The business software company MJ Freeway has reported the retail portion of cannabis sales on 4/20 exceeded $45 million, a 20% increase from last year’s marijuana holiday.
MJ Freeway’s 4/20 by the Numbers:
- MJ Freeway predicted a 10% increase in order count (number of transactions) for the week of 4/20 (4/14 – 4/20). This year’s 4/20 week saw a 13% increase in order count compared to the weekly average.
- On the day of 4/20, MJ Freeway predicted a $6 per transaction average increase from an average order sale compared to the rest of the year. This year, the actual results were much higher at $77.21 for 4/20 – a $10 increase per transaction compared to the 2017 average.
- On average, 13% discounts have been applied to all sales for the year. On 4/20, MJ Freeway saw an average discount of 24.11% applied to all sales.
How long until the next big sales day?
The cannabis software company is telling retailers to expect another day of huge sales on July 4th, which is traditionally the third biggest day of spending in the retail cannabis market, behind New Year’s Eve.
Last year’s Independence Day lead-up (July 1 – July 4) rivaled that of 4/20 (April 17 – April…