This Year's 4/20 Was The Most Profitable In The History of Cannabis

The smoke has cleared, and the numbers are in. This year’s 4/20 holiday was the most profitable in the history of legal cannabis, according to data provided by cannabis technology and data firm MJ Freeway.

Between April 18 and April 20, cannabis sales topped out at $182 million, up 38% from last year’s $132 million. On 4/20 alone, sales reached as high as $80 million, easily making it the largest grossing sales day of the year so far.

By far the most popular cannabis product purchased over the weekend was flower, which accounted for 45.3% of sales. However, flower sales on the whole only increased by 2%. The top three flower strains sold over the holiday weekend were Blue Dream, Grapefruit Durban, and Sour Diesel. The second most popular cannabis product sold was vaporizer cartridges and pens with 39% of sales. Concentrates took the third spot with 12% and edibles rounded out the bottom, accounting for only 10% of sales.

Nationwide, the average order was around $108.06, representing an increase of $10 per order when compared to last year’s sales figures. The average order size grew by 30% when compared to the previous year, rising to 3.56 products per order. The number of discounts compared to last year also grew, roughly doubling in number.

This year’s 4/20 holiday saw little change in the way of gender dynamics but there was a shift in age demographics. Men made up the majority of 4/20 purchases, with 62% of sales coming from men and 38% coming from women.

Adults aged between 30-40 years old made up the largest purchaser group, following by those under the age of 30. In 2018, adults aged between 50-60 years old made up the largest group, followed by those between the ages of 40-50 years old.

One of the reasons why sales were particularly high this year was that it coincided with two major religious holidays, Passover and Easter, as well as the weekend. With more free time, individuals were better able to plan their 4/20 purchases and, as the numbers show, acted accordingly.

Flowhub

We just got in new data from Flowhub with some info on what happened. So, how high did cannabis sales soar on 4/20/2019?

    • Compared to 4/20/2018, this year’s sales increased by 7% with 9% growth in both check-ins and transactions.
    • Compared to an average Saturday, 4/20/2019 saw over 50% increase in sales, transactions, and check-ins with an average (post-tax) sale amount of $65.30—7% higher than average.
    • It wasn’t just a high day, it was a high weekend! Compared to 420 weekends in 2018, sales and transactions grew 22% with a 20% increase in check-ins from 4/19-4/21/2019.
    • Flower sales dominated 420, accounting for 54.1% of total sales. Over the weekend, nearly 150k pre-rolls were sold!
    • The 2nd top selling product category was concentrates at 30.8%, followed by Edibles at 11.3%.
    • Keeping calm and staying compliant. While 98% of ID cards scanned were successfully checked in, Flowhub Check-In App flagged 690 underage customers, 427 expired, and 519 suspicious IDs throughout the 420 weekend.

Compared to 2018, 4/20/2019 had an increase in overall sales, check-ins, and transactions, but a small decrease in the average sale amount.

 

William Sumner

William Sumner

William Sumner is a freelance writer specializing in the legal cannabis industry. You can follow William on Twitter @W_Sumner or on Medium.


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