Why Ethos Cannabis Is Closing Dispensaries On 4/20
“4/20 started as something simple and personal”
Philadelphia-based cannabis multistate operator Ethos Cannabis is doing something unheard for the infamous 4/20 marijuana holiday this month: closing its dispensary doors for the day. Instead of waiting on long lines of customers eager to take advantage of deep discounts, Ethos store employees will have a day off with pay to enjoy as they choose. It’s a definite departure from industry trends.
What Is 4/20?
In case you haven’t heard the story, 4:20 began as a code word for getting high among a group of 1970s Marin County, California teenagers, who would gather at that time to smoke weed. Since then, 4:20 (or 420, 4/20 and 4-20) has come to represent all things cannabis and the associated culture, making April 20 of each year the unofficial global weed holiday.
With the onset of cannabis legalization and commercialization, the 4/20 weed holiday became a marketing ploy for many dispensaries and brands eager to connect with consumers. But as discounts get steeper and take a bigger bite from the bottom line, some executives including Ethos Cannabis CEO Gibran Washington are questioning the sustainability of promotions that yield little in the way of profits.
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