There are the usual cultural holidays that we all know about, such as Christmas, as well as the holidays specific to cannabis users, such as 4/20.
In the grand scheme of things, the cannabis industry is still relatively young and we are still learning a lot about the ups and downs of the industry.
An interesting factor to consider and observe as the industry continues to grow is the effect that the holiday season has on the cannabis industry as a whole.
Let’s take a moment to compare various cannabis industry data from Headset to see what we can infer from it.
First of all, we need to understand that when it comes to the cannabis industry, there are two sets of holidays to consider. There are the usual cultural holidays that we are all familiar with, which is the period traditionally known as Christmas. There are also the holidays specific to cannabis users such as 4/20 or 7/10 (calendar dates).
4/20 and 7/10
These two specific dates on the calendar are considered feast days in the cannabis community. The 4/20 has long been associated with or considered a high (since the 1940s according to some sources). 7/10 refers to the oils in cannabis concentrate because 7/10 upside down means “oil”. You can find many of these oil concentrate products for consumption in pens, platforms and vaporizers.
Reports indicate that the week before and the day of the 4/20 show an increase in sales of cannabis flowers. Consumption of the real flower has a more traditional flair as opposed to the more modern concentrated options. A factor in this increase in sales is the fact that many dispensaries and shops are offering up to 4/20 which contributes to this increase in flower sales.
The week before 4/20 saw a 25 per cent increase in sales of cannabis products. Colorado, Nevada, Washington, D.C. and California all had over $100 million in sales of cannabis products during the week of the 4/20.
The week of 7/10 does not seem to reflect any serious changes in terms of sales data. It is worth considering that 7/10 is a less well-known day of celebration of cannabis, as these concentrates are relatively new to the market.
Usual holiday season
Christmas week is another time of the year that has shown statistical increases with the sales of cannabis products. During Christmas week, the cannabis industry saw its sales increase by about 15 per cent.
While this increase is not as large as the increase in the week of the 4/20, it still represents a considerable growth spurt for business owners in the cannabis industry.
What factors could lead to an increase in cannabis sales during Christmas week?
It seems that it is more socially acceptable to give cannabis gifts to each other over time. Many people have some extra money to spend because of work bonuses and family gifts. Many stores and clinics try to offer discounts and sales for the season. More choice in methods of consumption means that more people will be willing to try cannabis than before, because not everyone likes the idea of smoking.
A separate report from Team Headset breaks down key demographics and their percentages of cannabis products purchased.
52 per cent of all cannabis sales since legalization have come from the millennium population. The remaining 48 per cent of cannabis sales appear to be evenly split between the silent generation, Generation Z, baby boomers and Generation X.
Another interesting point in this report is that from 2018 to 2019, Generation X doubled its cannabis purchase rate from 3 per cent to 6 per cent. This trend currently shows no sign of changing or slowing down.
Team Headset data clearly shows that holidays do indeed have a positive impact on sales in the cannabis industry. The most notable being the week of the 4/20 with a 25% increase.
It is also interesting to learn that the Millennials alone account for more than 50% of the total sales of cannabis products at that time.
Perhaps sales figures for the week of 7/10 will also begin to increase over the years as concentrates become more widespread in the cannabis market and social awareness develops.