It’s a great year for the unofficial cannabis holiday!
Traditionally, 4/20 (April 20th) is the Boxing Day/Black Friday of cannabis shopping. The long-awaited holiday brings awesome deals and exclusive promotions from retailers, not to mention a slew of celebrations!
This year, with the easing of pandemic restrictions, retailers are capitalizing on the fact that 4/20 falls on a Wednesday to make up for lost time with week-long deals and deep discounts. Companies have been looking forward to this moment for an exceptionally long time!
Here’s everything you need to know about how 4/20 is going down this year.
Skyrocketing Sales-Especially This Year
Cannabis businesses expect that sales will spike by 30 percent to 50 percent in the days running up to 4/20.
According to Akerna, a marijuana technology startup located in Colorado, last year’s April 20 sales totaled a record $111.8 million. Data from Seattle-based data-analytics firm Headset going back to 2018 shows that the value of sales on 4/20 in the United States is often double that of the previous four weeks. That is a massive uptick! Headset also predicts that total cannabis sales in the United States will surge by at least 100 percent in the days leading up to and including 4/20 when compared to non-holiday sales days.
In 2022, sales are likely to be record-breaking for a few reasons. First, because 4/20 falls on a Wednesday this year, businesses are planning discounts and promotions to begin the Friday before, on April 15. That means almost an entire week of deals instead of the typical day or two.
Furthermore, many COVID-19 epidemic restrictions have been dropped around the United States, and people are more likely to assemble to celebrate 4/20. This could lead to more sales.
Best-Selling Cannabis Product Categories
Beverages, concentrates, and flower led the individual product categories in sales increases at the 4/20 holiday in California, Colorado, Michigan, Nevada, Oregon, and Washington state.
Companies surveyed stated that flower production, specifically pre-rolls, is their key priority in preparing for 4/20 sales.
“Flower – including pre-rolls – remains the most sought-after product category,” said David Spreckman, senior vice president of marketing for Verano Holdings, a Chicago-based multistate operator.
As the saying goes, flower is to 4/20 what beer is to Oktoberfest.
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Bigger And Better In 2022
Retailers are gearing up to make this year’s 4/20 celebrations an event to remember–and an event to drive sales up. They start planning months in advance, stocking up on flower, rolling papers, grinders, and pre-rolls.
Some companies are going all out this cannabis holiday season with extra celebratory offerings to lure in new customers. Samip Shah, chief operating officer of C3 Industries, a vertically integrated cannabis company based in Ann Arbor, Michigan, says his organization’s goal is to create a festive ambiance outside the stores, complete with promos and even food trucks.
“It’s a chance to bring in new consumers, individuals who are participating in the sector for the first time,” Shah added.
Other businesses are taking a different tack–upgrading their website and user experience to ensure consumers can quickly get what they want, prompting shoppers to go online and fill their carts with orders before coming to the store to pick up their items.
Faster navigation speed boosts conversion rates – the percentage of consumers who buy a product – and makes the sales process flow more easily.
That’s important when sales volume skyrockets on April 20th.
Cannabis retailers are pulling out all the stops this year to celebrate 4/20 bigger, better, and longer than they have been able to in the past. Consumers should take advantage of the extended cannabis holiday season to get mega deals on products, especially flower.