Green Wednesday 2024 proved to be a massive success for the cannabis industry, with record-breaking sales and increased consumer interest. Major players in the industry, including BDSA, Dutchie, Jane Technologies, Curaleaf and AYR Wellness, reported significant growth compared to previous years. By leveraging data-driven insights, dispensaries can optimize their shelf space to ensure that the most popular products are prominently displayed.
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Crushing Averages
Dutchie, a cannabis technology platform, saw a remarkable 91% increase in average dispensary sales on Green Wednesday compared to a typical Wednesday. The average basket size also saw a 9% increase, reaching $70.80. Notably, Pay by Bank transactions, powered by Plaid, boosted basket size by 32% compared to cash purchases.
In New York, dispensaries reported even higher averages, with adult-use baskets reaching $83.37 and medical marijuana baskets reaching $106.41. While Green Wednesday was a significant success, 4/20 remains the largest sales day of the year, with 17% more sales in 2024 than on Green Wednesday.
Meanwhile, digital service provider Jane Technologies reported a 101% increase in total sales compared to the previous three Wednesdays, with an average cart size of ~$90. Flower remained the top-selling form factor, accounting for 43% of total sales, followed by vape at 28%, edible at 14%, pre-roll at 8%, and extract at 6%.
According to data from market research firm BDSA, sales on Green Wednesday 2024, while slightly lower than the previous year at $116.9 million, remain a significant sales driver for the cannabis industry.
BDSA reported states like Ohio (+89%), New Jersey (+27%), Missouri (+4%), and New York (+1.8%) experienced substantial growth. However, markets such as Massachusetts (-12%), Colorado (-9%), California (-8%) and Arizona (-8%) saw declines.
The week surrounding Green Wednesday consistently ranks as the second-highest sales period, trailing only 4/20. This year, flowers, vape products, edibles, and pre-rolls dominated the market. To incentivize purchases, significant discounts were offered: 38% off flowers, 35% off vape products, 28% off edibles, and 33% off pre-rolls.
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Curaleaf And AYR Wellness Report Significant Gains
Curaleaf (OTC:CURLF) experienced a significant boost in sales, with overall Green Wednesday sales doubling current Wednesday baselines.
This growth was primarily driven by increased traffic and average transaction value. Florida, Pennsylvania, and New Jersey were the key states driving these increases. Curaleaf reported that while flower sales decreased compared to last year, the edible and vape categories saw substantial growth, with edibles increasing by +2% points.
AYR Wellness (OTC:AYRWF) also reported impressive figures. Transactions and customer count increased by 91% compared to an average Wednesday in November 2024. Sales surged by 82%, and the average sale increased by 12%. New customers also saw a significant boost, with an 84% increase compared to an average Wednesday. Flower remained the most popular category.
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