Data collected shows that cannabis sales were higher on 4/20 in line with the predictions that had been made regarding the effect of the marijuana “holiday” on sales. Headset, a cannabis industry analysis company, had initially predicted a 100 percent increase in sales on that day.
The data that they collected shows that marijuana sales on 4/20 actually exceeded what had been predicted since sales increased 128 percent when compared to the volume of sales registered on the previous four Saturdays.
The report released by Headset also shows that the “eve” of 4/20 was also good for cannabis retailers since sales increased by 27 percent when compared to the sales of the previous four Fridays. Historical data shows that Fridays are normally good days for cannabis businesses, so the fact that this particular Friday happened to be the “eve” of 4/20 provided an added reason for marijuana users to open their wallets.
The report released by Headset was based on real-time data collected via the POS (point-of-sale) systems of cannabis retailers who agreed to link their systems to the data analytics system of Headset.
In terms of sales data from different states, shoppers in Maryland spent the most on cannabis on 4/20 because the average shopper spent approximately $105 before tax on that day. Shoppers in Oregon spent the least amount on that day, with the average amount spent by each buyer totaling just $36. More mature cannabis markets like Colorado and Nevada saw the average expenditure being about $50 while this figure jumped to $76 when the data on the largest marijuana market in the world (California) was analyzed.
In terms of experience level, just 25 percent of buyers where beginners while the majority of the people who bought cannabis on 4/20 were intermediate users of pot.
Two-thirds of marijuana shoppers on the holiday were people aged between 21 and 34 years of age. Senior citizens (aged 55 and above) only took 4 percent of the population of cannabis shoppers on that day.
More than half of all cannabis buyers bought cannabis flower while a third of the buyers purchased cannabis concentrates. Marijuana edibles completed the list of the products most bought on 4/20.
A further analysis shows that the most popular items on that day were the products that could be consumed as soon as a shopper left a dispensary or retail outlet. Cannabis beverages therefore registered a 136 percent growth rate when compared to other products.
Global Payout Inc. (OTC: GOHE) and Geyser Brands Inc. (TSX.V: GYSR) are pleased to learn that the findings of the sales data on 4/20 shows that despite increasing legalization across the U.S., cannabis hasn’t lost its novelty among buyers.
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