LOUISVILLE, Colo. — Consumers are likely to still buy cannabis for the Fourth of July holiday weekend, despite concerns surrounding inflation, according to BDSA.
The data company said cannabis is consistently one of the last product consumers looking to cut costs stop buying.
In California last year, the Friday before the Fourth of July weekend saw the highest daily dollar sales for any day that month, with sales totally 30% higher than the daily sales average for July 2021.
Consumers have more options now, too, especially when it comes to beverages. The number of cannabis beverage brands has increased 25% from first quarter 2020 to first quarter 2022, BDSA said.
More than half of alcohol consumers ages 21 and over also consume cannabis, and BDSA expects consumption of cannabis wit alcohol to be a part of summer celebrations for a growing number of people.
Louisville, Colo.-based BDSA helps businesses improve revenues, reduce innovation risk and prioritize market expansion with accurate and actionable cannabis market intelligence, consumer research and advisory services. The company provides a holistic understanding of the cannabis market by generating insights from point-of-sale (POS) data, wholesale data, consumer research and market forecasts.
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