4/20 has been the biggest selling day for weed states used by adults every year since 2016
For the second year in a row, the pandemic has forced this year’s 4/20 gatherings, celebrations, and festivals to either cancel their plans or go online. However, the lockdown hasn’t stopped people from celebrating this major holiday with their closest friends and family, and legal weed dealers are still expecting record sales this year.
The cannabis industry has good reason to be optimistic. April 20 has been the biggest adult sales day of each year since states began legalizing the sale of recreational pots, according to a new report in the Marijuana Business Daily. The share of total sales on April 20 has also risen steadily year-on-year.
According to cannabis analysis firm Headset, legal weed stores in California, Colorado, Nevada and Washington sold a pot worth $ 90 million in the week of April 20, 2018. The following year, that number rose to $ 130 million. and despite the pandemic, those states still managed to sell a legal pot worth nearly $ 160 million in the week of 4/20/20.
These data also show how the 4/20 holiday helps the legal weed industry get through their leaner months. In general, weed sales are much stronger in summer and December and weakest at the beginning of the year. When looking at the top 10 sales weeks for these four states from 2016 to 2020, Headset found that none of those record weeks happened in January, February, March, or May. Thanks to 4/20, three of these states had a top 10 week of sales in April.
Unfortunately, the 4/20 sales rush is usually followed by one of the worst sales weeks of the year. The data suggests that customers wait for Christmas sales and promotions to start and then stock up on enough pot to last for at least a couple of weeks.
The day April 20th falls also affects sales. In 2018, when April 20th was a Friday, a third of all weed sales for the week were made on that day. In contrast, April 20 fell on a Monday last year, and that day was only 18.7 percent of the week’s total sales.
As the pandemic drags into year two, industry analysts are struggling to predict how this year’s 4/20 sales will perform. The U.S. weed industry sold nearly $ 18 billion worth of weeds in 2020. The monthly trends already suggest that total adult sales in 2021 are on track to grow even further. In the past week alone, California, Colorado, Nevada, and Washington combined sold a pot worth over $ 175 million – more than the week of April 20th.
Because of these trends, it is likely that this year’s 4/20 sales will continue the trend of annual growth. And now that four more states voted to legalize weeds this month, people have even more reason to celebrate.