“The studios don’t seem to foster good writing…they’re more interested in what worked most recently…” – Bill Murray
I’ve been in the publishing industry for about 15 years.
With the constant deadlines and need to continuously ideate interesting content, it’s easy for a writer to research fewer hours, make fewer edits, or spend less time thinking about the big idea.
Perhaps that’s no sin in the entertainment industry. But in financial publishing, it is reckless. People lose money on sloppy advice – money they worked hard to earn.
Yet, I see that kind of lazy writing all the time in cannabis media.
Most recently, I saw it in an article that claimed April would be a “test” for how sales would do in the cannabis industry. The article was published on April 18, mind you. Anyone in the industry could have answered that question on April 4.
You can tell this writer wasn’t really in the industry. The content was out of touch and it wasn’t useful.
Strongest April on Record
Now, while I anecdotally know how April is panning out (I am the founder of a dispensary chain in Oregon, Hashstoria), I wanted to be sure it was reflective of the industry. So, I picked up the phone and called a few dispensary owners and managers in Oklahoma, Oregon, and Washington.
A $350 million industry powered by junk. Don’t miss Charlie’s special report, “How Lax Regulations Have Allowed Oklahoma’s Black Market to Thrive.”
Every one of them was having a tremendous month after a lull in late March. Sales were up between 25% to 45%. And this was before 4/20.
Then I looked to see if a point of sale (POS) company had released any national sales data. Sure enough, Flowhub, a popular cannabis POS, had data that showed a strong April across the United States.
The fact is, the coronavirus hasn’t stopped cannabis sales.
Quite the contrary. Average sales are up.
That said, consumers are no longer stocking up. They’re simply buying more since they don’t have to go to work the next day.
And while this is great, it doesn’t tell us how the next few months will pan out. As bankruptcies pick up across the country, we could see sales begin to crawl.
I’ll keep you in the loop. Because when you know those well-connected in the industry, answers come a lot faster.
Until next week,
Advisory Board Member, National Institute for Cannabis Investors
For cannabis businesses, 4/20 is one of the most profitable days of the year. And 2020 has proven to be no different, with cannabis sales in some states already exceeding highs seen in previous years. Here’s a closer look at this year’s historic 420…
4 responses to “This Is the Truth About Cannabis Sales in April”
April 22 2020