Green Wednesday: A growing opportunity in cannabis retail

As the cannabis industry continues to evolve, Green Wednesday—the day before Thanksgiving—has emerged as one of the busiest days for cannabis sales. Ranking second only to 4/20 in sales volume, the day has become a cornerstone for retailers and brands looking to engage consumers and boost revenue. Harrison Bard, CEO of Custom Cones USA, explained how this sales week highlights both the cultural and economic importance of cannabis.

“Green Wednesday is the second-biggest sales week after 4/20,” Bard told Greenway. “It’s a huge opportunity for both brands and dispensaries to capitalize on the sales. The reason behind it is everyone’s gathering, being social, has time off;  so those are all perfect recipes for increased cannabis sales.”

Green Wednesday is only the beginning of cannabis’s holiday sales rush. December 23, just before Christmas, has become another major sales day, with pre-roll sales typically increasing by 18%. This underscores the role cannabis plays in holiday traditions, both as a social activity and as a gift.

Record-breaking Green Wednesday sales

Green Wednesday sales have continued to climb, highlighting the increasing demand for cannabis products. According to Jane Technologies, cannabis sales on Green Wednesday 2023 reached $9.2 million, marking an 11.43% increase from the previous year and a staggering 90.5% jump compared to the three prior Green Wednesdays. This surge can be attributed to consumers stocking up ahead of the holiday weekend.

Flower remained the top-selling category, generating $3.3 million in Green Wednesday sales, while pre-rolls took fourth place, pulling in $963,000. Data from cannabis analytics firm Headset revealed that pre-roll sales during Thanksgiving week totaled $50.4 million, with 4.9 million units sold. This represented a 26.3% increase in revenue and 1.4 million more units sold compared to 2022.

Bard emphasized the cultural aspects driving these sales, particularly the tradition of the “cousins’ walk,” a ritual where family members step outside for a cannabis break during Thanksgiving festivities. “You see so many commercials and jokes and memes about that now,” Bard said. “It’s part of the holiday now to celebrate with your cousins by going out and smoking.”

Infused pre-rolls leading growth

While flower remains dominant, infused pre-rolls are quickly catching up, especially in the Missouri market. “The next biggest category (after hybrid pre-rolls) is the infused pre-rolls,” Bard explained. “And those are about half as much. Infused pre-roll sales are up by almost 200% year over year. Last year, infused pre-rolls were at about $14.5 million in total sales, and now we’re pushing at over $43 million, and those are continuing to grow really fast.”

This growth reflects both innovation and affordability. “As prices for high-quality flower and concentrates are decreasing, infused pre-rolls are becoming more accessible,” Bard noted. “Manufacturers can produce them at the same cost as regular pre-rolls, which means consumers are getting better products for less money.”

Strategic preparation for success

To fully capitalize on Green Wednesday, cannabis businesses must prepare well in advance. “All of the Thanksgiving sales for a business, the preparation gets pushed forward,” Bard said. “At Custom Cones USA, we see an increase in sales in October. That’s when all the businesses are manufacturing and trying to get their goods out to retail. It’s like planning for Christmas.”

   

Bard also highlighted Custom Cones USA’s role in helping businesses meet these demands. “We’re really strict in compliance,” Bard said. “We’re really proud to view ourselves as by far the strictest and the most conscientious of all the regulations as a packaging company. Since we only focus on pre-roll packaging and machines, we really have a deep, deep understanding of the entire product category, how to manufacture it, package it, and we pay attention to the regulations.”

In Missouri, that translated to Bard and his team creating cones that adhere to packaging rules to ensure the term “final form” could not be misinterpreted.

Looking ahead

Bard and Custom Cones USA’s insight and understanding of the market come from both production and consumer feedback, with one advising the other.

“We’re seeing a shift from just distillate-infused pre-rolls with the paint on the outside and the keef on the outside to higher-quality options like solventless hash rosin,” Bard said. “Consumers are becoming more discerning. They want products that offer better flavor and a cleaner experience.”

Specialty filter tips, such as those made from glass, wood, or ceramic, are also becoming increasingly popular. “A lot of brands are seeing this and are beginning to use glass, wood, and ceramic filter tips to distinguish and help command that higher price point and stand out from the competition,” Bard said.

Bard also noted the growing appeal of multi-pack pre-rolls. “One-gram pre-rolls are making up 62.7% of all pre-rolls sold,” he explained. “But multi-packs are gaining traction. I would assume that those will be closer to 30-35% [of the market] within the next six months.”

Brandon Dunn contributed to this article.