What kind of business can your dispensary expect from this year’s 420 celebration? You know it’s going to be busy but just how busy? There are so many factors at play and the future’s far from written but most dispensaries are battening down the hatches for what’s bound to be America’s biggest 420 ever. California’s entry into the recreational sales market is a huge factor in predictions for a record breaking April. But with an already healthy demand for adult use cannabis, can we really expect the numbers to jump that much for 420, if at all?
Since Colorado was the pioneering state of recreational marijuana, eyes often turn to the Centennial State for signs of what to expect as the industry continues to grow. While Colorado’s sales numbers have always stayed strong, last year’s 420 sales fell short of the expectations of many. According to the Colorado Department of Revenue, April 2017 saw the state pull in well over $1 million more in sales tax than they had in April 2016. However, this was $2 million less than they’d made in March 2017 so, despite the 420 holiday, Colorado actually experienced a dip in profits for April 2017. While some analysts believed that the 420 holiday was losing its luster, there may be other influences resulting in the lower-than-predicted sales.
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Last year, the search-and-discovery app Foursquare analyzed its foot traffic data to see if they noticed any 420-specific trends. In 2016, Foursquare’s app picked up a 76% increase in dispensary traffic but businesses outside of the cannabis industry may have been riding this crest as well. On that same date, Foursquare noted a 20% increase in traffic to the most popular fast food restaurants as well as an 11% traffic increase for pizza joints. It doesn’t end there. Night clubs enjoyed an 8% increase while liquor stores saw a 36% surge in traffic. Pubs were up an astounding 92% from the previous week. What makes these surging traffic percentages that much more surprising is that, in 2016, 420 fell on a Wednesday so there was no benefit of weekend traffic. It’s most likely that the 420 holiday directly contributed to the revelry that saw this statistical bump. This year, not only has California entered the playing field but the holiday falls on a Friday with the potential to lead into a weekend-long surge of cannabis sales. This could easily find Colorado finding that boost it missed last year and will pretty much secure a record-breaking 420 as far as the country as a whole is concerned. We recently interviewed a series of dispensaries, some medical and others recreational, that unanimously agreed that they were preparing their staff for a significantly large surge of traffic. To keep up to date on 420 tips and tricks straight from the dispensaries themselves, check out our Facebook where we’ll be posting helpful tips leading up to the big day!
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