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Cannabis sales trends from Thanksgiving 2022
Green Wednesday and Black Friday were the third and fourth biggest sales days so far in the US in 2022. When we look at cannabis sales from Wednesday through Friday during the week of Thanksgiving, we see that Green Wednesday had the greatest increase in sales, increasing 48% compared to a typical Wednesday in November. Friday, which is usually the highest performing sales day during a standard week, saw only a minor sales lift with a 1% increase on Black Friday. Sales on Thanksgiving Day decreased 65% as many were celebrating with family on the holiday.
Inhalable categories took the biggest hit during the holidays, with Concentrates (-11.4%) and Flower (-10.8%) seeing the most decrease in sales. More discrete and non-inhalable categories such as Topicals (15.7%), Beverages (13.2%), and Edibles (6.1%) saw sales growth during the holiday stretch.
Discounts increased during the holiday. Green Wednesday was the largest day of sales during the week, but had the smallest average discount of the three days (19.8%), though with an increase of 6 percentage points compared to a typical Wednesday. Thanksgiving (22.2%) and Black Friday (23.7%) saw the largest average discounts both with an increase of over 8 percentage points compared to a typical Thursday and Friday.
Track cannabis sales and market performance
Key metrics defined
These six key metrics from the previous month will provide you with a pulse check on legal cannabis markets. Below, you'll find data on year over year growth, basket size, and more.
Total Sales
Total monthly sales for the previously completed month.
YoY Sales Growth.
Year over year growth of sales (For example, November 2022 compared to November 2021).
Avg Item Price
The average price of a cannabis item in the most recently completed month.
Avg Basket Size
The average size (in sales $) of a retail basket in the most recently completed month.
Median Store SKU Counts
The number of distinct SKUs sold in the median store in the most recently completed month. Median was used instead of an average to remove the effects of outlier stores.
MOM LSSG
Median store Like-Store-Sales-Growth MoM - The month over month growth in sales for the median sample store (for example, January 2022 vs. December 2021). “Like stores” are filtered to exclude any newly opened stores or recently disconnected stores.
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