06 Jul 2023

Maximizing Profits on Cannabis Holidays at Your Dispensary

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Isabel Carter

Cannabis holidays are the time of year when cannabis enthusiasts can celebrate the culture and consumption of cannabis. Among these holidays, April 20th (4/20) and July 10th (7/10) have emerged as prominent dates for cannabis enthusiasts worldwide. Understanding the significance of these holidays and incorporating them into your dispensaries marketing strategy can help you maximize profits and engage with your customer base. In this article, we will delve into the origins of 4/20 and 7/10, explore other cannabis holidays, provide relevant statistics to highlight their impact, and discuss strategies to make the most of these occasions at your dispensary.

4/20: The Cannabis Culture Celebration

April 20th, often referred to as 4/20, is widely recognized as a day to celebrate cannabis culture. 

4/20 Statistics:

  • According to a survey conducted by the National Cannabis Industry Association (NCIA), 4/20 is one of the highest-grossing sales days for the cannabis industry in the United States.
  • In 2020, cannabis sales on 4/20 in California alone reached approximately $48.4 million, according to data from BDS Analytics.
  • The same report revealed that flower sales accounted for the majority of purchases on 4/20, followed by vape products, edibles, and concentrates.

7/10: The Concentrate Day

July 10th, referred to as 7/10 or "Dab Day," specifically focuses on celebrating cannabis concentrates and extracts. The term "710" is the word "OIL" spelled upside down, representing the growing popularity of concentrates within the cannabis community.

7/10 Statistics:

  • According to Headset, a cannabis data analytics company, 7/10 has seen significant sales growth in recent years, with a 35% increase in concentrate sales on this day in 2020 compared to the previous year.
  • The same report highlighted that concentrates accounted for approximately 17% of cannabis sales on 7/10, surpassing the average daily concentrate sales throughout the year.

Other Cannabis Holidays:

While 4/20 and 7/10 are widely recognized, there are several other cannabis-related holidays celebrated by enthusiasts. Some of these include:

  • 2/1: National Hemp Day
  • 8/8: National CBD day
  • 10/5: Commemoration of the Victims of Prohibition
  • 11/6: Legalization Day

Strategies for Maximizing Profits on Cannabis Holidays:

Prepare an Engaging Marketing Campaign

  • Building anticipation and excitement among your target audience is crucial for a successful cannabis holiday promotion. Develop a comprehensive marketing campaign that spans across various platforms, such as social media, email newsletters, and local advertising. Utilize visually appealing graphics, captivating content, and catchy slogans related to 4/20, 7/10, or other cannabis holidays to capture attention and generate buzz. Engage with your audience through contests, giveaways, and interactive posts to encourage participation and create a sense of community.

Curate Special Product Offerings

  • To entice customers during cannabis holidays, consider curating special product offerings that align with the themes of 4/20, 7/10, or other relevant holidays. Create limited edition strains, concentrates, edibles, and accessories exclusive to these occasions. Collaborate with local cannabis brands or artists to design custom packaging or unique merchandise. Offering discounts, bundle deals, or freebies with qualifying purchases can also attract customers and increase sales. By providing unique and exclusive products, you'll generate a sense of urgency and exclusivity, encouraging customers to choose your dispensary over competitors.

Host In-Store Events and Educational Workshops

  • Organizing in-store events and educational workshops is an excellent way to draw in a larger audience and establish your dispensary as a hub for cannabis enthusiasts. Arrange educational sessions on cannabis consumption methods, responsible use, or the history and culture surrounding 4/20, 7/10, or other relevant holidays. Invite local industry experts, budtenders, or guest speakers to share their knowledge and engage with customers. Hosting events can help you build stronger relationships with your customers, increase brand loyalty, and create a memorable experience that keeps them coming back.

Collaborate with Local Businesses

  • Leverage the power of collaboration by partnering with local businesses that complement your dispensaries offerings. Reach out to nearby restaurants, cafes, or food trucks to offer joint promotions, where customers receive discounts or exclusive deals when they visit both establishments. Partnering with local cannabis-friendly venues or event organizers can help you cross-promote and expand your reach to a wider audience. By fostering these collaborations, you enhance your dispensaries visibility and attract new customers who may not have visited otherwise.

Enhance the Customer Experience

  • Creating a positive and memorable customer experience is crucial to drive repeat business and word-of-mouth referrals. Train your staff to provide exceptional customer service, ensuring they are knowledgeable about products, strains, and consumption methods. Consider implementing personalized recommendations based on customers' preferences and previous purchases. Enhance the ambiance of your dispensary with thematic decorations and music that reflect the festive spirit of 4/20, 7/10, or other relevant holidays. Offering refreshments or hosting small social gatherings can also create a welcoming atmosphere and encourage customers to spend more time browsing your offerings.

Capitalizing on cannabis holidays presents an exceptional opportunity for dispensaries to boost profits and engage with their customer base. By understanding the origins of 4/20 and 7/10, as well as other cannabis holidays, you can tailor your marketing strategies to resonate with cannabis enthusiasts. Remember to leverage statistics and industry data to support your decision-making process and optimize your dispensaries performance during these festive occasions. With thoughtful planning, creative promotions, and an emphasis on customer experience, you can make the most of these cannabis holidays and create a memorable experience for your customers.