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3d ago Cannabis greenmarketreport Views: 92

July 10 or Dab Day is turning into a dud day. It’s also called “oil” day and the idea is that 710 upside down spells oil. It’s supposed to be a day that celebrates vaping and consuming oil or concentrate cannabis products. No one is sure where or how the holiday got started or how it went from Oil Day to Dab Day. Still, dispensaries and brands have been game to throw a Dab Day party, but the consumers seem less than impressed. Headset Sees Decrease Headset provided Green Market Report with data from this year’s 710 sales and cannabis sales actually decreased. Concentrate sales did increase and were the only category to do so.All data for the US is from CA, CO, NV, OR, PA, and WA and all data for Canada is from AB, BC, and SK Total Sales Growth On Dab Day 2021 (7/10/21) total US cannabis sales decreased by -10.4% over an average of the previous four Saturdays. Canadian cannabis markets also saw a decrease in sales of -2.6% over the same time frame. Category Sales Growth In the U.S., concentrates sales increased by 24.1% and were the only category that enjoyed positive growth. “Vapor pens, which we’ve seen also get a little lift from ‘Dab Day’ in the past, decreased in sales by – 13.5%. Unlike the US, ‘Dab Day’ was not as successful in Canada; Concentrate sales decreased by -5.1%. Vapor Pens also didn’t see a lift during Dab Day within Canada, with a sales decrease of -2.0%.” Concentrate Segment Growth In the US on Dab Day 2021, Rosin products had the strongest growth, increasing in sales by 213% over the previous four Saturdays. Crystalline / THCA / CBDA (+75.3%) was the next most successful segment. Dab Day Discounts There was certainly a concerted effort to get consumers on board with celebrating. Dispensaries and brands were running promotions like crazy. According to Headset, “Dab Day was a fantastic day for American Concentrate fans to stock up on products this year. In the US the average discount on Concentrates grew by a whopping 52%, rising from 14.6% during the previous four weeks to 22.3% on 7/10/2021. Eaze Data Confirms Dud Day Cannabis delivery companyEaze data also confirmed that sales fell this July 10 versus last year’s July 10. Considering the country was mostly in lockdowns at this time last year, that’s a real rejection of the Dab Day party. Chart provided by Eaze Dud Day There are many reasons why Dab Day just isn’t resonating with consumers. First, it falls too soon after the Fourth of July. Cannabis sales for the fourth are typically pretty high and consumers likely have no need to make more purchases. Headset reported that this year on the 4th of July, total cannabis sales in California, Colorado, Nevada, Oregon, Pennsylvania, and Washington increased by +8% during 7/1- 7/4 compared to the previous four weeks. “Pennsylvania and California markets saw the largest increase with +12% growth, while Nevada’s market shrank -5.4% over the holiday weekend. All cannabis categories grew in sales compared to the previous four weeks, and Tinctures were the most successful cannabis products with +23.6% growth. Edibles (+16.4%) and Beverages (+14.5%) also saw significant growth. Within the Edibles category, the ‘Cookies’ segment performed particularly well with +19.4% sales growth.” By referring to it as Dab Day versus oil day, the vape category tends to get cut out of the picture. That would explain why concentrate sales got a boost, but vape sales fell. It feels like a made-up holiday and that lack of authenticity doesn’t sit well with cannabis consumers. Cannabis marketing firm Wick & Mortar’s CEO Jared Mirsky said, “Honestly I think the entire idea behind 710, which is oil flipped upside down, is kinda ridiculous and only makes the industry look unprofessional. We have to be more clever than this moving forward if we are going to make larger strides towards destigmatizing cannabis for everyone else who has yet to become a brand’s loyal consumer. Don’t get me wrong, I am a heavy consumer and take dabs daily, but not for one second do I take 7/10 seriously as I believe many others don’t either and only comes off now as a sales tactic.” In Closing It’s unlikely that 710 will fade away. The industry is built on the back of partying and any excuse to consume is a good one. Still, the hoopla could end up dying down as dispensaries and brands learn that it isn’t paying off. Maybe Mirsky is right, the industry could get more creative, and if it wants to create a special holiday akin to 420, it should pick a date further from an established holiday. Dab Day Is A Dud on Green Market Report. -

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