Robert Celt
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Although it won't be quite the stampede of Black Friday, 4/20 is expected to generate some serious revenue at Colorado dispensaries. The four days between April 17 and April 20 provided Colorado's pot shops with three of the state's highest-selling days in 2015, according to a recent report from BDS Analytics, which says that the average sales during that span was a little north of $4 million per day – almost double the $2.2 million average throughout the rest of the month.
"We knew, of course, that 4/20 is a retail bonanza for cannabis brands, dispensaries, grows and more," said BDS Analytics founder and CEO Roy Bingham in a statement accompanying the report. "Our data reveal its powerful impact." Here are some other highlights from the report.
Sales in Colorado are expected to exceed $5 million per day from April 15 to April 20:
This year's edition of 4/20 is projected to generate around $1 million more per day than on last year's holiday weekend, with all varieties of cannabis product sales expected to increase. Last year, cannabis-infused butter and massage oils saw dips in sales on 4/20.
The price of flower is on the decline: Since April 20, 2015, the average price per gram of marijuana flower has dropped 13 percent, from $6.67 to $5.57 today. Keep in mind, this is not the average price of a single gram for sale at a recreational dispensary in Colorado; the report uses numbers from both medical and recreational dispensaries, which sell most of their flower in eighths, half-ounces and other bulkier amounts.
Edibles continue to rise in popularity and price: Unlike flower and concentrates, the average pot-infused baked good has risen 18 cents, from $8.02 to $8.18. The price of candy bars has increased 45 cents, to an average of $16.27 per unit. In BDS's last report, the edibles market in Colorado grew three out of four quarters in 2015, with 63 percent of edibles sales attributed to baked goods and candy bars.
BDS says the growing size of the legal marijuana industry is largely responsible for the expected rise in sales year over year. Colorado pot shops saw an average of 30 percent more sales in January and February of 2016 compared with the same months last year, according to the data firm. There are now over 200 dispensaries, medical and recreational, in the Denver metro area alone.
Bingham says BDS surveys around 20 percent of Colorado's marijuana dispensaries and product manufacturers, giving the company an operational sample size to make estimates for the rest of the industry.
In June 2015, a poll by the Colorado Department of Public Health and Environment reported that 13.6 of Colorado adults over the age of eighteen identified as marijuana users. As of February 2015, Colorado's Medical Marijuana Registry had 108,675 registered patients.
News Moderator: Robert Celt 420 MAGAZINE ®
Full Article: Colorado Pot Sales Predicted To Be Brisk On 4/20
Author: Thomas Mitchell
Contact: Westword
Photo Credit: Lindsey Bartlett
Website: Westword
"We knew, of course, that 4/20 is a retail bonanza for cannabis brands, dispensaries, grows and more," said BDS Analytics founder and CEO Roy Bingham in a statement accompanying the report. "Our data reveal its powerful impact." Here are some other highlights from the report.
Sales in Colorado are expected to exceed $5 million per day from April 15 to April 20:
This year's edition of 4/20 is projected to generate around $1 million more per day than on last year's holiday weekend, with all varieties of cannabis product sales expected to increase. Last year, cannabis-infused butter and massage oils saw dips in sales on 4/20.
The price of flower is on the decline: Since April 20, 2015, the average price per gram of marijuana flower has dropped 13 percent, from $6.67 to $5.57 today. Keep in mind, this is not the average price of a single gram for sale at a recreational dispensary in Colorado; the report uses numbers from both medical and recreational dispensaries, which sell most of their flower in eighths, half-ounces and other bulkier amounts.
Edibles continue to rise in popularity and price: Unlike flower and concentrates, the average pot-infused baked good has risen 18 cents, from $8.02 to $8.18. The price of candy bars has increased 45 cents, to an average of $16.27 per unit. In BDS's last report, the edibles market in Colorado grew three out of four quarters in 2015, with 63 percent of edibles sales attributed to baked goods and candy bars.
BDS says the growing size of the legal marijuana industry is largely responsible for the expected rise in sales year over year. Colorado pot shops saw an average of 30 percent more sales in January and February of 2016 compared with the same months last year, according to the data firm. There are now over 200 dispensaries, medical and recreational, in the Denver metro area alone.
Bingham says BDS surveys around 20 percent of Colorado's marijuana dispensaries and product manufacturers, giving the company an operational sample size to make estimates for the rest of the industry.
In June 2015, a poll by the Colorado Department of Public Health and Environment reported that 13.6 of Colorado adults over the age of eighteen identified as marijuana users. As of February 2015, Colorado's Medical Marijuana Registry had 108,675 registered patients.
News Moderator: Robert Celt 420 MAGAZINE ®
Full Article: Colorado Pot Sales Predicted To Be Brisk On 4/20
Author: Thomas Mitchell
Contact: Westword
Photo Credit: Lindsey Bartlett
Website: Westword
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