LeafLink saw an impressive 101% year-over-year growth rate in transactions
Wholesale cannabis sales have been on the rise leading up to this year’s 4/20 holiday, according to data from LeafLink’s marketplace. The data shows that wholesale sales through the platform were up 13.8% in the four weeks leading up to 4/20 2023 compared to the previous four-week period.
Additionally, sales were up 18.3% in the four weeks leading up to 4/20 2023 compared to the same period last year, indicating a growing trend in the cannabis industry.
The week leading up to 4/20 2023 saw a 15.1% increase in wholesale sales through LeafLink’s platform compared to the average week so far in 2023. This suggests that the holiday season has been a significant driver of sales growth for the industry.
Furthermore, the growth rate for sales leading up to 4/20 in 2023 was 4.1 percentage points, or 42%, higher than 2022. This year’s 4/20 period saw a 13.8% growth rate in sales through LeafLink’s platform, while the same period in 2022 saw a growth rate of 9.7%.
Overall, LeafLink saw an impressive 101% year-over-year growth rate in transactions during the 2023 4/20 sales period when compared to 2022. This growth is a clear indication of the rapidly expanding legal cannabis industry, which is projected to reach $41.5 billion in sales by 2025, according to a report by New Frontier Data.
This year’s 4/20 sales period was marked by increased consumer demand for cannabis products, driven by a growing number of states legalizing both medical and recreational cannabis. The industry is expected to continue its upward trajectory as more states move towards legalization, providing opportunities for cannabis companies to expand their operations and reach new markets.