Did 4/20 Prove To Be A Hit For Cannabis Customers This Year? Here's The Data

This year's 4/20 holiday was the busiest in history for U.S. dispensaries, with sales roughly twice as high as a typical Thursday, cannabis experts say.

This year, consumers were eager to celebrate and retailers were able to implement more efficient sales strategies while avoiding over-discounting.

Sales data from Headset, which “created a visual 4/20 cannabis sales report with real-time market insights, analyzing sales per minute,” showed that the day accumulated more than $100 million in total transactions.

In fact, sales peaked at $160,000 per minute.

Several companies touted a significant increase in sales:

• Curaleaf Holdings Inc. CURLF saw a 115% increase in net sales, a 78% increase in transactions, and a 74% increase in total customers.
• In New Jersey, the company did 75% more business in New Jersey than the average day this year and had more than 2x as many sales as 4/20 last year (2022).
• Jane Technologies reported a 9.7% increase in sales from 2022, with an estimated $26 million in sales on 4/20. The top-selling product categories included flower, vape, edible, extract, and pre-roll.

Flowhub, a cannabis retail management platform, reported that 4/20 was the busiest holiday in history for dispensaries, with an average transaction count up 5% from 2022, per the Green Market Report. CEO Kyle Sherman noted that this year's success was a positive sign for the industry and a testament to its maturation.

Cash Dominates Despite Debit Spike: Despite a 169% increase in debit transactions, cash transactions accounted for 83% of all transactions on 4/20.

Customers who used a debit card spent 17% more per transaction than on an average Thursday, indicating that electronic payment methods prompted consumers to spend more.

This year's 4/20 sales data suggests a strong future for the cannabis industry and its retailers. By adopting more efficient sales strategies and avoiding over-discounting, retailers were able to capitalize on consumer enthusiasm and drive sales to new heights.

Photo: Courtesy Of Mike Petrucci On Unsplash