The holiday season is here, and while most industries will see a slight decline in profits, marijuana sales are expected to go up. Reports from Leaflink show that cannabis sales rose by more than 30% in the week leading up to Christmas last year, in comparison to the previous four weeks of 2020. Additionally, sales on Christmas Eve last year rose by 61%, in comparison to the previous four Thursdays.
Leaflink, a unified marijuana platform, also reports that on the days leading up to Green Wednesday November, they saw an increase of more than 10% in sales. If sales from Green Wednesday are any indication, the cannabis market will see a significant jump in sales this year.
Glass House Brands Inc., a company based in California, also saw an increase of more than 40% in its sales across its locations on Green Wednesday, compared to the 2020 sales day. This was the same case for Jushi Holdings Inc. and Beyond Hello, its retail brand, which saw an increase of more than 110% in Green Wednesday sales, in comparison to the prior year’s sales.
The rep for Terrasana, a dispensary chain in Ohio, stated recently that the company expects December to be its highest-grossing month in 2021. Expectations grew after Terrasan increased transactions and revenue by 33% and 23% respectively in November.
eCommerce retailers also expect sales to increase this month. Tyler Browne, the owner of To the Cloud, an online retail vapor store based in California, stated that he expected sales in December to be good for the whole marketplace, in particular those looking to begin anew next year. He added that while sales for 4/20 in April were great, marijuana was becoming mainstream, which caused the weed holiday to be less impressive because every day was 4/20 for most consumers.
However, not every part of the marijuana industry sees an increase in sales during the holidays. For instance, cultivators are busiest in April because that’s the time for harvest and in October, when new cultivators are introduced. Once the plant is harvested, other companies are given the task of processing and packaging the product.
Grove Bags is one of the companies that does this. Chief of Staff Jeffrey Eisenstodt revealed that the company’s busy season began in the summer and peaked in September or October. He added that while the holiday season was good for marijuana purchasing, it marked the end of the harvest season and a downturn in demand for packaging.
Not every company is likely to see a meaningful spike in their sales activity this festive season, unless they have gone out of their way to manufacture the best possible products while also nurturing their brand in the way that some leading entities, such as Cannabis Strategic Ventures Inc. (OTC: NUGS), have been doing.
NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS
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