Data: Online Spending For Cannabis On 4/20 Doubled From 2019 To 2020
Spending on online cannabis orders usually increases leading up to 4/20, the international day of marijuana. This year, the increase was more pronounced than ever, new data from Edison Trends shows.
The growth in customer spending began during the ninth week of 2020 (Feb. 24 – March 1), as opposed to week 13 in 2019. During the week before 4/20 (April 13-19), customers spent 108% more than they had during the 16th week of 2019.
Looking at April 20 specifically, online spending on cannabis this year was up 109% over April 20, 2019, the firm said.
“Cannabis sales are on the rise and now is the time for all businesses to think creatively about how to keep their online sales going this year," Hetal Pandya, co-founder of Edison Trends, told Benzinga. "The uptick in marijuana consumption demonstrated in our Edison Trends’ research is important for struggling restaurants and food supplier brands to pay attention to because this shift could create a new opportunity for food delivery partnerships to be born.
"The combination of restaurants and cannabis just might offer a win-win relationship that both industries need moving forward.”
Lead image by Ilona Szentivanyi. Copyright: Benzinga.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.