While some brands are gearing up for Cyber Monday and Black Friday, others are preparing for Green Wednesday. "Weed Wednesday," as it is sometimes called, is "the perfect confluence of people wanting weed," Weedmaps culture editor Nicolas Juarez told Cheddar.
Green Wednesday makes sense, he said, because it's "the day before Thanksgiving, where it's travel-filled, shopping-filled, stress-filled — you're going home to Thanksgiving, where it can be tense."
Weedmaps, founded in 2008, is a technology company that allows users to review cannabis strains, locations, and especially on Green Wednesday, deals.
Juarez said the app sees a 53 percent increase for in-store pickups and a 30 percent increase in users looking at dispensaries on the shopping day. He said there are a myriad of deals offered, ranging from 50 percent off to buy two get one free, which may be especially appealing for California users ahead of the tax increase on Jan. 1, 2020.
Weedmaps is not alone in seeing a jump in the activity on the cannabis-inspired shopping day. Sales on 2018's Green Wednesday was reportedly 63 percent higher than the average Wednesday.
"It's an opportunity to target a new customer, who hopefully will become a returning customer," he said.
While marijuana and CBD gifts may become more popular this holiday season, there still is risk involved. Federal law still prohibits THC, and CBD in food and drink is still illegal. However, more states than ever have legalized cannabis products, leaving gift-givers and recipients in limbo.
But with availability rising, and growing support for legalization, Juarez says the holidays will be "a great time to try a new product."
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
