Cannabis Operators: 3 Sure-fire Ways To Crush Holiday Sales

You’ve heard the numbers and the stats, Fourth of July is one of the busiest holidays for cannabis retail operators. The holiday – widely known for cannabis consumption – also drives cannabis tourism. Retailers often see a spike in store visits, purchases, and, most importantly, sales. This year, our data shows individual retail locations experienced, on average, a 22 percent increase July 1-4, 2016, over last July 1-4, 2015 sales in California, Colorado, Vermont, and Washington and a 25 percent increase in overall customer traffic. As the cannabis retail market grows, heightened holiday traffic will continue to be a trend. Proper preparation is key to success! Not sure how to prepare for the next spike in holiday traffic? Serious about taking advantage of increased traffic to drive sales? We recommend the following:

  • Open later and all days of the week– Stores that do so benefit more than those that do not. Shoppers ramped up their holiday purchases up to five days before the holiday. Staff up and be prepared for volume.
  • Identify gaps in the market – Didn’t see a spike in traffic and sales over the holiday weekend? Assess your overall patient and/or customer traffic and average basket ring data to identify where gaps in the market exist and how to close them.
  • Prepare for all holidays, not just one – Cannabis sales spike around April 20th, July 4th, and New Year’s Eve. Stores that can accommodate special preparations and promotions for those days will benefit the most.

The cannabis market in the US is here to stay, and the increase in sales during cannabis holidays is proof. With state-specific retail sales data you can spot trends and opportunities that will help you rise above the rest. Stay tuned on our blog for more support during busy selling cycles.

Marketing | Retail