4/20 Cannabis Sales Data
Lerato
Description
<p>4/20 has been the single biggest day of sales each and every year since the recreational cannabis market began. For example, sales on 4/20 last year were nearly double that of the average sales on the previous four Mondays. Purchasing cannabis is clearly one of the most integral parts of the 4/20 celebration to many cannabis consumers in recreational markets.</p> <p>The holiday this year will be the second 4/20 during a pandemic, which allows us to use last year’s trends to predict similarities and differences to previous years. Looking at previous 4/20s, we find that average daily sales during the week of 4/20 has steadily increased since 2016, with a 31.6% increase in sales during the week of 4/20/2020. Despite 4/20 falling on a Monday in 2020, it was still the biggest day of sales during the week by $9M.</p> <p>Larger baskets and more customers were the main drivers of sales growth, indicating the importance of creating promotions that are targeted towards your customers. New and visiting customers, on the other hand, had the largest increase in sales share to almost 40% of total sales during the 4/20 week.</p> <p>For the 5th year in a row I've visited 20 stores on 4/20 where we've noticed various trends and anomalies including butdenter and customer favorites:</p> <p> Budtender Fav Customer Fav<br /> Flower 95.24% 66.67%<br /> Concentrate 4.76% 9.52%<br /> PreRoll 9.52%<br /> Vape 4.76%<br /> Edibles 4.76%<br /> Topicals 4.76%</p> <p>2020's customer favorite was flower (63%) followed by PreRolls (16%), Beverages (10.5) and Concentrate (5%). Budtender favorites last year was flower (79%), PreRolls (10.5%), and then 5% for vape, flower pod & rosin dabs.</p> <p>Host:<br /> Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.<br /> https://www.linkedin.com/in/joshkincaid/</p> <p>Episode 70
Creators
ernestMoon
Creator