How Brands and Retailers Can Continue to Profit from the Biggest Shopping Day in Cannabis History

With the holiday hype behind us, the team at Surfside set out to dig into this year’s 4/20 sales trends to understand where opportunity lies for cannabis brands and retailers. The good news is: you don’t have to wait until next April to implement these practices. We helped outline how operators can leverage consumer spending insights from the busiest shopping day of the year to improve their overall marketing strategy and make a lasting impact on their businesses, year-round.

April 20th, 2024 was a record-breaking day for cannabis sales nationwide

Cannabis sales on 4/20 were almost 3x higher than the year to-date daily average and 25% higher than the top shopping day in 2023 (which was, you guessed it, 4/20). This increase in demand can be attributed to a number of factors, including newly opened markets reaching higher levels of maturity and a general rise in cannabis consumption with the fading of old stigmas. Regardless of reason, it’s clear these trends show no signs of slowing, and experts predict that purchases of legal cannabis will only continue to climb, especially considering the rescheduling of marijuana that’s anticipated later this year and local legislation changes that will be on ballots in November.

What does this mean for brands and retailers? The payoff from having established brand awareness is higher than ever, and cannabis businesses that invest in an upper-funnel marketing strategy are at an immediate advantage to capitalize on the increase in market size and purchase frequency that we expect to continue to see. Just like Walmart doesn’t hold off until December to air their holiday commercials, cannabis operators should start amplifying their digital media presence months ahead of the polls opening and other tentpole events like 7/10 and July 4th.

Beverage & edible sales saw the highest spike of any category

On 4/20, beverage sales surged by an impressive 274%, followed by edibles at 202%. Flower maintained its top position in terms of most purchased category by units sold, followed by vapes. Sound familiar? We saw the same trend earlier this year around the Super Bowl. Whether for immediate social consumption or to simply stash during a sale, there’s a particularly heightened appetite for beverages and edibles around these key moments.

Mark your (promotional) calendars: Retailers and applicable brands should be proactive in pushing beverages and edibles around long weekends this summer and later in the year for Green Wednesday. Through Surfside Commerce Media, these products can be recommended to active online shoppers at the point-of-purchase during periods of peak interest.

4/20 is a day for canna-curious consumers to try something new

Surfside measured a 123% increase in first time purchases on 4/20 - a trend easily attributed to the temptation of lower prices, holiday hype, and community events successfully converting canna-curious consumers into novice newcomers.

If April showers bring May flowers, then the increase in new customers presents a major re-marketing opportunity for brands and retailers. In May, brands and retailers should ensure they are retargeting 4/20 shoppers to encourage repeat business, increase purchase frequency, and build brand loyalty. Through Surfside’s advanced retargeting tactics, enabling experiences like dynamic and sequential messaging, operators can transform seasonal splurges into recurring revenue.

If you caught Surfside’s Grow Books that were released ahead of 4/20, we hope we helped make this one your best yet! Either way, just because 4/20 is behind us for now doesn’t mean you have to wait until next year to reach sky-high sales. In fact, much of the strategy that we recommend for the greenest day of the year along with these subsequent insights can (and should) be adapted and applied in perpetuity.

Surfside has all the solutions marketers need to connect with new customers, build lasting relationships with existing ones, and take their businesses to the next level. If you’re ready for what’s next, contact us today to receive a custom media strategy that will allow you to continue to capitalize on this year’s 4/20 milestones and make the most out of those yet to come.