Post date: 11/21/2022

The month of November is the unofficial start to the holiday retail season, kicking off with a series of unofficial retail holidays: Black Friday, Small Business Saturday, Cyber Monday – and the new kid on the block, Green Wednesday. Green Wednesday is a retail day that’s under a decade old, but has already shattered cannabis sales records and in legalized adult-use states, has boosted dispensary sales upwards of 40%. In this post, you’ll learn about Green Wednesday’s origins, and how you can bring in more business for the long retail weekend ahead.

What Is Green Wednesday?
So – what is Green Wednesday, exactly? The name comes from an organic pattern that cannabis customers in legalized states were doing anyway: stocking up on cannabis the day before the Thanksgiving holiday weekend kicks off. Somewhere around 2016, a cannabis dispensary service noted the sharp uptick in sales on this day, coined the phrase, and a retail holiday was born. While still not on par with 420 Day sales, Green Wednesday has quickly become the 2nd most profitable cannabis sales day of the calendar year. In 2021, cannabis retailers netted $98.2 million on Green Wednesday 2021, with the cumulative sales of the days around Thanksgiving bringing in a total of $254.7 million. It’s safe to say that if you’re in the canna-biz, you can’t afford to gloss over the importance of Green Wednesday.

Why Is Green Wednesday So Profitable?
The reason that Green Wednesday increases momentum with each passing year is the result of a few factors working together, which dispensaries can leverage to their advantage to increase sales throughout the Thanksgiving weekend. Historically, many dispensaries have closed for the long weekend, and Black Friday is known for long lines. Some of the traffic comes from customers and medical patients making sure they’re stocked for the holiday, picking up medications and special products to enjoy at festive gatherings. This means more customers visiting, and generally results in higher ticket averages, because they’re stocking up.

Holiday stress relief is another reason for increased Green Wednesday sales. Not every family gathering is celebratory. Even fun family gatherings include the stress of meal prep, close quarters, and other stress-inducing situations. Cannabis provides an effective way to manage anxiety, stress, and depression, which also spike during the holiday season. Likewise, Thanksgiving is a holiday known for overindulgence, and cannabis can provide relief from an upset stomach and other digestive issues.

Does Green Wednesday Affect Black Friday?
In 2020, for the first time ever, Green Wednesday cannabis sales surpassed Black Friday sales, with cannabis consumers spending $238 million from November 25-28. In short: Green Wednesday is an extra shopping holiday that other businesses can’t leverage – but dispensaries can extend their Green Wednesday sales to take advantage of Black Friday, Small Business Saturday and Cyber Monday traffic.

Many customers, long accustomed to Black Friday, will be primed for holiday sales. Green Wednesday is a great time to advertise for Black Friday, Small Biz Saturday and Cyber Monday to get repeat customers coming back to check out your new sales, and an extra retail holiday that you can use to broaden appeal and tap into new cannabis-curious customers.

10 Easy Ways to Increase Green Wednesday Sales

Green Wednesday is of course a great time to offer discounts, sales, and promotional specials on cannabis, but it doesn’t stop there. Remember, this is the kick-off to the winter holidays, and many customers are thinking of gifts, even in the dispensary. When setting up your seasonal merchandising, remember to position accessories, grinders, dabbing rigs, cannabis cookbooks, and other specialized items for easy gift-giving ideas. You can also use this opportunity to offer “elevated” products that are ideal for canna-curious gift-givers and holiday celebrations, like infused olive oil, CBD beverages, or seasonal edibles.

Here are our Top 10 Tips for increasing your dispensary’s Green Wednesday sales:

  • Make payment easier for customers to shop and pay with card transactions and eCommerce.
  • Use customer data and shopping patterns to stock up on your most popular products before the shopping season starts.
  • Consider extending your holiday hours if you have the staff to support it.
  • Advertise your seasonal sales online, in-store, and via email in the weeks leading up to Green Wednesday.
  • Spend time on creative holiday merchandising in your dispensary and create discounted gift bundles.
  • Offer exclusive sales and discounts to email subscribers and/or online shoppers.
  • Cross-promote products to increase ticket averages and discount or bundle up products with accessories or products commonly purchased together.
  • Encourage customers to order and pay online for easier in-store pickup.
  • Create a streamlined check-in experience to minimize waiting in line and keep customers moving.
  • Adjust and extend your Green Wednesday sales to cover Black Friday, Small Business Saturday, and Cyber Monday.

 

Earn More Green Wednesday Revenue With Paybotic

Green Wednesday has the same retail power as Black Friday, just for a more specialized product. As Green Wednesday continues to pick up momentum, it enjoys increased exposure, higher sales, and more mainstream acceptance. Green Wednesday 2022 is poised to be the biggest one ever, and there’s no reason your dispensary should miss out on your piece of the action.

But there’s one kind of green you don’t need more of for Green Wednesday, and that’s cash. High sales days in a cash-only dispensary can make your business a target for crime, while card payments mean there’s less cash on hand, decreasing risk to your staff and customers. When a customer is paying cash, they can only spend what’s in their pocket, unless they take out more cash. Paying by card makes it easier to upsell, add on more products, or make a high-ticket purchase.

Paybotic makes it easier for you to have the greenest Green Wednesday ever. With Paybotic, customers can pay via debit, eCheck, ACH, or eCommerce. No need to make an extra stop or pay extra fees to take out cash – with Paybotic, your customers have the easiest way to check out and be on their way

Contact us today to find out how Paybotic can get your dispensary ready for Green Wednesday 2022 and beyond: 844-471-2234 https://paybotic.com/contact/

 

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