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Cannabis Sales to Cause Fireworks on 4th of July

A report predicts cannaseurs will celebrate Independence Day in record numbers.

Opinions expressed by Entrepreneur contributors are their own.

Cannabis is poised to make a big boom on the 4th of July 2022. And consumers, brands, and retailers will be celebrating.

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Analytics company BDSA predicts July 4th to bring a double-digit increase in daily dollar sales for days surrounding the holiday and earn the highest dollar daily sales total for any day this summer.

"Given that many consumers are also cutting down on travel due to high fuel costs, cannabis will likely be a fixture of this weekend for many," says Liz Stahura, co-founder and COO of BDSA.

More 4th of July and cannabis predictions

In their report, BDSA lays out a number of other forecasts about cannabis consumption on America's birthday, holding these truths to be self-evident.

  • Despite a stagnant economy and rising prices, the cannabis industry appears to be somewhat recession-proof. Sales figures have shown that cannabis is consistently one of the last products consumers looking to cut costs will cut out of their diet.
  • In California last year, the Friday preceding Independence Day saw the highest daily dollar sales for any day that month. Sales were 30 percent higher than the daily sales average for July 2021.
  • Cannabis beverages are poised to be a popular beer alternative on the 4th of July. BDSA Retail Sales Tracking shows that the number of cannabis beverage brands has increased ~25% between Q1 2020 and Q1 2022, and social gatherings and warm weather could boost beverage sales across mature markets
  • Even those who do consume alcohol on July 4th will likely turn to cannabis as well. Fifty-six percent of all alcohol consumers aged 21 and over also consume cannabis, a 7 percent increase since Q4 2020. BDSA expects co-consumption of cannabis with alcohol to be a part of the summer celebrations for a growing number of revelers
  • Sierra Nevada look out. Cannabis may challenge craft beer's space on the holiday weekend, as nearly 40 percent indicate summer celebrations where craft beer is typically consumed are also a cannabis occasion