How much sales will the cannabis industry get this Christmas season?

By Andrew Ward

The holiday season is on and so is the sale. The cannabis industry is no exception, with sales expected to be strong again in December.

Data company SheetLink reports that sales for the week leading up to Christmas 2020 (December 21 to December 24) increased 33% compared to the previous four weeks. Christmas Eve saw a 61% increase compared to the previous four Thursdays.

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“December is a massive month of cannabis sales, with sales coupled with other major cannabis issue days such as April 20th, Green Wednesday and Black Friday,” said Akerna Corp. CEO Jessica Billingsley who added that December 23 and December 31 were two of the top three sales days of 2020, grossing $ 87.4 million and $ 89.4 million, respectively.

“While I can’t beat the 4/20 this year, which was the biggest sales day for the industry at $ 118 million, I expect a couple of December days to hit the top 5 of the year.” added.

A strong December is expected as Green Wednesday wins

History shows that 2021 should bring another strong performance to the market. If November Green Wednesday sales are any sign of this, the market could expect another massive spike in sales as the gift dates draw near.

The first few days of the month did not reveal much in terms of knowledge. However, the returns on sales on Green Wednesday 2021 suggest that consumer demand continues to rise. LeafLink reported that sales through its website were up 10.61% in November through Green Wednesday.

Cannabis delivery platform Lantern reported record days on Monday, Tuesday, and Green Wednesday, and saw a 44% daily increase on Green Wednesday in Michigan, Massachusetts, and Colorado compared to previous days.

Based in California Glass House Brands Inc. recorded a 41% increase in sales at its four locations compared to the previous Green Wednesday. Jushi Holdings Inc. and its retail brand Beyond / Hello saw a 120% year-over-year increase on Green Wednesday.

A representative of the Ohio pharmacy chain Terrasana Benzinga said December is expected to be the company’s busiest month for sales for the year.

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Expectations rose after the company increased revenue 23% and transactions 33% year over year in November 2021.

E-commerce retailers also expect a sales boom in December. Tyler Browne, California online retailer owner To the Cloud Vapor Store said Black Friday and Cyber ​​Monday sales herald the December shopping season.

He added that December sales should be good for the entire market, especially those looking to restart in 2022. “This also serves as a time for retailers to liquidate their inventory before the new year.”

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Most sources say that while the Christmas season has several shopping days that are close to 4/20 sales, nothing really compares. Overall, however, December is proving to be a more lucrative month for retailers like Browne.

“While the sales in April for April 20th. are great, cannabis goes mainstream and 4/20 loses its appreciation when every day is 4/20 for most, ”he said.

Holidays aren’t the busy season for every cannabis sector

Not every part of the industry sees business heat up during the Christmas season. For some, like those in cultivation and packaging, this means a loss of work and profit.

The April harvest is a busy time for growers, as is October when the new varieties hit the market. Once harvested, companies like Grove bags are responsible for handling the product.

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Jeffrey Eisenstodt, Grove’s chief of staff, told Benzinga that their busy season starts in early summer and peaks in September or October. While looking forward to consumers during the holidays, he said the season means a drop in packaging demand.

“While the Christmas season is a boom for cannabis purchases, it marks the end of the harvest season and brings with it less packaging expense,” he said.

Eisenstodt added, “Securing inventory, preparing marketing and other activities are time consuming for cannabis operators and they consume most of their energy during the period.”

This article originally appeared on Benzinga and was republished with permission.