Global legal cannabis spending is forecast to reach $47 billion in 2025, a number too big to ignore for many companies and industries. The U.S. will continue to be the largest global market, driven by more and more adult use markets opening.
- Independence Day and cannabis go hand-in-hand: “daytime fun” and well as “celebrating special events” are top occasions for cannabis consumption.
- Cannabis sales spiked in the days surrounding the July 4th holiday in 2019, increasing 31% between July 1-3, and 21% between July 4-6.
- Although inhalable products – flower and concentrates – comprised the majority of sales in the days surrounding July 4th 2019, ingestible products experienced a boost in sales before and after the holiday, increasing 27% during July 1-6 - with candy experiencing the sharpest increase of 50% during the first week in July
- Independence Day offers day-to-night festivities as well as opportunities for consumption. Inhalables are the top product choice for daytime and evening consumption, perfect for transitioning from backyard BBQs to late night fireworks!
- July 4th celebrations involve pairings of friends, food and festivities: 30% of consumers typically pair alcohol and cannabis in group settings.
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BOULDER, CO and TORONTO, May 20, 2020 /CNW/ - BDSA (formerly BDS Analytics), the leader in comprehensive, accurate and actionable cannabis market intelligence and consumer research, announced today they have become the Official Insights Partner of Business of Cannabis. Business of Cannabis is the preeminent B2B cannabis media platform in Canada.
BOULDER, Colo. — May 5, 2020 —BDSA (formerly BDS Analytics), the leader in comprehensive, accurate and actionable cannabis market intelligence and consumer research, announced today that Illinois retail cannabis sales exceeded $188 million in the first quarter of 2020, reflecting adult-use sales of $109.96 million and medical sales of $78.2 million. This year’s sales are projected to exceed $693 million, an increase of 176%, based on top-line sales projections modeled from point-of-sale transaction records.
The COVID-19 public health crisis reset societies around the globe in just a few short months. With more than 150,000 deaths as of this writing, per the Johns Hopkins coronavirus resource center, no aspect of our lives remains untouched. The Easter and Passover holidays were forced online and over 22 million Americans have lost their jobs in the last few weeks. Global economies are in shambles and economists are virtually guaranteeing a recession (i.e., two consecutive quarters of negative GDP growth).
Why have we implemented this change?
The answer lies in the core values of our company’s foundation: the desire to constantly improve, evolve and innovate the model of excellence within our industry. These values come second only to our primary mission of helping our clients grow their business and excel within their respective markets.
As part of our partnership with ACCRES, BDS Analytics' President and Co-Founder, Liz Stahura, recently presented a Cannabis 2.0 webinar for Canadian Retailers. Here are our Top Five takeaways:
Worldwide sales of legal cannabis re-accelerated in 2019, growing nearly 46% to almost $15 billion. The increase represents the largest yearly sales gain since Colorado launched adult-use sales in January, 2014. The growth is further magnified when compared to 2018, which only saw 17% growth.
Like many exhibitors and presenters at MJBizCon, we came away from the event invigorated by the hundreds of conversations we had with current & prospective clients. The exhibition floor was bustling, and the questions posed to us throughout the 3-day event certainly reaffirms what we already know: the industry is GROWING – but the where, who & how is still very much TBD.