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Cannabis has been sold legally for a few years and that means there’s a growing amount of sales and other data that can be collected and analyzed to study the developing market. A new market report from the cannabis data analytics company Headset studied seasonality of sales by month, day, and preferred purchasing hours by generation. The company looked at data from five states: California, Colorado, Nevada, Oregon, and Washington.
There’s a seasonality to cannabis sales the report found. Summer sales are strong as people go on vacation, are out of college, or participating in outdoor activities. October sales are typically slower and not a great time to launch marketing campaigns according to the report. There’s somewhat of a sales spike around holidays but not a significant one.
Previous Headset reports showed that Millennials and Gen Z strongly prefer traditional recreational products while Baby Boomers and the Silent Generation prefer wellness products like tinctures and sublingual products. Knowing which customers are coming on which days and times and for which type of products can help a retailer decide who to staff, depending on their product expertise.
While pre-rolled joints and other recreational products sell best on Friday and Saturday, the wellness category products like tinctures and sub lingual products outsell joints on Monday, Tuesday and Wednesday. Recreational products sell best after 7pm, showing they may be purchased for immediate use, while the wellness products are more likely to be sold in the morning.
There’s a rhythm to the week. Sundays and Mondays are the slowest sales days. Fridays see the most robust sales as consumers plan their weekend activities.
The busiest retail hours for selling cannabis are 2pm-7pm according the report. Colorado, which has