Holidaze Season: Green Successes Cited by Most Cannabis Retailers On 4/20

U.S. cannabis retailers saw strong sales on April 20, the peak day for cannabis purchases, despite challenges from widespread e-commerce platform outages.

According to reports from retailers, point-of-sale (POS) systems, and e-commerce operators, there was a significant uptick in revenue and customer traffic over the high holiday weekend. Despite some glitches with the Dutchie e-commerce platform experienced by a minority of users affecting less than 20% of Dutchie customers, the majority of retailers managed the surge in demand smoothly.

Cresco Labs (CRLBF), operating under the Sunnyside brand, celebrated its sixth high holiday with record-breaking performance across its 72-store network. Cory Rothschild, president of retail for the Chicago-based multistate operator, reported substantial increases in shoppers, grams sold, and revenue without any major disruptions.

The Cannabist Co. introduced over 40 new products during their in-house 4/20 celebrations, attracting significant crowds to their dispensaries.

Similarly, C3 Industries, parent of High Profile Cannabis Shop, exceeded its sales predictions with a 40% increase in same-store sales across its outlets in several states.

Headset, a cannabis industry analytics provider, highlighted notable increases in sales for infused beverages and concentrates.

As many cannabis companies prepare to announce earnings in the coming weeks and legislative talks continue it will be interesting to see if cannabis stocks get higher and tout green on the screen and the pockets of shareholders. Follow the PRISM Cannabis Index for more emerging cannabis companies.