Cannabis companies look to ‘4/20’ to light up sales
Cannabis companies across North America are pulling out all the stops to capitalise on 4/20 and generate bumper sales.
According to Reuters, industry insiders expected their highest single-day of sales in history yesterday.
Cannabis wholesale platform Leaflink said it expects sales of infused flowers and pre-rolls to skyrocket between 500-1000% compared to last year.
Sales are also likely to get a further boost from the day falling on a Thursday this year, as according to data from cannabis BDSA, cannabis retailers see more sales on Thursdays than on Wednesdays and Tuesdays.
As Canadian medical cannabis slump continues, survey says cost an issue
One of the largest surveys ‘to examine Canadians’ medical cannabis use and experiences in the past decade’ has suggested that high medical cannabis costs are still presenting major issues for patients.
The Medical Cannabis Access Survey, which surveyed 5,744 ‘daily consumers of medical cannabis’ over five months in 2022, found that just 6% of respondents were receiving reimbursement for medical-cannabis expenses, MJBizDaily reported.
Furthermore, it found that median out-of-pocket spending on medical cannabis was CA$125 per month, and 39% of respondents spent more than CA$200 per month.
Dr. Michael Dworkind, a palliative care physician and medical director of Sante Cannabis, described the costs as ‘a travesty’.
“In our socialized health care system, people should not be paying for their drugs.”
Report: Colorado Cannabis Sales on the Decline
A new report suggests that cannabis sales in Colorado fell by 14.2% year-on-year in February to $124m.
Ganjapreneur reports that new figures from the State Department of Revenue show that adult-use cannabis sales dropped by 12.7% year-over-year, while medical cannabis sales have fallen 23.7% year-over-year.
This saw cannabis sales tax collections drop 19% last month, while more than 10,000 cannabis jobs were lost last year according to the Vangst 2023 Jobs Report.
Tiffany Goldman, board chair of the Marijuana Industry Group, said that the organization is “already seeing business owners close their doors and leave Colorado, taking critical jobs and tax revenue with them.