4/20 Sales: What to Expect in 2022 – Cannabis News, Lifestyle

April 20th (ie April 20th) is one of the most important days for cannabis connoisseurs. There are many legends about how it started. However it started, for many, smoking a joint at 4:20 p.m. on April 20 is like kissing on New Year’s Eve. For the industry, 4/20 sales are like Thanksgiving, Christmas and Boxing Day rolled into one. And now that cannabis has been legal in many jurisdictions for several 4/20 years we have a pretty good insight into sales, popular categories, which discounts are popular and which are not. And how one customer reacts to 4/20 sales is not the same as the other.

Looking at last year’s 4/20 sales, we see an increase in total sales and discounts in both Canada and the United States. Driven by an increase in transaction volume, overall sales come from regular buyers and cannabis newbies. This means that people who do not regularly buy cannabis do on 4/20. the exception. For example, sales on 4/20/21 show a 52% increase in Canada and an 86% increase in the US compared to the previous four weeks. Among demographics, enthusiasm is most prevalent among younger people. Sales by Gen Z customers increased by 168% on 04/20/21 compared to the previous four weeks. Compared to the 91% increase in baby boomers.

4/20 sales and discount trends

Among popular US legal markets (California, Colorado, Nevada, Oregon and Washington), 4/20 sales doubled average sales from previous weeks. Discounts also increased, but were offset by growth in overall sales. The year 2020 is an exception. Once anticipated as the stoner’s anniversary (since you could smoke at 4:20 p.m. on 04/20/2020), the coronavirus and state lockdowns ended most celebrations. 4/20 sales in 2020 were lower but with a higher discount amount. 2020 was also the only year in which the 20.04. wasn’t the busiest day. Silvester won this year.

Cannabis sales are also increasing every 4/20 in Canada. Even in 2020, sales grew 66% from 4/20. Interestingly, the increase in sales in 2021 was only 59%. Discounts are more popular in the Canadian market than in the US. This is offset by the fact that year-round average discounts are harder to come by in Canada than in the US.

Cannabis drinks will be available on April 20th. very popular

What kind of products are people buying?

While 4/20 sales are consistently high, individual product categories experience varying rates of growth. Drinks remain the crown jewel on April 20th. Drinks tend to be most popular on public holidays. Edibles and flower are doing well, while tinctures, topicals, and capsules aren’t seeing the same increase in sales.

Interestingly, the data shows that vape pens on 4/20 are not that popular. This is surprising given that vape pens, which are usually expensive, will be sold on 4/20. receive discounts.

Regardless of what products people buy, overall transaction volume increases. People just buy on 4/20. more cannabis products than on a normal cannabis shopping day. Of course, the 4/20 sales are influenced by the significant discounts that can be discovered.

Trends in category market share

Are 4/20 sales consistent year over year? A lot can happen in a year and staying up to date with the latest trends is crucial. Comparing the category market share from March 2021 to February 2022, we see some big changes. The flower market is down 5% while the pre-roll market is up 25%. Vape pens are more popular now than they used to be (up 14%), as are edibles (up almost 12%). Despite having a market share of just 12.3%, pre-rolls are present in nearly a third of all cannabis transactions.

Why buy flowers when the joint is already rolled?

4/20 sales by customer gender and age

Who is shopping for 4/20 sales? Female customers are responding strongly to the 2021 holiday compared to males. Female cannabis sales are up 140% in the last four weeks. Gen Z female consumers are the clear winners with a 150% increase in transactions.

As previously mentioned, younger 4/20 customers are more enthusiastic than older customers. Sales to Gen Z almost tripled as of 04/20/21. Meanwhile, Gen X and Baby Boomer sales haven’t even doubled. COVID may have influenced this trend as younger customers are more willing to socialize and expose themselves to the virus. However, this trend also applies to 2019.

Bring away

As more legal markets open and more players get involved, you can expect this year’s 4/20 sales to increase by at least 100% in the US and 50% in Canada. Customers expect discounts and a constant supply of drinks, edibles and pre-rolls.

A massive surge in transaction volume causes 4/20 sells. People who don’t normally buy cannabis do so on 4/20. And most of these customers are young women.

Plagued by two years of COVID restrictions, this year’s 4/20 may offer some surprises in sales data. But so far, based on past trends, we can expect this for 04/20/2022.