![]() “We take the opportunity to educate customers around the holiday, and if they’ve never dabbed before, educate them on where would be the best place to start, what concentrate form would make the most sense for them,” Berkenstock said. consumers vastly prefer live resin to other types of concentrates at 34% of users compared with:īesides being an opportunity to sell more products through discounts and promotions, 7/10 can be an opportunity to create new concentrate users by educating consumers who are coming in to buy flower or edibles. It is also important to note, according to Headset, that U.S. Gen Z and millennial males tend to be the biggest concentrate consumers, at 14.4% and 11.6% of the total wallet share, respectively. Headset also reported that concentrates take up 8.3% of the U.S. While only 7% of cannabis users told Brightfield that celebrating 7/10 was important to them, compared with the 20% that said the same for 4/20, it can still make for a sizable jump in sales volume. In other words, concentrate users tend to consistently make up about a quarter of a cannabis retailer’s consumer base, even as the market expands. “Another thing to consider here is that cannabis users as a whole have been increasing.” “Which is quite interesting as we’ve seen other things increase, like vapes and gummies,” said Maddie Scanlon, cannabis insight analyst for Brightfield. That number has stayed relatively consistent from before the COVID-19 pandemic until now. “It’s not as aggressive as the spike we see on 4/20, but we definitely see a nice uptick, a nice increase in sales on 7/10,” Berkenstock said.Īccording to Brightfield Group, a Chicago-based emerging-markets research company, about 25% of all cannabis consumers have used concentrates within six months of the survey date, which varied as the report covered a compilation of data going back to the first quarter of 2020. While not nearly as many cannabis users celebrate 7/10 as they do 4/20, it still offers a good opportunity for retailers to run promotions, provide consumer education and sell more concentrates. ![]() “The folks that we look at as competition are absolutely participating.” “It’s a holiday that I think every cannabis retailer needs to take advantage of,” said Jason Berkenstock, vice president of retail for C3 Industries. Many retailers across the cannabis sector are running promotions for 7/10, including C3 Industries, an Ann Arbor, Michigan-based multistate, vertically integrated cannabis company. “This is especially true in more established markets like California.”Ĥ/20 and Cyber Week, tied to the Thanksgiving holiday, are the respective first- and second-biggest sales periods of the year, according to Jung. “7/10 tends to be the third-biggest sales period of the year, particularly as awareness around the day and interest in the concentrates category grows,” said Steven Jung, chief operating officer of San Francisco-based vape pod maker Pax. The name for the unofficial holiday – which falls on a Sunday this year – comes from the word “OIL” turned upside down, forming the numbers 7/10.Īccording to Seattle-based business intelligence platform Headset, concentrate sales increased by 67.4% on July 10, 2021, while rosin sales increased by 213% versus the preceding four Saturdays.
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