4th of July Archives - Green Market Report

Joanne CachaperoJuly 7, 2022
shutterstock_526319929.jpg?fit=960%2C528&ssl=1

8min90

Canna-tech companies were busy over the long 4th of July weekend, analyzing sales data from their various platforms for what was expected to be one of the biggest weeks of the year for cannabis retailers. In Canada, the national holiday Canada Day is celebrated on July 1, with vendors hoping for a holiday spike in sales.

Last week canna-tech company Surfside predicted that the Thursday before the 4th of July, 2022, might be the busiest day of the summer in the U.S. Their analysis also indicated that Fridays in the summer have a magic of their own and consistently saw increased sales compared to other days of the week and Fridays during other times of the year.

Pregaming the 4th

According to data analyzed by canna-tech companies Akerna Corp. and Flowhub, the Friday before the 4th of July turned out to be the big day for retail sales in the U.S. 

Akerna (NASDAQ: KERN) said that according to their data, Friday, July 1,  became the second highest-grossing sales day for 2022, with USD $106.7 million in sales. Data from Akerna’s MJ Analytics platform indicated that compared to $89.6 million in sales on the same day in 2021, this year showed a 19.1 percent sales increase. Monday, July 4th, had lower sales, which was attributed to stores being closed for the holiday. 

Data from Flowhub’s platforms said sales on Friday, July 1, were up 15 percent compared to a regular Friday. The Saturday and Sunday before 4th of July saw a five percent increase each day, while the 4th of July saw a scant two percent increase. Flowhub added that 33 percent of sales on their platforms for the holiday weekend included a discount. 

Delivery and distribution company Lantern said sales were strong before and throughout the weekend, with customers purchasing “flower, then edibles, and then vapes, (with) more customers than usual who bought drinks and pre-rolls.”

SpringBig, a company that develops customer loyalty program technology for cannabis vendors, said their platform saw a slight increase in overall sales, with $16.9 million this year, compared to $16.8 million for the same weekend last year. “The sales and loyalty redemptions numbers are almost identical between last year and this year,” they said.

Canadian Declines

Data company Headset saw declines in sales this year, specifically on Canada Day and July 4th.  

In Canada, on July 1, Headset noted an average decline in sales of 23 percent across all provinces, with Ontario experiencing the biggest drop at 29 percent. Across product categories on Canada Day, there was a decline in sales for typically popular items including “vapor pens (-27%), flower (-25%), oil (-22%), and concentrates (-19%).” The company did not have comment on what may have triggered sales to trend lower or if sales prior to Canada Day were elevated.

In the U.S., July 4th saw a 6.6 percent drop in sales, compared to the four previous Mondays. Across product categories, Headset data indicated, “Not all products fared the same with Pre-Rolls  actually seeing an increase in sales of +6% on July 4th while Topicals and Capsules (traditionally consumed in a more health and wellness setting) saw declines of -17% and -28% respectively.”

Dab Day Outlook

With medical and adult-use cannabis vendors now looking forward to July 10 – aka 7/10 or cannabis concentrate event Dab Day – it remains to be seen if the little-known cannabis holiday will grow in popularity. With looming global recession, worsening inflation and market mayhem in effect, consumers may be looking for bargains or more conservative with spending, though July typically sees higher overall sales than other months of the year.

In comparison, Headset shared insights for Dab Day 2021 with Green Market Report after last year’s holiday. Their data indicated that U.S. sales increased slightly, while 7/10 sales in Canada remained flat:

  • Total Sales Growth: On Dab Day 2021 (7/10/21) total US cannabis sales slightly increased by 3.3% over an average of the previous four Saturdays. Canadian cannabis markets experienced more or less flat sales over the same time frame with a decrease in daily sales of -0.7%.
  • Category Sales Growth: US cannabis customers showed up for ‘Dab Day’ 2021. Concentrate sales increased by 67.4%, and was the category with by far the highest sales growth on that day.  Vapor pens, which we’ve seen also get a little lift from ‘Dab Day’ in the past, increased in sales by 7.1%.  Unlike the US, ‘Dab Day’ was not as successful in Canada; concentrate sales increased by only 5.5%. 
  • Concentrate Segment Growth: In the US on Dab Day 2021, Rosin products had the strongest growth, increasing in sales by 213% over the previous four Saturdays. HTE (+153.4%) was the next most successful segment. 
  • Dab Day Discounts: Dab Day was a fantastic day for American concentrate fans to stock up on products this year. In the US the average discount on concentrates grew by a whopping 60%, rising from 16.0% during the previous four weeks to 25.6% on 7/10/2021.

Joanne CachaperoJune 29, 2022
shutterstock_526319929.jpg?fit=960%2C528&ssl=1

11min60

If predicted trends prove to be true, this Thursday, June 30, may be the busiest cannabis retail sales day for summer 2022, as Americans in legal states get ready to celebrate the long 4th of July weekend. Cannabis consumers are likely to celebrate independence by indulging in their favorite flower and other products that enhance a day at the beach, backyard BBQ with friends, or summer vacation in some legal destination.

Canna-tech company Surfside Solutions’ recently released its first-ever Summer 2022 Ad Planner for cannabis retailers. According to Surfside’s data analysis, several important factors are aligning that may result in a busy July 4th weekend for dispensaries and retail shops. The report “analyzed millions of cannabis transactions across dispensaries and websites from May 2021 to September 2021 to help understand future trends.”

4th of July

July is the busiest summer month for cannabis retailers, Surfside said. The Thursday before the 4th of July was the single strongest retail cannabis sales day of the summer, and the Friday before 4th of July showed 57 percent greater sales than an average day in July. This year, with July 4th falling on a Monday, there seems little doubt that locals and travelers alike will take advantage of the long weekend. 

Fridays, from June through August, possess a power of their own with an average of 41 percent higher sales than Fridays during other times of the year. At either end of the summer season, the Friday before the long Memorial Day weekend averaged a 69 percent increase in retail sales, while Labor Day Friday showed a 65 percent more sales. 

Though time is short for advertising aimed at 4th of July customers, July 10th – also known as cannabis holiday Dab Day for concentrate enthusiasts – is on the following Sunday. For the uninitiated – when viewed upside down and backward, the date 7/10 spells “oil,” the most common form of concentrate. Though nowhere near the popularity of the 4/20 holiday in April, Surfside suggested that retailers send Dab Day advertising starting on July 5, with special offers on concentrate products. 

Cannabis data company Headset in early June released an analysis of concentrate sales data from California, Colorado, Washington, Nevada, Oregon and Michigan in the U.S., and the provinces of Alberta, Ontario, British Colombia, and Saskatchewan in Canada.

“Since our last [October 2021] report on concentrates, market share to this category has increased in Canada (up from 2.9%) and decreased in the U.S. (down from 9.5%). In Canada, concentrates are the third best-selling ‘Cannabis 2.0’ category behind vapor pens and edibles. In both countries they are the fifth highest revenue product format behind flower, pre-rolls, vapor pens, and edibles,” Headset said. The report also noted that Boomer consumers were least likely to purchase concentrates; various forms of concentrate were most popular with male Gen Z consumers.  

In Pennsylvania, patients will be able to purchase cannabis vape products after a mid-June ruling overturned a February recall and sales ban on more than 670 cannabis vape products, mandated by the state’s Department of Health. Health officials had cited the use of terpenes (botanical compounds that can be derived from cannabis and other plants, commonly used for flavorings or adaptogenic effects) in concentrate formulations as the cause for the ban. The injunction handed down by the Commonwealth Court allowed vape products back on shelves in Pennsylvania’s medical dispensaries; the state has not yet approved recreational sales. 

Beverages

A cannabis product category that has seen steadily increasing consumer interest – maybe, especially on long, lazy, hot summer days – are THC-infused adult beverages.

“Since the launch of beverages in Canada around January 2020, market share of this category has seen significant growth until reaching a peak of 2.1 percent of the total Canadian market in December of 2021. With a long history of beverages in the U.S., market share has experienced slower, more consistent growth in the U.S. over the same time period,” said Headset’s Cannabis Beverages: A look at Category Trends & Performance report.

Headset’s data indicated also that California leads the infused beverage market, and “by the end of 2021, California had doubled their product offerings to just over 530 distinct cannabis beverage products.” Canadian consumers purchased more carbonated beverages, though, while “drops, mixes, elixirs, and syrups,” made up more than 27 percent of American beverage category sales. 

Just in time for summer, artisan soda company Jones Soda recently released an infused offering, Mary Jones sodas formulated with 10mg of THC per bottle, in Berry Lemonade, Orange and Cream, Green Apple and Root Beer flavors. A 100mg THC-infused canned soda is coming soon, according to a company announcement, as well as a 1000mg “syrup” tincture that can be added to beverages. 

“Jones Soda is a legendary brand built from bold flavors and doing bold things,” said Bohb Blair, a chief brand officer at Mary Jones Cannabis Co. and chief marketing officer for Jones Soda Co. “Whether you’re a canna-newbie or a cannaseur, our sodas are the most exciting flavors in cannabis today, and our product roadmap will keep our fans delighted by what’s to come.” 

Award-winning, California-based Good Stuff Beverage Company has brought energy drink vibes to cannabis beverages with two-ounce, 100mg THC infused shots in sativa and indica strains. Twelve-ounce infused drinks come in sativa, indica and hybrid options, for energizing, calming, or euphoric effects. The line’s summery flavor blends include Honey Lemonade, Raspberry Lemonade, Key Limeade, and Strawberry Hibiscus. 

THC-infused beverage manufacturers may be on to something, as warm summer temperatures drive consumers to keep chill and hydrated. Wellness drinks infused with non-psychoactive ingredients derived from hemp, like CBD and terpenes, are already readily available from mainstream vendors including grocery chains and convenience stores and appeal to adults who want more options than plain water or soda, to avoid an alcohol hangover. 

Beverage alcohol research company IWSR released a report in January that indicated low- and no-alcohol beverage options are increasing in popularity with consumers. The report analyzed data on beverages infused with CBD and non-psychoactive plant compounds, but not THC-infused formulations. 

“The alcohol-adjacent category is emerging rapidly as more people become interested in moderation and avoiding the effects of alcohol,” IWSR researchers said. “Alcohol adjacencies offer mood-enhancing or functional benefits, many employing ingredients such as CBD, nootropics and adaptogens. These products focus on how their ingredients will make consumers feel, and are seen as an alternative way to enjoy traditional alcohol occasions – thereby appealing to health-conscious (and stressed-out) consumers.” 

Merchants should make note: Labor Day is not far off, on Monday, September 5, which will mark a long weekend and the unofficial end of summer. According to Surfside, it could also be the second strongest weekend for summer sales. 

By then, days will be getting shorter, and it’ll be time to start planning for winter holiday promotions and advertising campaigns.


StaffJuly 3, 2020
flag.jpg?fit=960%2C640&ssl=1

5min70

This year the 4th of July falls on a Saturday and that would normally mean big parties and celebrations. However, with the COVID-19 pandemic in full force, fireworks displays have been canceled and beaches closed in many states. The front page of the Houston Chronicle asked everyone to just stay home. What’s open? Dispensaries.

Cannabis software company Akerna (NASDAQ:KERN) said that it expects the essential services of cannabis will continue to benefit as other businesses struggle to open.

“For the first time in the past five years the 4th of July falls on a Saturday,” said James Ahrendt, Business Intelligence Architect, Akerna. “We anticipate sales will start to increase Thursday, July 2, with an 80% increase over daily averages culminating in an 87% increase over average daily sales over the holiday weekend.”

In 2019, when the 4th of July fell on a Thursday, there was a spike in sales the preceding Friday and Saturday, as well as the day leading up to Independence Day. However, not much change in sales the day of.

Sales expectations for the 4th of July. Akerna anticipates:

  • An 87% increase over average daily sales 7/2-7/4
  • Sales will start to increase July 2, with 80% (1.8X) increase on daily average sales for 2020
  • Friday, July 3will be the highest-grossing day of the year surpassing 4/20, which fell on a Monday. Modeling shows July 3 sales will be 100% (2X) increase on daily average sales for 2020.
  • Saturday, July 4, will see elevated sales, similar to Thursday, with 80% (1.8X) increase on daily average sales for 2020

Top Sellers for the 4th of July:

  • Flower 45% of sales
  • Cartridges / Pens 35%
  • Concentrates 11%
  • Edibles 9%

Spending:
The National Retail Federation expects 76% of consumers plan to celebrate Independence Day. Those who do have plans for the holiday expect to spend $76.00 on average in celebration of the 4th of July. The average cannabis order total will be close to $100 and an increase of $11 than the avg order total for all other days this year, which range in the area of $87.12 nationally.

On the Grill:
Historically people spend more than $371 million on chicken during the two weeks leading up to the July 4 weekend, which amounts to about $37 million a day. Cannabis sales are expected to reach over $260 million in three days, which is about $86 million a day.

Historic July 4th Meat Sales:

  • Chicken $371 million
  • Pork $271 million
  • Shrimp $85 million
  • Salmon $48 million


Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

We respect your privacy. See our privacy policy.


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 – 13 hours

Researchers Seek to Remove ‘Trip’ as Popularity of Psychedelic Treatments Grows

@GreenMarketRpt – 15 hours

The Weekly Stash Video September 30, 2022

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

We respect your privacy. See our privacy policy.