Unpacking 4/20’s Massive Impact On Cannabis Sales Through LeafLink’s Data
As the cannabis industry approaches the annual 4/20 celebrations, a notable trend emerges from LeafLink’s comprehensive data. According to the company, a leading cannabis wholesaler, each of the last three years has seen dispensaries stock up in anticipation, resulting in March purchases outdoing previous records and establishing a higher baseline for the year.
A Closer Look At Annual 4/20 Sales
The figures speak volumes and were further illuminated through Benzinga’s consultation with Ben Burstein, LeafLink’s market analyst. In 2021, March saw wholesale sales soar by 42% to $345 million from $243 million, setting a new low threshold for the year. This pattern persisted into 2022, with a 33% jump to $411 million. And in 2023, despite a slight dip in December, sales rebounded, underlining the industry’s resilience and growth trajectory.
Consumer Behavior And Market Evolution
LeafLink’s analysis reveals the week of 4/20 as the peak volume period, with customer demand fueling a surge in unit sales and retailers doubling …