Memorial Day Weekend is host to hundreds of thousands of retail sales every single year. Around this time of year, you can’t turn on the tv, radio, open Facebook, or your email without some Memorial Day advertisements broadcasted your way. The cannabis industry is no different. The holiday weekend is a historically high sales day for the cannabis space. But according to BDSA, Memorial Day Weekend in 2021 will be unlike previous years and surpass year-over-year growth seen in 2020.
Friday is the star of cannabis sales over Memorial Day Weekend
BDSA’s newly-released report about cannabis sales over the three day weekend predicts Fridays to be the best sales day between the Thursday, Friday, and Saturday before Memorial Day. Previously, the Friday before Memorial Day Weekend has been the highest cannabis sales day throughout the month of May, with inhalable consumption methods driving the holiday mania.
This is likely because of the outdoor-type gatherings Memorial Day Weekend brings. Everyone is outside, lighting the BBQ grill, and apparently: smoking a lot of weed. BDSA says 50% of people consume for “daytime fun”, which is right in line with the festivities leading up to Memorial Day.
Colorado to make up 25% of sales on Thursday and Sunday
Thursday and Saturday still draw a crowd, however. The report says Thursday, Friday, and Saturday will be blockbuster sales day in the cannabis industry and 25% of the growth seen on Friday and Saturday will be thanks to transactions in Colorado.
According to cannabis enterprise software company Akerna’s flash report, Memorial Day Weekend will gross approximately $238,000,000 in recreational and medical marijuana sales over the four day period, Friday to Memorial Day on Monday. According to the report, consumers under the age of 40 will be driving 61% of cannabis sales.
Like the BDSA report, Akerna predicts Friday to be the highest sales day of the weekend, grossing $85,000,000. If sales reach this number, it’s up 55% from average sales on the Friday before Memorial Day.
Cannabis beverages are hot for summer
Many predicted cannabis beverages to surge in popularity in 2021. Edibles are already taking the industry by storm. Cannabis data analytics company, Headset, recently reported edibles grew by 60% across seven legal markets in the United States. This includes market share, according to Headset data analyst Cooper Ashley, who said they increased from 10.65% in 2019 to 11.07% of the market share in 2020.
It’s possible cannabis beverages could be the product of the summer, filling backyard coolers and poolside drinks all summer long. We’ll find out after Memorial Day Weekend is over!