on that day.
3. Plan Green Wednesday marketing campaigns
Take advantage of your network! Running Green Wednesday marketing campaigns is a great way to reach your audience, whether it’s on social media, via email, or on your website. Consider creating holiday gift guides, newsletters and other resources for getting the most out of Green Wednesday. And be sure to remind them that Green Wednesday is their last chance to stock up before Thanksgiving.
4. Promote new products
Green Wednesday is a great time to promote new products to the widest possible audience. With more customers visiting your locations with the intention of spending more money, it could be the perfect opportunity to introduce them to a new product you just got in stock — they might even find that it’s their new favorite. Promoting new products ahead of the holidays is also great for customers looking for gifts for their friends and family.
5. Create in-store experiences
Creating fun and engaging in-store experiences to celebrate industry holidays like Green Wednesday can bring even more customers in and encourage them to spend time shopping at your location. Consider hosting live music on special sale days or food trucks, so long as your events are in compliance with local regulations. Get creative and provide your customers with something fun to mark the start of the holiday season this Green Wednesday.
How retailers can prepare for Green Wednesday
After determining what deals and promotions you want to run, retailers should consider the following tactics to prepare for the big day.
- Review last year’s sales: To best prepare yourself for Green Wednesday, it’s helpful to have an idea of what you can expect. Take some time to review your sales from last year and consider how things might be similar this year. This will give you a baseline understanding of how to plan for the big day.
- Stock up from suppliers: The last thing you want to do on the second biggest sales day of the year is run out of inventory. Assess which products sold most previous Green Wednesdays and throughout the year to stock your dispensary accordingly.
- Run ad campaigns: Advertising the special deals or discounts you plan to run is essential to a successful Green Wednesday. Make sure you start your campaigns early enough so customers know why they should stock up at your location.
- Prepare staff: Green Wednesday means there can be quite the rush of customers, most of whom are looking to make big purchases. Make sure your team is trained and prepared for big crowds and a lot of questions, and set your schedule to handle the rush.
Are there B2B opportunities on Green Wednesday?
Green Wednesday is primarily a retail holiday that benefits dispensaries, but that doesn’t mean B2B cannabis companies can’t take advantage of the day as well. If you run a B2B company, consider how Green Wednesday may impact your clients. Don’t be afraid to be creative! Some possible ideas are:
- Packaging manufacturers could create Green Wednesday themed packaging for retailers to offer their customers.
- Accessory manufacturers, like glass pipe retailers or preroll cone brands, can offer special deals for new retail partners.
- Software vendors can bundle useful tools together and offer a Green Wednesday discount, or encourage customers to upgrade to a higher tier at a special price.
- Cannabis marketing companies can create content around Green Wednesday that can be used by clients to raise awareness and offer advice.
Although Green Wednesday is mainly about B2C sales, it’s become a landmark day for the entire cannabis industry. Using the excitement of the moment to your advantage can be a great way to build client loyalty and help them to maximize their Green Wednesday sales.
Celebrating the growth of the cannabis industry
Green Wednesday is right around the corner, and it has become a day of celebration and success for the cannabis industry. To make sure your cannabusiness is able to take advantage of Green Wednesday and drive success year round, CWCBExpo offers a bevy of resources to support you. And through the end of November, we’re offering special Green Wednesday discounts for turnkey booths. Contact a sales representative to learn more!
Visit our website for helpful guides and information, and don’t forget to sign up for our next CWCBExpo event at Javits Center in New York City on June 1 – 3, 2023.