710, the day of the dabs, our most highly concentrated cannabis holiday has come and gone. Traditionally, 710 is overshadowed by the prior weekend’s Fourth of July celebrations (a trend we also saw this year with over $365 million in sales). Let’s start by looking at the numbers:
In 2022, 710 drove $46.7 million in sales.
In 2023, 710 drove $61.1 million in sales, a 26.7% increase year over year.
Throughout 2023 to date, we saw the vape category as 33.0% of all sales on average, a huge number. On 710 this year, we saw vape shoot up to 36.9% of all sales. 710 also inspired dab sales, a more niche market. On average we see concentrates account for 10.34% of all medicated sales but that number shot up to 12.86% on 710.
Naturally, some of that is credited to more and more regions allowing for medicated cannabis sales so with a larger area of effect, a larger sales quantity is expected. The cultural wave of concentrates also has a major stake in the success of 710.
That breaks down to the core concept that cannabis consumers are becoming more familiar with the community of cannabis users and are beginning to acknowledge celebrations within that community. As we discussed in our History of 710, 710 has been celebrated for just over a decade now and is well on its way to being a contemporary to 420.
We can also accredit the rise of 710 to community-based events creating conversation around the concentrate-focused celebration. In Nevada, the Las Vegas cannabis community gathered at the Cannabis Awards Music Festival at the infamous Area 15. Colorado hosted the THC Championship Gold Awards Party in Denver as well to ring in the holiday. 710 events themselves have become a staple of the summer and the cult of concentrates grows stronger every year.
For more industry insights, stay tuned to our blog.
