Unparalleled 4/20: Weedmaps Unveils Consumer Trends Ahead Of Cannabis Industry's Biggest Holiday
Portfolio Pulse from Rolando García
Weedmaps (NASDAQ:MAPS) reports significant consumer trends ahead of 4/20, highlighting a substantial increase in sales, orders, and consumer engagement on the platform. Data shows a 200% surge in deal redemptions, a 100% increase in deal claims, and notable price reductions across cannabis products. The average order value rose to $96.22, a 14% increase, with a 25% increase in items per basket. Vape pens, edibles, and cannabis flowers saw significant growth in orders, particularly among Gen Z and consumers aged 50+.
April 19, 2024 | 10:44 pm
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Weedmaps experiences a significant uptick in user engagement and sales ahead of 4/20, with a 200% increase in deal redemptions, a 100% rise in deal claims, and a 14% increase in average order value to $96.22. Sales of vape pens, edibles, and flowers have also seen remarkable growth.
The reported increases in sales, order values, and consumer engagement directly correlate with Weedmaps' business performance. The significant growth in specific product categories like vape pens, edibles, and flowers, coupled with overall sales boosts, suggests a positive short-term impact on MAPS stock. The data indicates strong consumer demand and operational success, likely leading to increased revenue and potentially positive investor sentiment.
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