This story has been updated with final sales numbers from Akerna Corp., following July 4 weekend.
American cannabis retailers wrapped one of the busiest weeks of the year, with several days setting records for the highest-grossing sales days of 2019 so far. While it’s no 4/20, in terms of cannabis cultural cache, the week leading up to July 4 proved to be a major sales opportunity. The festivities also lead neatly into July 10—“7/10,” National Oil Day or National Dab Day—which dispensary owners will want to keep on their radar.
Akerna Corp.’s team put it simply: “Americans will spend more on cannabis this Fourth of July than chicken for their BBQs.”
By the end of the week, Akerna estimated some $400 million in cannabis sales in the U.S.—a 60-percent increase over an average week.
Akerna Corp. is the company that’s been formed out of a merger between MTech Acquisition Corp. and MJ Freeway, a seed-to-sale tracking platform with a footprint in 20 U.S. states.
Here’s how Akerna breaks down this important week of cannabis sales:
- Sunday, June 30—highest grossing Sunday of the year (50% higher than other Sundays)
- Monday, July 1—highest grossing Monday of the year with 1.45-times daily average sales (45% increase)
- Tuesday, July 2—highest grossing Tuesday of the year with 1.53-times daily average sales (53% increase)
- Wednesday, July 3—highest grossing Wednesday of the year with 2.12-times daily average sales (112% increase). It was also the highest sales day of the July 4th week.
- Thursday, July 4— with many retailers closed on the holiday, slightly over the national daily average in sales
“Utilizing the largest data set in the cannabis industry, we are able to provide unique insight into market peaks and trends to anticipate and prepare for their busiest days,” Akerna CEO Jessica Billingsley said. “Cannabis sales rival the sales of traditional holiday staples. It’s time to stop looking at this industry as niche or marginal. The growth of consumer adoption is explosive as legalization of cannabis expands and Americans across all demographic segments are incorporating cannabis into their everyday lives.”