420 in 2021: Unprecedented Cannabis Sales for Weed Day
This April 20 (the famous weed day), cannabis sales in the US reached a new, all-time high, Headset data confirms.
The market research company reveals that 2021’s 420 went remarkably well in terms of sales, even though it was, for the second time, celebrated during a global pandemic.
Namely, cannabis companies increased their sales by 85% compared to the average of the four precedent Tuesdays.
However impressive, this jump in sales is still lower than last year’s 100.4%, and 2019’s 118.6%.
That said, data analytics from Akerna for 4/20 estimated a gross sales figure of a whopping $95 million for the legal retail market only! With this, the total for the five-day period starting at 16/04 was evaluated at $370 million.
Calculations also show that the average cannabis user spent $105 on 3.69 products for the occasion. This is approximately $10 more than the average cannabis-related expenditure, and almost one product above the habitual 2.83 products per user.
One of the biggest winners in this year’s cannabis holiday was, ironically, Planet 13—a Nevada-based cannabis company that reported single-day sales of $543,000 and monthly April sales worth $10.7 million.
Market analysts attribute last year’s skyrocketing cannabis craze to the following:
- the spreading of the marijuana legalization wave across the US, including New York State—the latest addition.
- the devastating pandemic-related consequences on the mental health of Americans
These are the main reasons why the cannabis industry as a whole experienced amazing growth regardless of the pandemic outbreak.
But cannabis industry growth is not done yet! Expert predictions show that Americans are not likely to forget their newfound ally in coping with the global sanitary crisis any time soon.