As more retailers and brands zero in on a strong return on investment for April 20, Weed Week can quickly evolve into a make-or-break scenario for operators.

Perennial concerns over systemwide outages, inventory and workforce management as well as easing in-store and e-commerce traffic typically peak around this time of the year.

ADVERTISEMENT

And for good reason.

The days leading up to and including 4/20 are the industry’s busiest sales window.

According to retail management platform Sweed, gross sales jumped 58% from April 15, 2024, to April 21, 2024, while product units sold increased 60% from the previous week.

And conversely, research reviewed by MJBizDaily indicates that, in the days and weeks following 4/20, sales fall dramatically across the board and in markets across

Read full article on Marijuana Business Daily

As the industry, consumers and other enthusiasts prep for another April 20 cannabis celebration, the date is taking on new importance nationwide for advocacy, unity and business.

In marijuana retail, 4/20 is by far the biggest sales day of the year, rivaling the mainstream shopping frenzies of Black Friday or Cyber Monday.

ADVERTISEMENT

In response, retail operators and brands are initiating a wide range of promotions, community initiatives and marketing campaigns to drive the best return on investment (ROI), a vital metric given the widespread financial and operational challenges many are facing.

Several retailers across the country, such as Hi! People Cannabis Market, are celebrating their first high holiday.

The Derby, Connecticut, store is holding a block party Saturday night to encourage early purchases

Read full article on Marijuana Business Daily

Extraction consumers seeking high-quality cannabis products are becoming increasingly concerned about how their extracts are made.

Some methods use solvents that critics say can leave behind residual chemicals, while proponents counter that those residuals appear in miniscule and harmless amounts.

Other methods aim for maximum purity and forgo solvents entirely.

ADVERTISEMENT

The global cannabis extracts market was valued at $4.3 billion in 2023, according to Grand View Research, a San Francisco-based market research and consulting firm.

It’s projected to grow at a 20% compound annual growth rate to reach $15.5 billion by 2030.

To ensure sustainability and consumer trust in the extraction market, marijuana businesses must pay attention to the process.

The healthiest cannabis extraction methods preserve the plant’s beneficial compounds while minimizing potential

Read full article on Marijuana Business Daily