The unofficial cannabis holiday, 4/20, is blowing through once again, sending sales sky high. Cannabis tech firm Akerna predicts that U.S. cannabis shoppers will spend nearly $130 million on legal cannabis on April 20. This Wednesday could become the largest sales day in legal cannabis history.
To meet demand, Florida supplier Cannabis Promotions began preparing early. Ryan Tickle, vice president of sales, says, “We bring in a lot of extra staff from February through April and bring in over 1 million inventory units just for that period of time. We also add more shifts and equipment to maximize output.”
Last year’s holiday was the highest sales day ever recorded in retail cannabis. Consumers spent nearly $112 million on bud, vapes, rolling trays and other THC-related products. This year’s expected 4/20 sales would be a 16% growth over last year.
Sales are poised to increase as more markets legalize cannabis and more consumers get comfortable with the growing industry. In early April, the House passed a bill to federally decriminalize marijuana.
Tickle says, “The majority of America approves of cannabis being legalized, and we anticipate more states to fully legalize it and within a year or two; we expect it to be federally legalized. Cannabis is continuing to gain acceptance, and as it becomes legal in more states, it will continue to excel.”
From Friday, April 15 to Wednesday, cannabis sales figures are expected to rise above $400 million. For comparison, the state of Iowa had a record-breaking year of liquor sales, surpassing $400 million for the first-time last year. In just six days, the U.S. cannabis retail industry will have more sales than an entire state’s liquor sales during a record-breaking year.
Cannabis promos are a little different than other promotional products. “It’s a brand-new industry with some regulations,” Tickle says. “It’s important to understand your client’s needs, the laws/regulations and how to stay relevant. The good news is that these are not just one-time giveaways for an event or a pen that gets thrown away. Most dispensaries are using our items for packaging or retail, so these are typically large repeat orders that happen as often as every week or month.”
For distributors looking to offer cannabis promo, Tickle says get in fast. “Everyone remembers the first person to walk on the moon and not the second. This is one of the fastest-growing markets, and it’s a great opportunity no matter your location. Many companies still refuse to work or understand the space, which is a big mistake.
“We have seen distributors make 10X their current business by switching into selling cannabis promo and packaging items,” Tickle says.“In a market where regular promo items have been affected by COVID, cannabis items have only seen double-digit growth month over month and are recession-proof.”
Get into the holiday spirit with these cannabis promo products.
This full-color metal rolling tray is perfect for any 4/20 connoisseurs. Ideal for cannabis store openings, gifts with purchase and giveaways, clients can customize this tray with a full-color logo to be seen by your customers daily, creating a long-lasting branding moment.
The Proinnovative Line / PPAI 111156, S5 / www.proinnovative.com
Light up anytime, anywhere with this dependable USB arc lighter. There’s nothing to refill and no flints to replace. Not even the wind can stop you. Just charge it up with the included USB cord and you’ve got about 500 uses ready to go at the push of a button. This is a great product for smoke shops, dispensaries, giveaways and corporate gifts.
Cannabis Promotions / PPAI 755476, S1 / www.cannabispromotions.com
This Smokers Travel Kit is sure to create a buzz anywhere. Packed inside a neoprene zipper carrying case with a carabiner, this set includes a grinder, a pre-roll tube, a pop top container, and a rolling paper booklet. With the option of printing on the pouch or each individual product, this bundle is sure to spread the word. It’s the perfect giveaway for head shops, marijuana dispensaries, cannabis clubs and industry events.
Essef Distributors/Lincoln Line / PPAI 383490, S1 / www.lincolnline.com
Keep aromas in check with this discreet, sleek smell-proof bag with lock. This 11-inch pouch has carbon filtering technology in the liner and a polyester mesh lining to keep contents fresh. This convenient accessory is masterfully designed to easily fit in purses, bags and backpacks with a security lock to keep away from children.
Tekweld / PPAI 266346, S4 / www.tekweld.com
With a unique round shape, this wood grinder has a natural look and feel. This grinder has metal teeth components to easily shred materials when turned. Laser engrave your client’s company logo on the top for a one-of-a-kind giveaway or gift.
Active Life Promo / PPAI 436753, S1 / www.activelifepromo.com
