April 20th 2023.
This 4/20, cannabis companies are pulling out all the stops to ensure bumper sales - the highest single-day sales ever for the sector. From cannabis-infused flowers to edible weed gummies, weed culture is ready to celebrate the day with exclusive deals and discounts. Leaflink expects sales to jump 500%-1,000% compared to 2022 and Curaleaf CEO Matt Darin is optimistic that the legalization of recreational marijuana in 21 U.S. states along with Washington, D.C. and Guam will contribute to this growth. Nick Rinella, CEO of Hippos, has upped production in anticipation of record sales. Last year, Curaleaf saw a 45% increase in net sales and 70% increase in transactions across its retail stores on 4/20. This year, with 4/20 falling on a Thursday, sales are expected to get a further boost. Cannabis retailers see more sales on Thursdays than on Wednesdays and Tuesdays according to seasonality data from cannabis data firm BDSA. High Tide Chief Revenue Officer Andy Palalas believes that cannabis brands must leverage key holidays like 4/20 to reinforce their message. So this 4/20, get ready for a cannabis industry celebration like never before!
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