While the weed-centric 420 holiday on April 20th remains the largest sales day for most retailers across the state, the winter holidays have emerged as ticket-turners for the industry.
At least three of the legal marijuana industry’s five largest sales days of the year occur during the holiday season, according to Michigan retailers.
“As cannabis becomes more and more mainstream, people exchange it as gifts and like to bring some to holiday parties,” said Mike DiLaura, chief corporate operations officer and general counsel for Madison Heights-based House of Dank. “It’s the biggest season for retail, and we are right in the middle of it.”
Michigan’s competitive marijuana industry nary needs a reason to run deals — Michigan cannabis is the cheapest in the nation and often sees jaw-dropping offers, such as buy one-get one pre-rolls or $15 ounces — but the industry wants in on the holiday shopping sprees.
The industry has recently coined the day before Thanksgiving — a popular night for bar sales thanks to college students returning home — as “Green Wednesday” to capitalize on “cousin walks” during Thanksgiving or for those that want a side of couch with their turkey.
Green Wednesday is the second-largest sales day of the year for large single-location retailer Greenhouse of Walled Lake, co-owner Jerry Millen told Crain’s.
Green Wednesday is the third-busiest day for Quality Roots and House of Dank.
And at House of Dank’s 14 retail locations, Black Friday is the second-busiest day for House of Dank’s 14 retail locations, DiLaura said, and for Birmingham-based Quality Roots’ eight locations. DiLaura said the snowstorm that hit west and northern Michigan on Wednesday delayed some spending until Black Friday at House of Dank stores.
Black Friday is the biggest sales day of the year for the state’s largest cannabis company, Lume Cannabis Co., Doug Hellyar, president and COO of Lume, told Crain’s. At Lume, Green Wednesday sales were “significantly lower” than the days around 420, July 3, and the Friday before Memorial Day.
For House of Dank, the Saturday before Christmas and New Year’s Eve round out the holiday season for marijuana sales. Its other top sales days are the same as Lume: the Friday before Memorial Day and the Friday before Labor Day.
Read more at Crain’s Business
