19 Apr Coronavirus is Harshening the 420 Buzz this Year
The coronavirus is screwing up 420! This virus has dampened a lot of things, but this is just too far!! Many 420 cannabis events have been canceled, gone virtual, and cannabis retailers aren’t going to be able to rely on the spike in sales that 420 normally brings.
What is the Deal With 420?
There are a lot of different stories and theories as to why 420 is the holiday that it now is in the cannabis community. For whatever reason, April 20th, or 420, is the most important day of the year when it comes to the cannabis industry. It is indeed a special holiday for this industry. Especially for those that make their money in this industry. People stock up on their buds, go to an event or just spend the day with friends, and dedicate this day to the herb. It is the biggest sales day of the year! On average, sales double on this day. According to data analytics company Headset, last year’s 4/20 saw sales increase 112% compared to the average sales prior four weeks.
Why is this 420 so Special?
This is a special year too… Not only is it 4/20 this year but it is 4/20/20! However, Headset also reported that sales volumes will be “substantially lower” than prior years. Also, they will be more spread out during the week due to customers avoiding crowds or to leave enough time for delivery. Cannabis sales jumped up in mid-March due to people stocking up for the “quarantine”, but then fell to below normal numbers after most states declared their cannabis industry as essential. The government stimulus check also appeared to boost sales too.
What it all comes down to is a lack of cash from the consumer. Yes, people are going to buy CBD and cannabis in these anxious times; however, when their funds run out there isn’t much that they can afford. The US currently has its highest unemployment rate in history!
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