What is 710?: How Our Holidays Can Shape Business Development
What is 710?
So, what exactly is 710? Much like 420, 710 is a code term used to represent smoking cannabis oil. Although the origin of 710 remains a mystery, the term has come to represent a niche of cannabis users – dabbers. The number 710 upside down spells out oil. Whether this is the true origin of the concept or a fitting coincidence, 710 represents this specific form of consumption. Celebrations and recognition for the term come in many forms ranging from dabbing at a specific time (7:10 am/pm) or attending a community celebration on July 10th (7/10). While many consumers recognize the influential 4/20 as a cannabis holiday, many are unaware of the significance of 7/10 and what it means for the community.
Overall, many shops and brands host events and recognize 7/10 as a niche holiday, more targeted to a select group within the community. If your business is 710 friendly, there are many ways to incorporate this concept into your sales efforts.
710 and Cannabusiness
Cannabis oil, more specifically concentrates or extracts, has grown in popularity and has become one of the fastest-growing categories for retail sales. Many shops and brands host events and recognize 7/10 as a niche holiday, more targeted to a select group within the community. If your business is 710 friendly, there are many ways to incorporate this concept into your business. Data has shown that 7/10 is a notable holiday for consumers and impactful enough to be noticed by businesses. In comparison to an average day, sales of concentrates in dispensaries increased 34% on July 10. Many oil companies are seizing the opportunity to use the holiday to support their sales. Here are some successful practices for boosting concentrate sales for the cannabis holiday season:
1. Host an In-Store event
Hosting an in-store event can attract new consumers to overcome the barriers of switching modes of consumption. An event can educate buyers who normally do not buy concentrate products on the benefits of different methods. Additionally, these events can also be an opportunity to showcase your business’s newest equipment and products, and in turn, attract new customers. Business owners should consider partnering with brands to offer promotions and discounts on concentrate products during this time. Above all, marketing these opportunities specifically to oil newbies can boost sales in this category.
2. Encourage High Volume Sales From Enthusiasts
Oil and dab enthusiasts will be keen on these products and processes already. To give them a reason to purchase in high volume on 7/10, a business owner should work with brands to offer promotional deals. Pricing the product 10-15% below the average will support additional sales. As a result, dabbers can take advantage of these sales while oils are at the top of their mind.
Although 710 does not hold equally widespread popularity as its counterpart 420, consumers who celebrate 7/10 seem to have a stronger reaction. Currently, July 10th stands as a consumer-driven holiday for people who consider oil a big part of their lives. As a business owner, one should prepare for the increase in demand for dab products as this date approaches year after year. Whether it is with a celebratory dab or a promotional event in your business, make sure to find time to observe the upcoming holiday.
How Point7 Can Help:
Point7 is always looking for more businesses to help. If you are looking to acknowledge this upcoming event in your business, find out how we can help. We offer consulting services in every aspect of your cannabis business, from application submissions to branding and design. To find out more about our services, click here. As always, we offer a free exploratory consultation. Get in touch with us by emailing hello@pointsevengroup.com.