4/20 Archives - Green Market Report

StaffStaffApril 20, 2018
420-2-1280x893.jpg

4min24780

The promotions for 4/20 continue to get bigger and splashier with free pound raffles becoming the trend for this year

Denver

Diego Pellicer (DPWW) in Denver has a promotion where with each purchase between April 1 and April 27 enters customers into a raffle for a chance to win. The grand prize “pound” winner will receive a total of 16 ounces of marijuana, to be purchased in separate increments for $1 each ($1,600 retail value). The second place winner will receive a total of $28 grams of cannabis concentrate, also to be purchased in separate increments for $1 each ($504 retail value). The third place winner of the legendary seven-gram Cannagar will receive it for only $1 ($225 retail value). The winners will be drawn on April 27 at 4:20 p.m.

The first 250 people in the store on April 20, 2018, will receive a limited edition Diego Pellicer t-shirt with a silhouette of Diego Pellicer himself as well as a gift bag with coupons. In addition, the store has taken over the front cover and back page of the local Westword entertainment guide and included a golden ticket insert redeemable for various prizes. Look for coupons including $15 for an 1/8 oz., $18 grams of concentrate and 20 percent off edibles all week.

Las Vegas

Las Vegas cannabis dispensary The+Source is giving away one free pound of flower and hosting blazing block parties at both locations starting at 10 a.m. on Friday, April 20.

A pound of cannabis will be given away at a raffle held at 4:20 p.m. at the Las Vegas location. Patrons may qualify by earning green tickets from Friday, April 13 through Thursday, April 19.  One green ticket will be earned for every $200 spent or three for every $420 spent throughout the week at The+Source.

Local cannabis vendors and related companies including Matrix, Dixie, CW Nevada, O.penVAPE, VERT, District and Integral Associates will host pop-ups for merchandise giveaways, eating competitions, live entertainment and more.

4/20 specials that will be offered from Friday, April 13 through Thursday, April 19 will include flavored 500 mg disposable pens for $20, one half-ounce of Pineapple Express or Tangie popcorn buds for $100, Dixie 80 mg Awakening Mints for $10 and 20 percent off all O.penVAPE, VERT and District edible products.

Hello Guv’ner – Arizona

Arizona’s independent candidate for Governor Noah Dyer announced a 420 Raffle.

The campaign will raffle off 4 prizes of $420 each to be given to 4 Arizona medical marijuana cardholders for use at the dispensary of their choice.  To enter the raffle, participants simply need to sign Noah¹s online petition.

Dyer has been a vocal supporter of both medical marijuana and adult-use cannabis.  He is the only candidate with a comprehensive common sense cannabis policy. Noah has been openly critical of Doug Ducey and other politicians who have harassed cardholders, doctors, dispensaries, and other businesses and members of the cannabis community.


Peggi CloughPeggi CloughApril 19, 2018
420-2-1280x893.jpg

5min17790

A recent study done by LeafLink predicts that this 4/20 will be the first ever to have retail sales top $1B, even reaching as high as $1.2B, based on their wholesale marketplace figures.

LeafLink, a B2B e-commerce marketplace for cannabis, used proprietary data and sales figures to predict sales for this 4/20 holiday. They also identified that buyers are purchasing branded products rather than regular cannabis for their 4/20 celebrations.

The study found that the buying patterns of cannabis companies around the 4/20 holiday actually benefit consumers. The market, especially the recreational one, is so competitive that there’s little room to raise prices, even at a time when there will be more sales. As long as new brands are popping up monthly, a particular product may have 10 other competitors in the same store, leading to near-saturation of some product markets.

March was in the top three ordering months for retailers on LeafLink last year—with purchases 14 percent larger than in average months. These orders were actually 24 percent larger than those placed in April. This shows most retailers were already prepping for 4/20 a month ahead of time. In March of both 2017 and 2018, LeafLink’s retailers in Colorado spent 50 percent more on LeafLink than they did in February. March 2018 saw over $29M in orders placed, with the online marketplace’s annual sales being $356M.

It’s not only retailers that are increasing their 4/20 supply. According to Flowhub, in 2017, total sales of cannabis by consumers on 4/20 represented a 44 percent increase from an average Thursday and 30 percent more than an average Friday. The number of people who checked into dispensaries on 4/20 increased by 40 percent from a typical Thursday and by 28 percent from a typical Friday. Flower was the top seller, with the equivalent of nearly 900,000 bowls sold.

This year, LeafLink created a “Cyber Monday” promotion on 3/20 to prepare for 4/20. They say people are driving from other states to purchase cannabis for the holiday, so competition to win over their business is aggressive. They discovered that retail dispensaries are eager to capitalize on 4/20. They buy in bulk, due to the industry’s banking restrictions that limit purchases they can make over time. Although other industries don’t have these constraints, cannabis companies have figured out how to work within them.

The Cyber Monday campaign was a success; products that were featured had an average increase of 31 percent over those not included in the special. Edibles were the biggest hit—some had more than double the orders over the previous week.

While LeafLink predicts 4/20 sales may peak someday, they don’t see that happening in the next five to 10 years. During this time, they foresee the month prior to 4/20 being the best time for sales, with people continuing to travel to recreational states for 4/20. They also believe the influx of new products and brands will remain high in the near future.

The 4/20 information and data provided by LeafLink can help cannabis retailers and companies by giving them a look at demands and buying patterns, not only of customers but also of the industry. The study shows that it’s worth the investment for cannabis companies to stock up on products in March to prepare for the 4/20 rush.

 



About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 1 day

RT : ICR was recently ranked in the 2020 List of the Top 11 Most Effective PR Firms. Learn more about th…

Back to Top

You have Successfully Subscribed!