The week leading up to April 20th, or 420, is one of the biggest moments of the year for the cannabis industry. Known as the “unofficial holiday” of cannabis, 420 is celebrated globally, and sales in the U.S. reach staggering highs as cannabis users stock up on their favorite products. April 2024 was no exception, with significant increases in cannabis sales across the nation. Let’s break down the sales data and what it means for the cannabis market.
Sales Data from 420 Week 2024
In the week leading up to April 20, 2024, cannabis sales saw a huge spike, much like previous years. According to data from Headset, a leading cannabis analytics company, cannabis sales across legal states in the U.S. increased by 95% compared to an average week. The day of April 20th alone experienced a 420% increase in sales in some areas, solidifying its place as the highest-grossing day in the cannabis industry each year.
In states like California and Colorado, where cannabis is fully legalized for both medical and recreational use, the numbers were even higher. California saw a 110% increase in sales compared to the prior week, while Colorado experienced a 98% surge.
- Edibles were among the fastest-selling products, with a 50% increase in sales, particularly among new users who prefer not to smoke.
- Pre-rolls also saw a significant boost, with a 70% increase compared to typical weeks.
The Impact of Discounts and Promotions
The substantial sales increase can be largely attributed to discounts and promotions that dispensaries roll out specifically for the 420 holiday. According to BDSA, another cannabis industry analytics firm, cannabis brands and dispensaries offered 30-50% discounts on a wide range of products. These deals helped draw in consumers, many of whom stock up on cannabis for months ahead. Dispensaries reported seeing increased foot traffic and online orders throughout the entire week.
In 2023, cannabis sales in the U.S. during the week of 420 hit nearly $400 million, and in 2024, that number is expected to surpass $500 million, reflecting the growing market and more states adopting legal cannabis programs.
Source: BDSA Insights
Global Recognition of 420
While the U.S. dominates in cannabis sales during 420, the holiday has become globally recognized. Countries like Canada, where recreational cannabis is fully legal, also see a sales surge around 420. Similarly, cities like Amsterdam in the Netherlands see increased tourism and cannabis-related activity.
Summary
420 has evolved from a counterculture celebration to a mainstream event that significantly impacts the cannabis market. With nearly half a billion dollars in sales during the week leading up to April 20, 2024, it’s clear that the holiday is more than just symbolic—it’s a major economic driver for the cannabis industry.
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