Cannabis industry’s best source of retail sales data analytics investigates sales from last year’s celebration, looks ahead to this month’s party
FOR IMMEDIATE RELEASE
Douglas Brown, Contact High Communications, email@example.com 303-241-0141
Boulder, Colorado — April 8, 2016 — Hallmark hasn’t leveraged its formidable marketing muscle to promote 4/20 — not yet, at least. Nevertheless, an analysis by the cannabis industry’s premiere source of data intelligence finds that April 20 and the days surrounding it have clearly, and emphatically, emerged as the cannabis industry’s principal holiday, with dramatically boosted sales. One thing 4/20 has in common with more traditional holidays like Halloween and Valentine’s Day — lots and lots of candy!
BDS Analytics’ close analysis of cannabis sales during last year’s festivities, based on hundreds of thousands of retail transactions worth millions of dollars in Colorado and Washington, draws a range of fascinating 4/20 conclusions. Among them:
- The four days leading up to, and including, 4/20 in Colorado captured three of the most lucrative cannabis sales days during all of 2015.
- Washington’s sales were less dramatic, at least when compared to the months following 4/20. But 4/20 sales did spike, and BDS Analytics anticipates sales this year tripling or even quadrupling last year’s numbers.
- Sales in Colorado this year should exceed $5 million per day from Friday, April 15 to Wednesday, April 20. One of the days should exceed $6 million.
- Edibles — here we go with that candy — received a sweeter 4/20 boost than flower in Colorado. Look for puckered-up consumers as sour gummies take top share in candy sales this year.
- Candy bars’ selling price in Colorado increased the most last year, vaulting 4% from $15.62 during the rest of April to $16.27 per unit during 4/20.
- Flower in Colorado commanded $5.77 per gram during 4/20, a 13% drop from $6.67 in the rest of April.
- Colorado should harvest about $4.5 million in cannabis sales tax revenue during this season’s six-day celebration.
“We knew, of course, that 4/20 is a retail bonanza for cannabis brands, dispensaries, grows and more,” said BDS Analytics founder and CEO Roy Bingham. “Our data reveal its powerful impact. Most cannabis businesses should benefit from 4/20, and our GreenEdge™ technology helps them plan for the holiday and beyond.”
For more fascinating glimpses into consumer behavior surrounding 4/20 in Colorado and Washington State, please refer to the attached presentation for a detailed analysis.
About BDS Analytics: Relying upon powerful technologies, partnerships with cannabis companies and a team of data veterans, BDS Analytics provides the cannabis industry with the most precise, reliable and sweeping data analysis in the marketplace. For most companies competing in the blossoming world of commercial cannabis, BDS Analytics’ GreenEdge™ service offers vital business information — essential intelligence for marketplace success.