For those working in the cannabis industry, 4/20 is a day many look forward to all year long. Not only is it a fun holiday and a chance to celebrate with customers, but it can be a very profitable day too. To celebrate the holiday and to give you some valuable insight into what it means for cannabis dispensaries, we’ve rounded up the best 4/20 stats and fun facts that will help you prepare your dispensary for the holiday!
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Before we dive into this data, it’s worth noting that 2020 was an abnormal year across the board, so it’s difficult to use 2020 as a comparable to glean what we can expect in 2021. Last year, 4/20 took place when the pandemic was just beginning and people were (mostly) sheltering at home, sales looked a bit different than they normally do. There was a decent amount of panic buying happening well before 4/20 as many consumers were uncertain if dispensaries would be allowed to remain open. In addition, people didn’t gather to celebrate the holiday like they normally would, likely cutting down on same-day purchase. Because of these factors, 4/20 sales in 2020 were abnormally low compared to previous years, but sales the days before and after 4/20 still remained strong.
For these reasons, we expect 4/20/2021 to look more “normal” like we saw in 2019 and 2018. Even though the pandemic isn’t fully over, purchasing behaviors across the economy are much more normal now than they were in April last year when the pandemic had just begun. However, the holiday in 2021 is on a Tuesday, Friday and Saturday sales the week leading up to 4/20 are likely to start peaking early (FlowHub).
Here, we look at 2019 and 2018 to give you a better sense of typical sales patterns surrounding the holiday and plan for 2021’s big day.
“Normal” 4/20 Sales Stats
While it’s easy to assume that sales will soar on 4/20, it’s nice to prove it with numbers. When diving into these fun facts about 4/20 sales, take note about how having deals and discounts to celebrate the holiday can help keep sales numbers high.
- Headset found that in 2019 (pre-COVID), dispensaries saw 4/20 sales grow by an average of 112% compared to average sales generated in March
- In 2019, Greenbits found that the highest average store sales occurred in Nevada ($44,556) and the lowest took place in Maine ($3,177)
- When it comes to 4/20 product sales, Headset saw flower sell best and grew 122% in sales across all of their markets compared to the month prior.
- The following states saw their 2019 4/20 sales increase by high percentages compared to their March 2019 sales]:
- California: 122%
- Washington: 117%
- Colorado: 97%
- Nevada: 101.1%
- In 2019, the product category with the biggest discounts across Headset’s measured markets was concentrates (around a 19% discount) and overall there were discounts between 14% and 16% across all categories
The Weekend Surrounding 4/20 Matters
While April 20th tends to get all the glory, the days surrounding 4/20 can be just as important — if not more so — for cannabis dispensaries. The day of the week that 4/20 falls on can also affect cannabis sales. Headset revealed some interesting insight into 4/20 weekend sales in 2019.
- On April 20th, 2019 cannabis sales were 50% higher than on an average Saturday
- In 2019 sales and transactions grew 22% over the 4/20 weekend compared to 2018
- Headset saw sales rise by 128% in 2019 with a large increase happening the day before 4/20 which was a Friday in 2019
- In general, Fridays are the most popular day for cannabis sales, but on Friday April 20th, 2019, Headset saw sales go 27% higher than the previous four years
- Sales tend to drop after that 4/20 rush. And in 2019, Headset witnessed sales drop in the following days, with a 25% drop that Sunday compared to a normal spring Sunday
Edibles and Beverages Sell Strongly
It turns out that plenty of consumers enjoy celebrating 4/20 with a tasty edible or cannabis beverage in hand.
- In 2018, Headset found that beverage sales increased by 149% on 4/20 compared to similar weekdays in both Washington and Colorado and edible sales grew by 136%
- As of 2019, beverage sales continued to remain strong on 4/20, which some industry insiders suspect is because beverages are associated with celebration
Generation Z Loves 4/20
While overall Millennials spend more money on cannabis products than other age groups on any given day, they may have a bit of competition on their hands. Generation Z is making a splash in the cannabis market as many members of that generation are now 21 and entering the adult-use cannabis market.
- According to Headset, on 4/20 Generation Z customers had the largest increase in average basket size (21%)
- Generation Z also had the largest increase in average items per basket (68%) on 4/20
“Pandemic” 4/20 Sales Stats in 2020
Here a look at how 4/20 2020 performed according to Flowhub:
- Recreational sales were down compared to 2019 and average sales per location dropped by 14%
- Colorado sales were down 36%
- California rose by just 2%
- Oregon rose by 8%
- Medical sales remained strong in 2019:
- Average sales per location rose by 5.5%
- Colorado saw a large jump in sales with a 32% increase
- Flowhub reported that in 2020, for the first time in their company’s history, 4/20 wasn’t their biggest sales day of the year. They saw larger sales on the weekend on March 13th (when panic buying was occurring) which performed 5% better than 4/20 for them
For more on how the pandemic affected purchasing patterns, check out this illuminating blog post from Headset!
Stock up in time for your big 4/20 rush on Confident Cannabis Wholesale!
Do you have any other pro tips or trends you’d like to share? We’d love to hear from you! Email us at firstname.lastname@example.org!