July 10th, known as “7/10,” has quickly emerged as one of the most anticipated sales days of the year for cannabis dispensaries. As the popularity of concentrates continues to rise within the cannabis community, 7/10 presents a unique opportunity for more dispensaries to showcase their cannabis products, attract new customers, and drive significant sales.
In this blog, we will delve into the strategies and insights derived from analyzing the statistics from previous years’ April 20th and July 10th sales events. By understanding the cannabis campaign statistics, sales trends, and consumer preferences, we aim to equip cannabis dispensaries with the knowledge and tactics needed to succeed on this special day.
The date itself, “710,” holds symbolic significance, representing the inverted spelling of “OIL” and paying homage to concentrates like oils, extracts, and dabs.
Join us as we explore the top-selling categories, such as concentrates, vapes, infused pre-rolls, edibles, and more, to uncover the cannabis products that capture customer interest and drive sales on 7/10. From optimizing your marketing campaigns to leveraging upselling opportunities and limited-time deals, we will provide actionable insights and practical tips to help your dispensary seize the full potential of this thriving sales day.
Actionable Campaign Insights
Analyzing the campaign statistics from the previous 4/20 and 7/10 sales events provides valuable insights into customer behavior and preferences, helping more dispensaries develop effective strategies for the upcoming 7/10. Let’s examine the combined data and identify key trends to provide actionable insights:
Increased Engagement: Both 4/20 and 7/10 saw a significant increase in customer engagement compared to the previous year. The number of messages sent and visits made showed substantial growth, indicating a higher level of interest and interaction with cannabis dispensaries during these sales periods. This trend suggests that dispensaries should prioritize targeted marketing campaigns to capture customer attention and effectively communicate their offers and promotions.
Strong Revenue Potential: The total spend on both 4/20 and 7/10 demonstrated substantial revenue potential for cannabis dispensaries. The sales figures for both events surpassed the previous year’s results, indicating a growing market and customer willingness to spend on these occasions. Dispensaries should leverage this trend by optimizing their offerings, pricing strategies, and promotions to maximize sales and revenue generation.
Changing Average Basket Size: While the average basket size decreased on 4/20 compared to the previous year, it remained relatively consistent on 7/10. This suggests that customers may be more price-conscious on 4/20 but maintain a similar spending pattern on 7/10. Dispensaries can capitalize on this insight by offering attractive deals, bundles, or upselling opportunities to increase the average transaction value and drive revenue growth.
Category Preferences: Analyzing the top-selling categories on both 4/20 and 7/10 provides crucial insights into customer preferences. Flower, vapes, and pre-rolls consistently ranked among the top weed categories, indicating their popularity and demand during these sales events. However, there were some variations between the two dates, with edibles being more favored on 4/20 and concentrates gaining prominence on 7/10. Dispensaries should take these preferences into account when planning their cannabis assortment and promotional strategies for 7/10, ensuring they cater to the specific preferences of their customer base.
ROI and Targeted Messaging: While the overall return on investment (ROI) slightly decreased from 4/20 to 7/10, both events demonstrated positive ROI, affirming the effectiveness of marketing campaigns in driving sales. Dispensaries should focus on crafting targeted and compelling messages to capture customer attention and generate maximum impact during the 7/10 sales event.
By considering these insights, dispensaries can develop comprehensive strategies for the upcoming 7/10, including targeted marketing campaigns, optimizing product offerings, and leveraging popular categories to enhance customer engagement, drive sales, and maximize revenue potential.
Cannabis Sales Statistics: 4/20 and 7/10
By examining the combined statistics from last year’s 7/10 and 4/20 earlier this year, we can uncover actionable ideas for dispensaries to maximize cannabis sales and success on the upcoming 7/10. Let’s explore the key insights:
Overall Sales Growth: Both 4/20 and 7/10 experienced significant sales growth compared to the previous year, indicating a thriving market and increasing customer demand. Cannabis dispensaries should anticipate a similar upward trend for 7/10 this year and prepare their inventory, staffing, and marketing efforts accordingly to capitalize on the heightened sales potential.
Increasing Total Visits: The number of total visits on both 4/20 and 7/10 demonstrated considerable growth, reflecting a higher influx of customers during these sales events. Dispensaries should focus on optimizing their store layout, enhancing customer experience, and ensuring adequate staffing to accommodate the anticipated increase in foot traffic on 7/10. Implementing measures to reduce wait times and provide personalized assistance can help dispensaries make the most of this heightened customer engagement.
Category Insights: Analyzing the top-selling categories on both 4/20 and 7/10 offers valuable guidance for cannabis dispensaries. Flower, vapes, and pre-rolls consistently ranked among the most popular category types on both dates. This indicates a strong market demand for these products during sales events. Dispensaries should ensure they have a well-stocked inventory of these items, showcasing a variety of strains and flavors to cater to diverse customer preferences.
Furthermore, it is noteworthy that edibles were more favored on 4/20, whereas concentrates gained prominence on 7/10. Dispensaries should align their cannabis assortment and promotional strategies accordingly to cater to these specific category preferences during the upcoming 7/10. This may involve highlighting special deals or discounts on popular edibles or featuring a wide selection of concentrates and other products to capture customer interest.
By considering these sales statistics insights, dispensaries can develop effective strategies to optimize their cannabis product offerings, sales promotions, and customer engagement efforts for 7/10. Leveraging the growing market demand, capitalizing on customer preferences, and providing an exceptional purchasing experience will position dispensaries for success and maximize sales on this significant cannabis sales day.
Getting Your Dispensaries Ready for 7/10
As we approach this year’s 7/10, armed with the insights gained from analyzing the campaign and sales statistics from previous years, dispensaries have the opportunity to develop a well-rounded game plan to maximize their success.
To ensure a successful 7/10, dispensaries should focus on the following strategies:
- Tailor Marketing Campaigns: Build upon the success of previous campaigns by leveraging data-driven insights. Craft targeted marketing messages to engage customers and drive sales. Emphasize promotions, discounts, and special deals on popular categories like concentrates, vapes, and pre-rolls. Highlight the products that resonate most with customers during this event.
- Optimize Store Operations: Anticipate increased foot traffic and plan for a seamless customer experience. Implement efficient store layouts, manage staffing levels effectively, and consider utilizing technology solutions to streamline operations, reduce wait times, and enhance customer satisfaction.
- Curate Product Assortments: Stock up on the products that have historically performed well on 7/10, such as concentrates, vapes, and pre-rolls. Offer a diverse selection of strains, flavors, and varieties to cater to different customer preferences.
- Enhance Customer Engagement: Create an inviting and personalized shopping experience. Train staff to provide knowledgeable assistance and recommendations to customers. Consider implementing exclusive perks for 7/10 customers to encourage repeat visits and build customer loyalty.
- Leverage Online Presence: Capitalize on the digital space to promote 7/10 sales and deals. Optimize your website, social media platforms, and email/text marketing to generate buzz and reach a wider audience. Consider pre-order options or online-exclusive promotions to cater to customer preferences and convenience.
By implementing these strategies based on the insights gathered from previous 4/20 and 7/10 holidays, cannabis dispensaries can position themselves for success on this highly anticipated sales day. It’s crucial to be proactive in understanding customer behaviors, adapting to market trends, and creating an exceptional experience that exceeds customer expectations. With careful planning and execution, cannabis dispensaries can leverage the 7/10 opportunity to drive sales, cultivate customer loyalty, and establish their brand as a leader in the cannabis industry.
