April 20 has become one of the biggest single-day sales events for U.S. cannabis retailers, who often roll out specials and celebrations around the unofficial cannabis holiday. But one U.S. retailer said it plans to close up shop on 4/20 this year.
Last year, Easter Sunday and April 20 coincided, leading to a drop in 4/20 cannabis sales year over year. But sales for the weekend of 4/20 still outpaced the previous year's numbers to set new records, according to cannabis tech platform Sweed.
Sweed analysts found that total purchases for the weekend were up 63% year-over-year, while the number of products sold jumped by 81%. Retailer profit margins also climbed, and the industry saw a 65% increase in unique buyers.
It's a major revenue day for licensed cannabis retailers. Nevertheless, Ethos Cannabis, a multi-state operator with operations in Pennsylvania, Massachusetts and Ohio, said it will shut down every store in every market, giving every Ethos employee a paid day off to spend however they choose. However, the company said wholesale operations will run as normal.
"4/20 started as something simple and personal with friends, flower, and time together," said Ethos CEO Gibran Washington in a statement. "Somewhere along the way, the day got louder. What began as a celebration of the plant is closer today to a retail frenzy, with discounts and doorbusters driving the conversation instead of intention and care. This year, we're reclaiming 4/20 for what it was always meant to be, a genuine celebration of the plant, the people who love it, and the patients whose lives it changes.”
"If the loudest message on 4/20 is about the price of cannabis, we train people to see it as a commodity, a race to the bottom for operators, not a product that deserves care, education, and trust. We want to change the conversation and get back to the original spirit of 4/20, because the long-term health of this industry depends on it."
Ethos said it will be running a “More Than a Day” campaign throughout April with programming including physician-led content, curated product discovery, and education that helps patients find what works for them. Dr. William McLay, Ethos' lead pharmacist and medical expert, will lend his perspectives to the company's strain descriptions, video content and patient-facing educational resources.
"What people actually need from cannabis rarely starts with a discount," said McLay in a statement. "It starts with someone who will actually listen. I work directly with patients every day, and what I hear consistently is that they want guidance they can trust over a sale that creates urgency. That's what the ‘More Than a Day’ campaign is built around."
