Goodbye, 4/20. With so many parties, events and sales taking place during the long holiday, the retail environment most likely experienced a healthy boost in Colorado, as it did last year. In Oregon’s medical channel (adult-use for Oregon did not appear until June in OR) and Washington, however, 4/20 last year was not a sales bonanza. Soon, we will know if things developed differently in those states during this year’s festivities.
If 2016 is a reliable guide for this year, the next sales bump should come in September, when Labor Day Weekend generates a bounty of sales.
In Colorado’s enormous adult-use market, which sold $875.5 million in sales last year (compared to $438M in the state’s medical channel, $698.5 million in Washington, and $401.4 million through both of Oregon’s channels), September marked the biggest sales month of the year. During September, consumers spent $88.26 million on cannabis products. After September, sales dropped to $82.82 million in October, then fell further to $72.45 in November before rising again to $82.15 in December.
In Washington, September marks a spike in sales as well, rising from $67.76 in August to $70.68 in September. Sales drop to $68.92 in October. Data from last year in Oregon is not as helpful a guide for 2017, due to the bifurcated roll-out of adult-use sales in the state and some problems with state regulations that hindered sales in the fall. But if trends in Oregon track those in Colorado and Washington, the state should experience a mini cannabis boom in September.
While April arrives with lots of cannabis hoopla, September remains relatively modest about its relationship to cannabis sales. But if the month — and especially Labor Day Weekend — continues to juice cannabis sales, the cannabis industry might start trumpeting September as well. The candy industry revolves around a variety of holidays — Halloween, Christmas, Valentine’s Day and Easter. Surely cannabis can enjoy more than just 4/20.