Move over, 4/20, there’s a new cannabis “holiday” to be celebrated. July 10, also known as 7/10 has been fondly named “Dab Day” within the cannabis community. Spelling “OIL” when flipped upside-down, 7/10 is the day when cannabis concentrates and extracts are celebrated, and sales data is showing that cannabis consumers are eagerly participating in the celebration.
Green Market Report obtained data from both Flowhub and Headset demonstrating that consumers are happily opening their wallets on 7/10, making major dents in weekly and monthly sales. Here’s what we found out:
Flowhub tracked sales data for Tuesday, July 10, 2018, across Alaska, California, Colorado, and Oregon markets. They found that on this day, concentrate sales increased 28%, and transactions increased 23% more than the average Tuesday. Overall sales increased 18%, with transactions increasing 13% and the average sale amount increasing 7%.
What kinds of concentrates and extracts are people buying on 7/10 in these states? Shatter sales reign supreme at 42.4%, with cartridges following at 21%, and wax at 17.5%, with unspecified products and live resin making up the consumer’s basket profile.
Still, according to Flowhub, 7/10 in 2018 didn’t come close to 4/20 of that year, with 4/20 beating 7/10 sales by 64%. Overall, with 7/10 concentrates and extract sales increasing, and the awareness of the holiday building, people are buying more concentrate cartridges, with this market seeing a 94% increase in sales since 2016.
Similarly, Headset compared the average sales data from the 4 previous Tuesdays to July 10, 2018, across the Washington, California, Nevada, and Colorado markets.
Headset found that total cannabis sales in these states went up 10% on Dab Day in 2018, with concentrates (up 49%) and vape pens (up 36%) driving sales for that day. While flower sales remained relatively unchanged, people were buying more beverages (up 24%) and capsules (up 36%).
Washington saw the biggest sales increase of concentrates, up 100%, while Colorado trailed behind at an increase of 78%. These states also saw the highest sales increases for vape pens, up 45% in Washington, and 57% in Colorado. Headset speculates that this is likely due to these markets being the most mature recreational markets, with Dab Day making a greater permeation in the cannabis culture of these states.
In these states, Live Resin reigned supreme, taking 30% of sales, while wax and shatter both saw a 23% increase in sales. Headset expects the numbers to increase for this 7/10/19.
With the popularity of 7/10 and cannabis concentrates rising, Green Market Report expects that we’ll see unprecedented sales for these products in all recreational markets.