420 Hoilday Cannabis Retail Traffic Up 10% in 2021
April 20e, the “Cannabis Holiday” has historically marked the marijuana industry’s biggest selling day of the year. However, looking at the past 3 years, 4/20 has come across distinctly different climates. 2019 was a normal (non-COVID) year in which dispensaries Canada and legal U.S. states fought to be open by 4/20 and to source as much inventory as possible to meet surging demand. They were awarded with the biggest cannabis sales day ever.
Retail cannabis sales rebound despite ongoing pandemic
Last year, all retail businesses were closed by COVID in March, followed by various reopenings of dispensaries by state or province in April. There were also restrictions on how cannabis stores could sell: via online ordering and curbside pickup, delivery only, and / or the limited number of visitors to the dispensary. 4/20 2020 turned out to be a better-than-average day, but did not set any sales records.
04/20/21 was nowhere near a return to normal, as some municipalities were blocked for non-essential travel, while others were open for business, but with 6-foot restrictions in place. Nonetheless, the industry saw its sales increase 8.4% from 4/20/20, despite several US point-of-sale systems falling into higher volume. This forced nearly 2,000 clinics to turn away clients for hours.
CEO of Cova Gary Cohen, summed up on 4/20/21, stating: “The preparations for last year’s 4/20 were tentative, as our industry was just recognized as essential. The supply of cannabis products was plentiful, but the demand was a big question. huge demand from consumers and patients, and due to COVID back-up checks in April, they had money to spend at dispensaries. This year the relief was not timed around 4 / 20, but employment is higher and access to stores easier. Overall 2021 has been a great 4/20. “
Based on Cova data, the daily sales increase on 4/20 compared to the average daily March sales was: 2019 + 240%, 2020 + 78% and 2021 + 89%.
The average bill per transaction in the United States was $ 76.26, an increase of 9% compared to 2020. For Canada the average bill was $ 52.48 CAD, a decrease of 2% from a year earlier. Dispensaries across North America saw 9.5% more traffic to their store this year, which is due to the greater freedom in April to visit retailers in the United States. In Canada, a surge in COVID cases, a delay in vaccines and more lockdowns by provinces have created challenges for retailers. Despite this, Canadian cannabis stores processed 5% more transactions on 4/20.
1,000 new stores celebrate their first 420
Year over year, around 1,000 new dispensaries were opened (+ 20%) in North America. Several geographies have dramatically expanded the number of dispensaries and access to cannabis over the past 12 months, namely Ontario, California, Oklahoma, and Missouri (a new state of medical cannabis in 2021). The better weather this year and the impact of those markets have helped drive overall sales for cannabis vacations significantly.
Cova designs retail software solutions specifically for the cannabis industry and has quickly become the # 1 dispensary point-of-sale and inventory management solution in North America. Cova’s award-winning platform helps cannabis retailers simplify compliance, streamline dispensary operations and increase profits through sophisticated inventory management, mobile dashboards, and seamless integrations with leading technology solutions. most popular in the retail cannabis industry. Cova currently supplies more than 1,200 dispensaries and has and is expected to treat $ 3 billion of cannabis sales in 2021.
SOURCE Cova software