Green Wednesday, Second Only to 4/20 as a 'High Holiday,' Set to Break Cannabis Sales Records

Cannabis connoisseurs, even with their well-earned reputation for being super chill, aren’t immune to the fear of missing out, especially when it comes to seasonal shopping. So while the general consumer base has its Black Friday and Cyber Monday, cannabis fans have their Green Wednesday, second only to 4/20 as a national weed-buying extravaganza. This year, as people shelter in place and forgo social gatherings per CDC recommendations, sales of bud, edibles, tinctures and vapes may break previous years’ records and cement Green Wednesday—which takes place today, the Wednesday before Thanksgiving— further in cannabis lore, according to industry experts. “It’s one of our high holidays in weed,” Nidhi Lucky Handa, CEO of Los Angeles-based cannabis brand Leune. “It’s a day to stock up because it represents a long weekend, and people are thinking about self-care.” Green Wednesday, as a concept, got its start around 2016, reportedly cooked up by the delivery platform Eaze, after it noted an organic swell in demand. It was quickly adopted by dispensaries and brands offering holiday-specific discounts and doorbuster deals, not unlike mainstream brick-and-mortar stores. In uncertain times, and especially over the holidays, it’s no surprise that people turn to cannabis for relaxation. Socrates Rosenfeld, co-founder and CEO, Jane Technologies Many industry execs, like Handa, thought it was a lark in the early days. But after seeing the stats—bulk buying that nearly reached the lofty heights of April 20, the global celebration of all things weed—they were believers. That was everyone’s cue, she said, to start planning and strategizing months in advance of Green Wednesday. The holiday took hold for a number of reasons, according to John Ford, vp of retail for Chalice Farms, a seven-dispensary chain in Oregon. People might be looking to stop up before seeing family over the long Thanksgiving weekend “People are traveling home to see friends and family, potentially from out of state where recreational sales may not be legal, and many dispensaries are closed on Thanksgiving,” he said. Another industry veteran called the holiday an homage to the “stress-reducing, sleep-enhancing, appetite-stimulating benefits” of weed and “the perfect opportunity to prepare for food fights with in-laws, all-day baking affairs and defeating the indomitable -itis,” said Matt Janz, director of THC marketing for The+Source retailer in Las Vegas. But as health officials warn against holiday travel this year, there may be fewer anxiety-producing moments—crowded flights and awkward family dinners—that traditionally drove weed purchases. Also missing: the communal, sharing aspect of cannabis, which is nearly extinct in the wake of Covid-19. A soothing distraction At the same time, as coronavirus cases spike, stress levels are peaking, and people are looking for a soothing distraction. “Thanksgiving 2020 will be unlike any in living memory,” according to a recent report from research firm Headset, which tracks weed sales in Oregon, California, Colorado, Nevada, Washington, Michigan and Massachusetts. “With millions of Americans being asked to stay at home for the holiday, frankly, what else is there to do?” Reps at Eaze say they’re anticipating another green rush, brought on by concerns about the pandemic, the shaky economy and the divisive post-election mood in the country. In uncertain times, people turn to weed products to help them relax Analysts are basing their 2020 projections on prior Green Wednesday data, which has shown the holiday’s explosive growth in just a few short years. Green Wednesday sales in 2019, for instance, jumped 60% over an average of the previous four Wednesdays in a handful of adult-use states, Headset found. In California alone, the country’s most robust market, Green Wednesday sales jumped to $14.5 million last year, a 65% increase over the previous four Wednesdays. “In uncertain times, and especially over the holidays, it's no surprise that people turn to cannabis for relaxation, celebration and a sense of togetherness,” said Socrates Rosenfeld, co-founder and CEO of Jane Technologies. “According to Jane’s data, every holiday in 2020 to date has attracted a record number of cannabis sales online, in comparison to previous years.” Explosive growth BDSA reported a 40% leap in dollar sales versus the monthly average for Green Wednesday 2019, followed by an even more significant uptick on Black Friday, with a 50-60% increase in the bottom line, according to Kelly Nielsen, vp of insights and analytics. (Discounting cuts even deeper on Black Friday). Eaze saw a 90% increase in deliveries on Green Wednesday 2019, compared to a typical Wednesday, and a 147% increase in deliveries compared to Green Wednesday 2018. Legendary dispensary chain Harborside in San Francisco recorded a 30-40% lift in its 2019 Green Wednesday sales and projects a 20-30% increase this year, according to director of retail Pedro Fonseca. And planning to take a page from his own playbook, but extended over a longer period, he’ll kick off 14 days of promos leading up to Christmas. The rest of the world can have Black Friday—Green Wednesday is our cannabis-infused holiday that belongs to our culture.Matt Janz, director of THC marketing, The+Source Analysts say that edibles and beverages will be the hottest growth categories for 2020’s Green Wednesday, partly because those products are already spiking in popularity. They’re also more conducive to indoor imbibing and welcoming to the cannacurious. (Flower is still king, though, easily making up the majority of weed sales regardless of the calendar). To cater to consumers who are now conditioned to shop on the holiday, dispensaries and brands are aggressively rolling out promotions, many of them staggered through the weekend to spread out buying. Chalice Farms has launched a number of witty holiday-themed deals this week like a 30% discount for a product set nicknamed “Feliz Navidab and a Cartridge in a Pear Tree.” (Coming soon: 30% off edibles under the tagline, “May Your Daze Be Mary + Bright.”) A new consumer tradition Surterra Wellness, for its Florida dispensaries, is bundling its THC-centric products with swag like shirts, hats, stickers and stash jars. The company is also stepping up its stringent coronavirus safety precautions, leaning further into virtual consultants and pre-pay initiatives that speed up the in-store experience. In keeping with buying patterns established during the initial lockdown and green wave in the spring, consumers are expected to rely heavily on digital ordering, click and collect, drive-through pick-ups and delivery services. Though weed fans may (or may not) partake in trips to the mall or Amazon binge-buying, they’re establishing their own version of a consumer holiday tradition. “People want to be part of a special and authentic experience. The rest of the world can have Black Friday—Green Wednesday is our cannabis-infused holiday that belongs to our culture,” said Janz, who noted that, pre-legalization, weed was already “a crucial component” for Thanksgiving get-togethers. “It’s our moment to feel seen, taken care of and fully prepared to tackle the onslaught of holiday merriment."