Marijuana Retail Report

Philadelphia-based multi-state cannabis operator Ethos Cannabis is doing something unheard of for the infamous 4/20 marijuana holiday this month: closing the doors of its dispensary for the day. Instead of waiting in long lines for customers wanting to take advantage of deep discounts, Ethos store employees will be given the day off with pay to enjoy them as they please. This is a definite departure from industry trends.

What is 4/20?

If you haven’t heard the story, 4:20 started out as a code word for getting high among a group of 1970s teenagers from Marin County, California who would gather at the time to smoke weed. Since then, 4:20 (or 420, 4/20, and 4-20) has come to represent all things cannabis and related culture, making April 20 of each year the unofficial World Weed Day.

With the onset of legalization and commercialization of cannabis, the February 20 holiday has become a marketing ploy for many dispensaries and brands looking to connect with consumers. But as discounts become steeper and increasingly cut off from profits, some executives, including Ethos Cannabis CEO Gibran Washington, question the sustainability of the small-profit promotions.