MJ Freeway Reports Monumental Increase in Sales on 420

The popular cannabis sales management software company MJ Freeway has reported that retail cannabis sales surpassed $45 million on the unofficial holiday of April 20 this year—a 20 percent increase from the previous year’s sales.

MJ Freeway’s numbers were gathered through sales data figures that were collected via the company’s cannabis retail market share analysis. Through that information, it reportedly predicted the aforementioned 20 percent increase, as well as a 10 percent increase in customer traffic. The report also predicted a 10 percent increase in transactions during the week of April 20, which actually ended up being a 13 percent increase compared to the weekly average. The money made per transaction was at an average of $77.21 (a $10 increase from the 2017 average so far). Since April 20 is a popular holiday, many businesses established sales to increase customer traffic. This year, the average percentage of discounts applied to retail cannabis sales was 24.11 percent.

Sales increasing on April 20 is not necessarily a surprise to anyone, but MJ Freeway sees this large jump in sales as a reflection of the rapid growth of the industry. “With the increase in widespread acceptance of cannabis, we anticipated a large jump in U.S. sales for the holiday. 4/20 is an excellent opportunity for adults to purchase and consume products in a responsible, regulated market, while learning about the culture and history of the industry,” COO and Co-Founder of MJ Freeway, Jessica Billingsley, said in a statement.

MJ Freeway is one of the most popular seed-to-sale tracking companies that operates in 23 states in the U.S., with the addition of District of Columbia, and services other countries such as Canada, Europe and Australia.

The company is looking towards July 4 as the next major reflection of cannabis sales-driven holidays, which MJ Freeway describes as the third most highest ranking holiday in terms of total cannabis retail dollar sales (the second is New Year’s Eve, and the first is April 20).