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“Oil Day”, or 7/10, has failed as a sales holiday this year
Key points:
- “Oil Day,” or 7/10, flopped as a sales holiday this year, increasing sales by just 4% over a normal Friday.
- Cannabis concentrates remain a small part of retail sales, but are highly valued by buyers.
- Price compression has expanded the customer base. Live resin, which once sold for $40 per gram, is now only $10 before tax.
Once a niche product, cannabis concentrates have become one of the most reliable drivers of retail growth.
Extracts are the basis of vapes, edibles, infused pre-rolls and premium hash sales year-round, even if 7/10 is the industry rest of the concentrate is assigned and dabber’s response on 4/20 – doesn’t move the needle.
“These extracts feed the entire food industry — they come from hash,” said David Downs, organizer of Hash Week, a week-long celebration in California beginning on 7/10, sometimes called “Oil Day.”
“We’re talking about concentrates – edibles, vapes and the hash market in bulk grams. They’re all extracts.”
As cannabis oil becomes a year-round growth engine, consumers are no longer waiting for the 7/10 holiday to purchase it.
Still in 2022 concentrate sales jumped 67.4% on 7/10according to Headset, rosin sales were up 213% over the previous four Saturdays—a veritable holiday surge by any standards.
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“That’s what we’re up against here”
Representatives of the state of Massachusetts officially confirmed that Mr initiative to repeal the law legalizing marijuana in this state will appear on the ballot in November.
The Commonwealth Secretary’s Elections Division told organizers Thursday that they had submitted enough valid signatures during the second round of petitions to put the measure before voters, but just barely.
According to state law, election campaigns in Massachusetts must submit signatures in two waves. After the first filing, the Legislature gets a chance to enact proposed ballot measures after organizers file the first round of petitions. Lawmakers in May refused to take measures to combat marijuanahowever, that’s why organizers needed to submit an additional 12,429 verified signatures by July 1 in order to hold the November vote.
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Lume’s large plant produces about 500 pounds of high-quality cannabis per week
David Morrow steps out of a minivan parked outside Lume’s sprawling 225,000-square-foot facility in Everett, Michigan, walks through the front door and puts on a Tyvek coverall and shoe covers. Then he enters an air shower, a narrow corridor that releases purified air to remove pests, mold and viruses that may be crawling on his hair, skin and clothes.
“It kills all the hitchhikers,” Morrow says, explaining that his seven-year-old cannabis company has never lost yield thanks to almost obsessive biosecurity measures. “One little thing can kill a crop.” Once in the center of the warehouse, he washes his hands, puts on a face mask and hair net, and opens the door to Grow Room 10, revealing about 900 high-quality marijuana plants, about three feet tall with big, fat buds reaching for LEDs.
“Every time I come here, it’s like an out-of-body experience,” says Morrow, 55, who founded Lume with Belle Tire magnates and brothers Robert and Donald Barnes in 2019. “I can’t believe we have a weed factory.”
To read the rest of this article on Forbes, Click here
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Cannabis News11 months ago“Our system can manage equipment across 10,000+ m² using just a few wires”
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Florida11 months agoFlorida Workshop to Discuss What Constitutes a ‘Cartoon’ in Hemp Packaging
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