Fourth of July Weekend Expected to Bring More Than $206 Million in Legal Cannabis Sales
Fireworks aren't the only thing getting lit this holiday.
Move over hot dogs, beer, and fireworks. Weed officially has a seat at the Fourth of July picnic table.
Sales for legal cannabis are projected to skyrocket for the holiday weekend, with Friday, July 2, being the biggest day for purchases across the country. According to Akerna Corp., a regulatory compliance technology company that tracks worldwide cannabis sales, data shows that the retail spike will top $206 million, with nearly $91 million on Friday alone — the second highest sales day for 2021 (after 420, of course).
“Year over year, we’ve seen a 23% increase in the number of products consumers and patients are purchasing for the 4th of July holiday weekend,” said James Ahrendt, business intelligence architect at Akerna. “With the holiday falling on a Sunday this year, dispensaries should be evaluating staffing and preparing inventory ahead of the weekend to ensure they are ready to accommodate these increases in both traffic and sales.”
Saturday, July 3rd, should bring in another $72 million of cannabis sales, and Sunday, July 4th is predicted to garner an additional $43 million. Sundays are historically the lowest sales day of the week, but it will be elevated because of the holiday.
With more states permitting adult-consumption or medical cannabis programs, it’s clearly as American as the holiday itself. Connecticut is the most recent state to legalize, with legal use and possession laws going into effect in two states — New Mexico and Virginia — this week alone.
Akerna projects consumers will spend around $100 total on cannabis products, including flower, where most of the money goes, cartridges and oils, and edibles. That’s more than what they’re expected to spend on food and other fun treats, which is around $80 per person, according to the National Retail Federation.