{"id":3070,"date":"2016-05-07T23:24:06","date_gmt":"2016-05-07T23:24:06","guid":{"rendered":"http:\/\/www.medicalmarijuanainc.com\/?p=7237"},"modified":"2016-05-07T23:24:06","modified_gmt":"2016-05-07T23:24:06","slug":"420-a-big-day-for-u-s-marijuana-sales-media-coverage-for-medical-marijuana-inc","status":"publish","type":"post","link":"https:\/\/medicalmarijuanainc.com\/2016\/05\/07\/420-a-big-day-for-u-s-marijuana-sales-media-coverage-for-medical-marijuana-inc\/","title":{"rendered":"4\/20 a Big Day for U.S. Marijuana Sales, Media Coverage for Medical Marijuana, Inc."},"content":{"rendered":"

This year\u2019s unofficial cannabis holiday brought in nearly $38 million in marijuana sales in the United States, as well as a series of press articles highlighting Medical Marijuana Inc.’s leading position in the country’s booming industry.<\/span><\/i><\/h3>\n

Retail marijuana sales in the U.S. exceeded $37.5 million on April 20, the informal but popular annual holiday for cannabis culture. According to a report published by Denver-based seed-to-sale tracking software company\u00a0<\/span>MJ Freeway<\/span><\/a>, this year’s sales increased more than 15 percent from a year prior.<\/span><\/p>\n

The 4\/20 figures reflect a booming billion-dollar cannabis market. Cannabis sales totaled $5.7 billion in 2015 and are\u00a0<\/span>expected to reach $6.7 billion in 2016<\/span><\/a>.<\/span><\/p>\n

Further validating the U.S. cannabis market on 4\/20 was the prominence of media coverage<\/a> on the flourishing recreational and medical marijuana industries. Medical Marijuana Inc.’s\u00a0<\/span>AXIM\u00ae Biotechnologies<\/span><\/a> and their Oraximax\u2122 line of cannabinoid infused oral health products were highlighted in\u00a0<\/span>Fox Business<\/span><\/a> and\u00a0<\/span>CNN Money<\/span><\/a>.\u00a0<\/span>Vogue<\/span><\/a> showcased a couple of Kannaway\u2122 products, including\u00a0<\/span>Kannactiv\u2122<\/span><\/a> and\u00a0<\/span>Cannabis Beauty Defined\u2122<\/span><\/a>.<\/span><\/p>\n

The strong sales and abounding media coverage of this year\u2019s 4\/20 reflect an expanding industry and show that cannabis is shedding its unwarranted stigma. According to the MJ Freeway report, while consumers spent an average of $20 less per transaction, total consumer traffic increased by 30 percent this year compared to last.<\/span><\/p>\n

MJ Freeway\u2019s sales data figures were based on an analysis of 40 percent of the nation’s marijuana market. Values from medical and recreational sales through dispensaries and delivery services were included.<\/span><\/p>\n

\u201cComparing 2015 to 2016 April 20 sales shows trends for cannabis retailers related to toughening competition and a maturing market,\u201d said Jeannette Ward, MJ Freeway\u2019s Data & Marketing Director. \u201cConsumer traffic increased in 2016, but retailers used discounts and price incentives to lure customers.\u201d<\/span><\/p>\n

The notable bump in sales is presumably partly due to an overall shift toward an acceptance of marijuana and an acknowledgement of cannabis as a therapeutic agent. A May 2015 national survey by Harris Poll found that\u00a0<\/span>81 percent of Americans support the legalization of marijuana for medical purposes<\/span><\/a>, and a recent Gallup poll found that\u00a0<\/span>58 percent of Americans are in support of adult use legalization<\/span><\/a>. In addition,\u00a0<\/span>recreational marijuana sales began in Oregon<\/span><\/a> between last year\u2019s 4\/20 and this year\u2019s. Oregon became the fourth state to legalize adult use cannabis when voters supported Measure 91 in November 2014. The law took effect July 1, 2015.<\/span><\/p>\n

According to the report,\u00a0<\/span>Colorado<\/span><\/a>, a state that has legalized both medical and recreational marijuana, brought in the highest total average sales per day per licensed location. However,\u00a0<\/span>California<\/span><\/a> brought in the largest total retail sales, an impressive feat considering it\u2019s only adopted medical marijuana legislation (<\/span>though the state will be voting on a recreational marijuana initiative this November<\/span><\/a>). Still, when equivalized by population, Colorado outsold California in total dollar sales by 3 times.<\/span><\/p>\n

\u201cFor states, the comparison is telling from a total dollar sales and tax revenue perspective,\u201d Ward added. \u201cEven states with a broad and well-utilized medical market like California cannot match the sales traffic and spend of a regulated medical and adult use state like Colorado \u2013 not even close. April 20 sales results show that states with medical and adult-use cannabis markets win the revenue game.\u201d<\/span><\/p>\n

The report also found that retailers that stayed open seven days a week benefited more from the holiday, as shoppers ramped up their purchases up to five days in advance of 4\/20. The average daily retail totals for each dispensary and delivery service on April 20 equaled $10,822. Average sales on April 18 and 19 were $5,442 and $6,208, respectively.<\/span><\/p>\n

It’s likely sales on April 20, 2017 will be even higher than this year, as\u00a0<\/span>medical and recreational marijuana is expected to significantly expand throughout the nation in 2016<\/span><\/a>.<\/span> \t<\/p>\n","protected":false},"excerpt":{"rendered":"

This year\u2019s unofficial cannabis holiday brought in nearly $38 million in marijuana sales in the United States, as well as a series of press articles highlighting Medical Marijuana Inc.’s leading position in the country’s booming industry. Retail marijuana sales in the U.S. exceeded $37.5 million on April 20, the informal but popular annual holiday for […]<\/p>\n","protected":false},"author":1,"featured_media":3071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[160,161,185,217,162],"tags":[183,188,218,49],"class_list":["post-3070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-axim-biotechnologies","category-cannabis-beauty-defined","category-industry-updates","category-kannactiv","category-media-coverage","tag-axim-biotechnologies","tag-cannabis-beauty-defined","tag-kannactiv","tag-medical-marijuana-inc"],"yoast_head":"\n4\/20 Marijuana Sales | Medical Marijuana Inc.<\/title>\n<meta name=\"description\" content=\"4\/20 has always been the unofficial marijuana holiday and this year the sales number rose to nearly $38 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