Post-420 Retail Analysis: Dispensary Successes and Lessons
April 20, or 420, is a yearly event celebrated by cannabis enthusiasts. For members of the cannabis industry, 420 is a day where businesses invest a lot of time and energy. According to analytics firm Headset , 420 has represented the biggest day for retail sales every year since legalization. Like many other industries, the past two years have been greatly impacted by COVID-19. So how did retailers perform on the industry’s big day in 2022? We thought it would be interesting to review the 420 retail predictions from cannabis data firms and compare them to what dispensaries actually experienced last month. Cannabis market research firm BDSA predicted a 50 percent increase in daily sales on 420. This year, 420 fell on a Wednesday which BDSA predicted would lead to greater retail sales than in the two previous years. The firm also expected a boost in sales across all product categories with cannabis-infused beverages potentially being the breakout star. Headset classifies itsel...