U.S. pot shops can expect sales to double this 4/20

U.S. cannabis retailers should steel themselves for one of their busiest days yet. According to new data, shops can expect to at least double their sales this upcoming April 20.

As the classic stoner holiday of semi-mysterious origin approaches, experts are advising dispensaries to be ready to take on the crowds this year.

According to cannabis data analytics provider Headset Inc., sales numbers in California, Colorado, Nevada and Washington State last year shot up 111 percent on April 20 when compared to the four previous and subsequent Fridays surrounding the festivities.

As the classic stoner holiday of semi-mysterious origin approaches, experts are advising dispensaries to be ready to take on the crowds this year.

Sales and deals in honour of the holiday may hold another key to its retail success, says Headset.

“In our analyses of category sales on 4/20 there are valuable insights for deal-hunting customers as well as for cannabis businesses,” reads the report. “Certain product types have their best day of the year while others are in fewer exit bags than usual,” while noting that it’s a day where “Millennials tend to open their usually-tight wallets wider than all other generations on 4/20.”

Another factor that could affect sales this year is the entrance of Generation Z into adulthood as of 2018.

“How did they respond to their first legal 4/20? Spoiler Alert: they liked it. A lot,” says Headset.

The elevated numbers may have something to do with the timing of the celebration. Last year, 4/20 fell on a Friday, which is not only known in retail as one of the most demanding sales days of the week but allowed for more consumers to celebrate with impunity before the weekend. This year, the holiday falls on a Saturday, which is also a long weekend (Easter).

Canadian retailers, who will be experiencing their first 4/20 since federal legalization came into force last October, are also expected to see a boost in sales. But the report notes that regions with few dispensaries, such as Toronto, will be limited in their ability to accommodate the demand.