Black Friday Sales Expected to Break Records Once Again

[dropcap class=”kp-dropcap”]I[/dropcap]t’s already been another year of highs and lows in the cannabis industry. Now that the holidays are upon us once again, it is that time of year where cannabis sales will be closely monitored to better understand how much growth the cannabis industry has experienced in the last year. Black Friday (also called Green Friday, for obvious reasons) is on Friday, Nov. 29 this year. Here’s a brief look at Black Friday data from 2018, which could provide insight on the sales that cannabis businesses across the country will experience this holiday.

Typically, most product sales and Black Friday deals usually begin on the Wednesday prior to Thanksgiving—also called “Green Wednesday.” Cannabis sales were especially strong on that particular Wednesday in 2018. According to Seattle-based data company, Headset, cannabis sales increased by 63 percent in comparison to average Wednesday sales in California, Colorado, Nevada and Washington. Additionally, Marijuana Business Daily reports that Jane Technologies, based out of Santa Cruz, California, saw a 62 percent increase in the California and Washington markets.

Jane Technologies found that the most popular products sold during this time were a 101 percent increase in cannabis beverages and an 85 percent increase in other edibles. Cannabis concentrates also increased by 159 percent. The company’s Chief Financial Officer Howard Hong told Marijuana Business Daily that the reason sales are so high is likely because of the social nature of Thanksgiving and other holidays. “(Thanksgiving) is a holiday that includes family, social, food, celebration, etc. Our highest (sales) holidays—Thanksgiving, New Year’s Eve, Christmas, July 4th—they are all very social,” he said. Headset also found that Green Wednesday tends to include at least a five percent discount on cannabis products, which further incentives purchases.

The cannabis has seen record advances in acceptance over the past few years alone, especially with many politicians being on-board with legalization. Now, over half of the states in the U.S. have either medical or recreational cannabis, and 2019 Black Friday sales could be record-breaking.