Cannabis Retailers Prepare for Massive Sales on 4/20, the Unofficial Cannabis Holiday

LOS ANGELES– Tech firms tracking sales in the cannabis industry are predicting a “massive” sales day for retailers on April 20th, also known as 4/20, which they have dubbed the industry’s Super Bowl or Black Friday. Socrates Rosenfeld, CEO of I Heart Jane, a California-based tech platform helping marijuana retailers, expects a 100% increase in sales across all retailers, with edibles and vape cartridges being the most popular products. Rosenfeld said that preparedness, digital reach, and promotional strategies will be key to correlating with higher sales. Despite recent headwinds in the cannabis industry, sales have not slowed down, according to Rosenfeld, and mature markets have come to expect a surge in sales on 4/20. Last year set a new benchmark for most state markets, and this year could be even bigger, as 4/20 falls on a Thursday. However, the impact of the holiday differs significantly between mature and emerging markets, with BDSA noting that even mature market retailers are still likely to see a sales bump compared to non-holiday sales days. Additionally, social consumption is on the rise after taking a hit during the pandemic, and the 4/20 holiday could bolster that trend, according to BDSA.