The past year has been huge for cannabis retail, and it’s all been leading to this day. The first 420 since Canada legalized cannabis. The first 420 in five years to fall on a weekend. We knew it would be huge, and the numbers did not disappoint.
Once again, there were no major technical glitches, service interruptions, or even lag in processing. Our customers were able to maintain seamless transactions—and in turn happy customers—even during peak hours.Cannabis sales were incredible. Cova processed a record number of transactions on the days leading up to 420, and then saw the highest cannabis retail sales ever on the big day.
Compared to the previous Saturday, sales were up by over 100%. Profit and traffic nearly doubled. Here are some highlights of the sales data collected by retailers across the US and Canada using Cova POS, excluding Ontario stores.
- Average 420 sales per store across North America: $15.8K USD ($21.2K CAD)
- Average gross profit per store: $7K USD ($9.4K CAD)
- Average customer transactions per store: 303
- Average spent per transaction: $52 USD ($70 CAD)
Despite the momentum behind national legalization, Canadian stores were outperformed on 420 by American cannabis retailers. Not surprising, given that the US market is more mature and the population is significantly higher. Also, strict marketing regulations in Canada may be playing a part.
Interestingly, data shows that at an average of $60 USD per transaction, US cannabis customers spent nearly double on 420 what they did on the previous Saturday. The Canadian average of $47 CAD per purchase, however, is pretty much on par with the typical transaction one week earlier. It seems more Canadians are out buying Cannabis to celebrate 420, but they’re not buying much more of it.
For more numbers, and to see a snapshot how sales spiked on 420 compared to the previous Saturday, April 13th, check out Cova’s 420 infographic:
Cova’s proudest numbers: 0 outages, 100% uptime. The POS handled high volume all day long with no slowdowns, and a lightning fast average processing time of just 1.4 seconds. Learn more about Cova POS.