How to Win on “Dab Day”: A Recap on 7/10 Sales
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Everyone familiar with the marijuana industry, recreationally or fiscally, knows April 20th (also known as 4/20) as the unofficial official day celebrating the use of the plant. Retailers everywhere stock up their inventory to prepare for this ‘holiday’, and for good reason: visits, purchases, and sales all skyrocket. Not a bad day for retailers right? Well, what if we told you there was another day dedicated to a different form of cannabis consumption- and that you just missed it? With the leading dispensary CRM in the cannabis industry, you would’ve known about it and profited from it, all from a customer loyalty program and few text messages.
who put the dabs in Dab Day
Enter July 10, National Dab Day; a day designated to celebrate cannabis concentrates. For the uninitiated, we can simplify dabs as various forms of high-grade hash, usually made with a process involving butane. Some names for different hash concentrates including:
Typically, these various forms of ‘dabs’ are consumed via dab rig, known as ‘dabbing’. Very prominent in the medicinal community due to its “quick-relief”, dabbing has gained some popularity for the same reason in the recreational community. Unlike the mysterious and unconfirmed origin of its April counterpart, the dubbing of July 10th is hilariously simple: someone realized the date 7/10 resembles the word ‘OIL’ when turned upside down, and boom- a holiday was born.
cause and effect
It’s unclear when celebrating 7/10 started but estimates place its birth in the early 2010s. You’re probably thinking “just because they picked a day to celebrate, doesn’t mean people will actually celebrate that quickly,” but your thinking would be mistaken- a lot of cannabis enthusiasts will celebrate anything, and there are stats to prove it.
Data collected by Headset from July 10, 2018 saw:
Total cannabis sales increased by 10%
That is an 18% increase from 2017
Concentrate purchases increased by 49%
vape pen sales increased by 36%
And that’s only from the whole country collectively. In the states where marijuana has been legal for the longest (Colorado and Washington), they saw concentrate sales increased by 78% and 100% respectively- yes, double the amount of cannabis oils- on 7/10 (a Monday) compared to a regular weekday.
And since you’re here, you already know what we’ll tell you will give your sales another shot in the arm: a customer relationship management (CRM) designed specifically to leverage your relationships with customers through your POS (point of sale), opening up a whole Narnia of customer retention possibilities.
dispensary CRM: us vs. them
Aside from those stats above, which our summer intern was able to get just from looking on the internet, the springbig CRM helps you collect and access more personalized data pertaining to your dispensary, helping you better understand your customers. Being able to reach out to your audience via text will let you gauge which customers are engaged with your campaigns, how many visits those translate to, and thus how much is spent at your dispensary.
For example, retailers using springbig CRM:
Sent out nearly 189% more texts in honor of Dab Day this past year
This led to a 14% increase in visits
It also correlates to a 29% increase in sales
On 7/10 our retail partners also saw nearly a 30% increase in the amount spent per visit compared to other weekdays, telling us that members of these loyalty programs like to take advantage of promotions. Still, we know some cannabis dispensaries could use some help with their text campaigns (don’t worry, we’re on it).
This year, on the day of 7/10 the dispensaries using springbig for loyalty rewards and cannabis text marketing showed $5.74 million in sales. That is an increase of over $1.5 million compared to just a few days before. What are you doing to get in on that dab-tastic action?
Summertime doesn’t give us many traditional holidays to celebrate, but it does offer up the perpetual chill vibes that we love it for bringing. Retailers always love the first week of July, especially with Independence Day. 7/10 extends the festivities into the second week and retailers in the cannabis business have the cannabis connoisseurs to thank for that. The extended holiday season gives you a chance to keep customers in festive moods with sales and loyalty promotions, and with springbig cannabis CRM, you’ll be more than prepared for next year.