Cova In The News

4/20's Selling Power Still Strong

In-store sales returned with a bang in 2022 and retail statistics were logged by Cova Software measuring sales from their clients’ POS systems. When Cova ranked sales on 4/20, 2022 against other major Canadian holidays it did well.

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Inflation: is it affecting the cannabis market?

Inflation is at a record high, but cannabis prices are continuing to fall. North America’s number one cannabis point of sale software, Cova, has seen “some inflationary effects” on the cannabis industry, especially early in the supply chain.

CANNABIS SALES UP 8.4% ON 4/20

So far, April 20 has been one of the biggest sales days of the year in the cannabis industry on both sides of the border, and this year is no different, despite the lingering pandemic inciting more lockdowns after surges in COVID-19 cases. Cova reports that during peak hours on 4/20, it was processing 380 cannabis transactions per minute, with a total of 180,000 transactions for the day processed over more than 1,200 retailers.

420 Cannabis Holiday Retail Traffic Up 10% in 2021

Cannabis retail traffic was up 9.5%, and sales rebounded 8.4% year-over-year on 4/20, according to Cova Software, the largest Cannabis Point of Sale (POS) company in North America. While major outages plagued several big POS systems, Cova reported its 4th straight year of perfect uptime (100%) and benchmark transaction speeds (1.4 seconds). During peak hours on 4/20, Cova was processing 380 cannabis transactions per minute, and handled over 180,000 transactions for the day across 1,200+ dispensaries.

COVID Shows Cannabis Industry's Resiliency

Despite significant disruptions, a report surveying over 700 cannabis industry decision-makers before and during the pandemic shows that cannabis is "oddly well positioned" to endure thanks to customer demand, government support, and a strong supply chain.
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