MJ Freeway: US cannabis retailers saw record 4/20 sales, firm gets new CEO

MJ Freeway, a major point-of-sale software provider for the cannabis industry, reported that marijuana retailers rang up their highest sales in history on April 20 – no doubt helped by the 4/20 MJ holiday landing on a Friday.

Sales among MJ Freeway’s clients nationwide totaled $87 million, a 61% increase from last year.

The Denver company said that more than one-third of industry sales on 4/20 were transacted over its software platform.

Traditionally, 4/20 is the biggest day of the year for retailers, because stores offer large discounts and aggressively advertise and promote their products.

According to MJ Freeway data,┬áretailers reported that customer traffic was 2.85 times the daily average. The average retail transaction ticket for the day was $109.23 – $10 more than the daily average.

Other data points from 4/20:

  • 62% of customers were male.
  • Men 30-40 years old accounted for the largest group of customers at 31%.
  • Women 30-40 years old were the largest group of female customers, making up 29% of female shoppers.
  • Flower was the most popular product.

Separately, the company announced that co-founder Amy Poinsett is stepping aside as CEO to become board chair, and co-founder and President Jessica Billingsley is taking over as CEO. They co-founded the company in 2010.

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