2018 Statistics & 2019 Predictions
April 20th is the day for cannabis advocates everywhere. With large celebrations, safety meetings, smoke-outs, and thousands of consumers in search of 420 specials, it's a prime opportunity for cannabis dispensaries to stand out from the competition and provide a positive buying experience. Here is some striking data to help you prepare for the big day, as well as 420 2019 predictions.
420 Growth from 2017 to 2018
- The average transaction amount was 2% higher on 420 2018 compared to 420 2017.
- There were 29% more transactions on 420 2018 compared to 420 2017.
- 29% more people visited a dispensary on 420 2018 compared to 420 2017.
- Total sales were 30% higher on 420 2018 compared to 420 2017.
- Total grams of flower sold was 35% higher on 420 2018 compared to 420 2017.
420 2019 Prediction: This will be the biggest 420 sales day in history. For most legal markets, 420 will land on a Saturday for the first time. However, we may see a decline in the average sale amount due to increased competition, new or occasional holiday participants opting for cheaper products or lower quantity purchases, and trending lower price points in states like CO and OR.
420 2018 Compared to an Average Friday
- Conversion rates were 88% on an average Friday. On 420 2018 the conversion rate decreased to 83%.
- The average transaction amount was 10% higher on 420 2018 compared to an average Friday.
- There were 46% more transactions on 420 2018 compared to an average Friday.
- 49% more people visited a dispensary on 420 2018 compared to an average Friday.
- Total sales were 51% higher on 420 2018 compared to an average Friday.
- Total grams of flower sold was 72% higher on 420 2018 compared to an average Friday.
420 2019 Prediction: Last year saw a decline in conversion rate (the percentage of check ins that end up making a purchase) in comparison to an average Friday. In 2019, we may continue to see fewer customers making it to the checkout counter due to large groups shopping together unless retailers make an conscious effort to improve conversions. Strategic product placement, targeted specials, and training staff to interact with every customer—including spectators and those who check in with no intention of making a purchase—are prime strategies for increasing conversion rates.
Here is a breakdown of top selling product categories on 420 2018:
- Flower: 54%
- Concentrate: 29.4%
- Edible: 12.3%
- Accessories: 2.5%
- *Misc: 1.7%
- **Non-edible: .3%
* Misc products include clones, seeds, infused-products, and gift cards. ** Non-edible products include topicals, patches, and suppositories.
420 2019 Prediction: Top selling items will be easily shareable, instant-use products more friendly to new consumers like flower, edibles, pre-rolls, and cartridges. Sales on accessories and lower-priced items are also expected to increase on 420.
Top Selling Product Categories on 420 2018
Busiest Times on 420 2018 Compared to Average
- Similar to an average dispensary sales day, 2 PM - 6 PM saw the highest volume of transactions on 420 2018.
- However, sales on 420 2018 were more spread out throughout the entire day with only 44% of transactions between 2 PM - 6 PM compared to 50% of transactions during this time period on an average day.
420 2019 Prediction: 420 has become the “Black Friday” of the cannabis world. On 420, retailers can expect to attract both brand new consumers looking to participate for the first time as well as occasional users who may only purchase cannabis products a few times per year. Retailers must be prepared for long lines, handling customer wait times, and providing more assistance to less experienced consumers who need help selecting the right products.