The numbers are in for 2023’s cannabis sales. Over the year we’ve seen certain trends arising over when people spend money in dispensaries. Traditionally, cannabis sales start to see serious peaks toward the back half of the year especially in Q4. Let’s take a step back and review 2023’s biggest sales days in preparation for 2024.
10: Friday, May 26th: $112.2 Million
9: Friday, September 29th: $113.5 Million
8: Friday, March 31st: $115.2 Million
This set of our top sales days aren’t necessarily tied to a specific traditional sales season. The largest connection between May 26th, September 29th, and March 31st is that they are all the last Friday of the month. The last Friday of the month tends to see an increase in spend as many Americans get paid on Fridays.
7: Friday, June 30th: $117.7 Million
While the last Friday of June seems to align with our previously discussed bucket of sales days, this Friday also is the Friday before the 4th of July. In 2022, the Friday before the 4th of July brought in $106.7 Million in single-day sales and ranked as the 5th biggest sale day of that year.
6: Friday, December 29th: $119.2 Million
The Friday before New Year’s Eve was 2022’s 4th biggest sale day with a daily gross of $107.2 Million. This year as we see both inflation and a wider catalogue of regulated states to contribute to the total spend, we see the top days of 2022 getting smoked by 2023’s numbers. These specific Fridays prior to holidays are traditionally some of the biggest sales days for dispensaries as people thoughtfully stock up on medicated products prior to celebrations.
5: Friday, September 1st: $123.9 Million
Interestingly, in 2022 the Friday prior to Labor Day brought in $91.4 Million and ranked at the 12th highest grossing day of 2023. The long weekend is proving to be a force to watch in 2024.
4: Friday, December 22nd: $131.2 Million
The Friday before Christmas may tell two separate shopping stories- the last-minute shopper with excellent taste, and the traveler who is picking up product to make it through a family gathering.
3: Friday, November 24th: 133.3 Million
Black Friday has emerged in dispensaries as a day to rival 4/20 in terms of deals and discounts. As more operators emerge and solidify dispensaries in their local retail landscape, the more we will see traditional sales days performing well for cannabis. These movements bridge the gap between our taboo emerging market and the traditional retail market.
2: Wednesday, November 22nd: $144.7 Million
Unlike the traditional retail market, dispensaries see a unique pop in sales on a day we like to call Green Wednesday- the day before Thanksgiving. In 2022, Green Wednesday brought in $116.4 Million and was the second highest grossing single day of dispensary sales. In 2023, Green Wednesday upholds their spot in the lineup but with an impressive $28.3 Million increase year over year.
Green Wednesday typically doesn’t translate to traditional retail (except supermarkets for last-minute turkey dinner needs). The need for Green Wednesday is perhaps correlated to managing Thanksgiving with relatives or to make travel easier to manage. Regardless, it’s a day to focus on more than other shopping days.
1: Thursday, April 20th: $178.2 Million
You can’t dethrone 4/20 in the cannabis world ever. In 2022, 4/20 was naturally number one in sales with a staggering $154.4 Million. 2023’s 4/20 beats that number by $23.8 Million and continues to have a strong lead as the year’s biggest sales day. For a deeper dive into the biggest cannabis sales day of the year, check out our blog.
With this in mind, what adjustments need to be made for 2024?
- Fridays are your busiest sales days. Book your brand ambassadors and your staff accordingly. If you want to show your intake team you love them, request that deliveries be made Monday – Thursday so Fridays can focus on restocking.
- Don’t ignore the standard sales cycles for retail. As cannabis becomes normalized in our culture, dispensaries will be subject to traditional shopping seasons.
- Nothing will ever dethrone 4/20. Nothing.
This data was powered by MJ Freeway’s purpose-built data platform.
