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, retailers 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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