Looking at 420 by the Numbers
It’s beginning to look like the Christmas of cannabis retail in 2023 was both larger and smaller, better and worse than we’ve seen before. But depending on the data set, you’ll likely find a similar story: more shoppers than ever spending fewer dollars than in previous years, with plenty of exceptions to skew the results. On the wholesale side, retailers were prepared for a big day of sales. Looking at the four weeks leading up to 420, industry wholesale platform LeafLink reported sales were up 13.8 percent compared to the previous four weeks. Sales during the one-month lead-up to 420 were 18.3 percent higher in 2023 than they were in 2022. According to industry software company Flowhub , the retail side saw the busiest 420 in history with dispensaries processing more than twice as many transactions as a typical Thursday. While cash was king for payments, accounting for 83 percent of all transactions, debit transactions were 169 percent higher than the average Thursday so far this y...