MJ Freeway Reports Cannabis Retail Sales for April 20 "4/20" Holiday Exceeded $45M
DENVER, April 26, 2017 /PRNewswire/ -- MJ Freeway, the cannabis industry's leading provider of seed-to-sale traceability solutions, reports that cannabis retail sales for the largest marijuana holiday exceeded $45 million, a 20% increase compared to the 2016 holiday.
Prior to the holiday, MJ Freeway predicted a 20% increase in retail cannabis sales and a 10% increase in customer traffic. MJ Freeway's predictions and reports are based on sales data figures compiled through analysis of their majority cannabis retail market share.
April 20th is widely recognized as a holiday by cannabis enthusiasts, increasing cannabis tourism and events. "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.
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.
*Note: One physical location may operate with two individual licenses – medical and recreational
The next largest holiday for cannabis sales is July 4th, which ranks as the third highest holiday in total cannabis retail dollar sales following 4/20 and New Year's Eve.
For more information on state-specific retail sales data or for help spotting trends and opportunities using cannabis sales data, please contact MJ Freeway Consulting Services at email@example.com or 888-932-6537 ext 2.
About MJ Freeway: MJ Freeway® is the industry-leading software and consulting solution for cannabis businesses, processing $5B in cannabis sales transactions and serving clients in 23 states the District of Columbia, Canada, Europe, and Australia. Founded in 2010 by technologists creating tech specifically for cannabis businesses, MJ Freeway's tracking software includes patent-pending inventory control and grow management applications to streamline workflow and increase efficiency. MJ Freeway's Leaf Data Systems software solution enables governments to track cannabis plants from seed-to-sale and ensure patient, public, and product safety. MJ Freeway also offers a complete suite of consulting services for cannabis businesses. For more information, call 888-932-6537 or visit mjfreeway.com.
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SOURCE MJ Freeway
Released April 26, 2017