As the cannabis industry gears up for the 4/20 celebration, Weedmaps is forecasting a significant boost in sales based on insights derived from user activities on their platform. The data from the previous year's 4/20 shows that Weedmaps experienced a doubling of their normal operations, indicating a successful celebration of marijuana consumption.
Weedmaps highlights the growing trend of consumers seeking value, with a 200% increase in orders that utilized deals on the platform during the 4/20 week of 2023 compared to the previous year. This surge in activity can be attributed to price reductions across various categories such as flowers, vape pens, and edibles, which experienced notable decreases in costs for the second consecutive year.
Moreover, the platform notes a rising usage trend, with a 100% increase in deal claims compared to 2022, suggesting that consumers are taking advantage of the cost savings offered during the 4/20 period. Despite deflation, the average order value on Weedmaps increased by 14% to $96.22 in 2023, indicating that consumers are willing to spend more on cannabis products during the celebration.
In terms of product preferences, vape pens saw a 29% growth over the previous year's 4/20, with a significant 126% increase compared to 2020, primarily driven by Gen Z consumers. Edibles, on the other hand, are favored by consumers aged 50 and above, contributing to almost half of all edible sales and experiencing a 36% rise in orders during the 4/20 week of 2023. Cannabis flowers remain a popular choice across all age groups, with a 47% surge in sales on 4/20 compared to the previous year, further increasing by 202% when compared to 4/20 in 2020.