Marijuana firms prepare for potentially huge 4/20
This year marks the first time since state legalization that April 20 – the unofficial marijuana holiday dubbed 4/20 – falls on a Saturday, so retailers in markets with legal adult-use cannabis are gearing up for what could prove a record-setting weekend.
MJBizDaily takeaway: 4/20 sales set a high bar last year at $26.6 million in California, Colorado, Nevada and Washington state, according to Headset, a Seattle-based data analytics firm that specializes in cannabis.
Colorado’s sales growth on 4/20 outpaced others, with a whopping 128% spike.
By contrast, California – where consumers have griped about high prices for retail cannabis – had lower sales growth at 103%, which some industry analysts blame in large part on the thriving illicit market. But statewide delivery, which regulators now allow, could be a game changer that causes sales growth in the Golden State to surpass other adult-use markets.