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Cannabis Retail Shops Sold Over $45 Million of Weed This 4/20
news  |  Apr 27, 2017

Cannabis Retail Shops Sold Over $45 Million of Weed This 4/20

Last week, America definitely got blazed.

Last week, America definitely got blazed.

Stoners across the world got together last week to celebrate the slow but steady decline of marijuana prohibition. The week of 4/20 is the biggest sales week for cannabis retailers, and as more states legalize, the revenue from cannabis sales gets larger every year. According to MJ Freeway, a company that provides seed-to-sale traceability solutions for the cannabis industry, retail cannabis sales exceeded $45 million this 4/20.

Based on sales data from the past seven years, MJ Freeway correctly predicted that this year's 4/20 sales would increase by 20% from last year. The company also predicted a 10% increase in the number of transactions at cannabis retail stores during 4/20 week, but retail stores actually saw a 13% increase compared to the weekly average.

The average marijuana retail purchase on the day of 4/20 was $77.21, an average of $10 more than buyers have usually been spending in 2017. Retail establishments encouraged these sales by extending discounts on the day of 4/20. The average discount for this year's holiday was 24.11%, compared to an average of 13% for all sales this year.

"With the increase in widespread acceptance of cannabis, we anticipated a large jump in US sales for the holiday. 4/20 is an excellent opportunity for adults to purchase and consume products in a responsible, regulated market, while learning about the culture and history of the industry," said Jessica Billingsley, COO and co-founder of MJ Freeway.

The second-biggest marijuana retail holiday is New Year's Eve, followed by July 4th in third place.

chrismoore

Chris Moore is a New York-based writer who has written for Mass Appeal while also mixing records and producing electronic music.

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