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According to data from the Seattle-based cannabis analytics firm Headset, recreational cannabis products increased by a range of 11% to 53% in 2018 during the pre-Christmas week when compared to sales at recreational stores in California, Colorado, Nevada, and Washington.
The most significant sales gains were seen with cannabis topicals (53%), beverages (36%), and edibles (36%). Although the data doesn’t reflect if the products were purchased for personal consumption or holiday gifting, it does provide valuable insight into cannabis consumer shopping habits.
One data analyst who works for Headset said the data reveals that “certain product categories show up more around gift-related holidays.” In fact, the analyst confirmed that cannabis retail patterns have been similar so far in 2019.
Here are some of the key findings from Headset’s analytics:
- Cannabis product sales increased overall by 15% during the week before Christmas
- Cannabis product sales decreased by 10% in the weeks following Christmas
- More retailers had above average product discounts the week before Christmas
- The average markdown on cannabis products is 11%
- Peak shopping hours for cannabis purchasers are from 1 p.m.-4 p.m.
Dedicated Cannabis Business Law Attorneys
Our seasoned attorneys at Purdy & Bailey, LLP are committed to helping business owners throughout San Diego navigate the cannabis industry. We have been representing clients for more than 65 years, and we will gladly provide you with the comprehensive legal services you need to protect your investment. From business formation to drafting contracts, we can handle all aspects of your business operation to ensure it is compliant with state laws and regulations.
To set up your case evaluation with Purdy & Bailey, LLP, call (858) 360-7080 today!