Health

/

ArcaMax

Why Cannabis Operators Expect Record 420 Despite Coronavirus Concerns

By Benzinga Staff Writer, The Fresh Toast on

Published in Cannabis Daily

Strong sales during the pandemic’s peak provide optimism for a holiday season featuring many vaccinated consumers in what could be the final months of the pandemic.

By Andrew Ward

The high holy day of pot is almost here and ready to shake off the rust from last year.

April 20, the most celebrated day in cannabis, is usually marked with copious amounts of pot. Last year, the online marketplace I Heart Jane saw a 35% sales increase the week of 420 versus a typical sales week.

Data from Headset shows cannabis sales spike around 420 in California, Colorado, Nevada, Oregon and Washington. Beverages (54%), topicals (41%) and concentrates (41%) were the highest growers during the period.

“Attention to the 420 holiday is another example of how the cannabis industry has arrived, with 420 driving sales just like any other type of retail environment holiday, from Valentine’s Day to Mother’s Day,” said Choice Consolidation Corp. (NEO: CDXX-UN.NE) CEO Joe Caltabiano.

 

Strong sales during the pandemic’s peak provide optimism for a holiday season featuring many vaccinated consumers in what could be the final months of the pandemic.

Continued Growth Expected As COVID-19 Declines, Cannabis Interest Rises: “As we continue to see strength in the market and more new customers becoming familiar with our products, we predict another record-setting 420,” said Jeff Yapp, CEO of Golden Leaf Hldgs Ltd (OTC:GLDFF). The company owns and operates Oregon’s Chalice Farms dispensary brand.

Manifestseven Holdings (OTC:MNFSF) Director and CEO Sturges Karban expects continued growth this 420. Karban, whose company owns Weden dispensaries in California, said the last year validated the resilience of cannabis.

“If anything, the past year has proven to consumers, operators, regulators and legislators alike that demand for this product can compete even with pressures on disposable income,” said Karban.

...continued

swipe to next page