Tuesday is April 20, aka the unofficial stoner holiday 420, and many cannabis growers, dispensaries and delivery growers are anticipating a bump in business as more states legalize recreational marijuana, and cities and states continue to reopen now that more than half of American adults have received at least one dose of a COVID-19 vaccine.
Cannabis software firm Akerna Corp recently reported that it expects national cannabis retail sales to hit $95 million on 420, with total 420-related sales ultimately hitting $370 million in the U.S. According to Akerna, the average order will be $10 higher than usual as customers spend $105 apiece on average, with buds or flowers accounting for about half (49%) of all legal sales, followed by vape pens and cartridges. And the number of cannabis products purchased is expected to increase 30%.
That’s not the only optimistic outlook. “We estimate that during the week of April 20 this year, average daily sales in U.S. recreational markets will increase by at least 30% over the previous four weeks,” Cooper Ashley, a data analyst at cannabis business intelligence firm Headset, told MarketWatch over email.
… And Lisa Schaefer, director of marketing at cannabis cultivator Mayflower, said that the 420 season is a high time to attract new customers. “For instance, our Mayflower recreational dispensary in Worcester, Mass., saw an 83% increase in new customer acquisition on April 17, the day of our 420 Event this year,” she said. “Perhaps all the hype of the holiday inspires the canna-curious to give it a try!”