420 Boosts Cannabis Sales Again in 2019, Data Shows
In recent years, it’s basically become an annual tradition that 420 breaks the sales records, as new markets continue to open across the U.S. This year was no different, according to three of the cannabis industry’s top data companies: Seed, Flowhub and Headset.
In its report on 2019’s 420 trends, cannabis industry analysis company Headset’s first and biggest takeaway was that, despite four years of legal marijuana in certain parts of the U.S., the novelty has certainly not worn off.
Headset reported that, this year, 420 saw a sales boost that slightly exceeded predictions. Sales were up 128% around the country, compared to the four previous Saturdays. Headset had originally predicted it would be around 100% and 120%.
The report also found that the night before 420 was popping, too. Headset said Fridays are already the most popular days for legal pot purchasing, but this one saw a sizable boost of 27% over the previous four.
Headset produced its report from real-time sales data reported by participating cannabis retailers via point-of-sale systems, which are linked up with Headset’s data analytics platform. The numbers in the report are based on data collected from retailers on April 20, 2019 and the four previous Saturdays.
Meanwhile, Flowhub collected data on the holiday from seven states. Their biggest takeaway was that total sales increased by 7%. There was also a 9% increase in both the total number of people coming through the doors of the dispensary from last year and the number of transactions they made.
Consumers in Maryland were hit the hardest in the wallet. There, the average sale amount before taxes was a whopping $105. Meanwhile, in Oregon, people spent an average of only $36 and likely walked away with more than an ounce in plenty of dispensaries. In other developed markets like Nevada and Colorado, prices were in the mid $50s, but prices jumped when you got to the world’s largest legal marketplace in California. The average purchase in the Golden State was $76.
The Demographics of 420 Shoppers in 2019
According to Seed, the folks making their way to dispensaries for 420 were experienced buyers. In the week before the holiday, beginner users made up 40% of the people that made their way into dispensaries. On 420, that number dropped 15%, with only a quarter of customers being new users. The lion’s share of holiday shoppers were intermediate, as they made up nearly half of all customers.
Who were these shoppers? Seed’s data showed 67% of all 420 shoppers were men between the ages of 21 and 34 years old. Senior citizens appeared to want nothing to do with those hyphy whippersnappers, as shoppers over the age of 55 made up only 4% of the people that visited dispensaries on 420. People over the age of 45 only made up 13%.
Another trend according to Seed was that women over the age of 35 showed up less than expected compared to the weeks prior.
What People Bought on 420 in 2019
While the world of cannabis products is expanding fast, flower is still king. While Colorado saw flower make up 8% less of all total purchases this year compared to last, flowers still made of over half of all purchases, according to Flowhub. Concentrates made up a third of all purchases, and basically, everything else was spent on edibles.
Headset said the common thing about the products that saw the most growth this year was they were ready to consume as soon as people walked out. The area that saw the most growth was beverages, which saw 136% sales growth.
Headset said it was also a huge day for moving inventory. The holiday itself moves 12% of all the product sold in April up to 420.
TELL US, what did you buy on 420 this year?