Today it may be the day when marijuana officially loses it cool. April 20, 4/20, the once underground national holiday for dope smokers, appears to have sold out to The Man.
The origins of 4/20 are as controversial as the last package of gummy bears after a long smoking session. Some say there was once a "marijuana smoking" policy code – apparently untrue – and others claim that it was invented by high schools in the Navy, California, to meet at 4.20 pm to get high.
Whatever the Origin is great business for a fast growing industry ̵
This year's 4/20 falls on a Saturday, and is expected to be the largest sales day for legal marijuana, which exceeds a sales specification of 111% last year. Stoners will gather in Denver's Civic Center Park to celebrate, with clouds of marijuana smoke drifting over the crowds, some still in tie colors and preaching cosmic one-ness.
4/20 doesn't have a Hallmark card yet, but it can't be far away. Of hundreds of tie-in campaigns this year, Lift offers $ 4.20 on a single trip in Colorado and in selected cities in the US and Canada. The fast food chain Carl & # 39; s Jr uses a Denver outlet to test a hamburger added to CBD oil.
But that's a serious side to it. This year, ice cream manufacturer Ben & Jerry appeals to consumers to push lawmakers to extend earlier marijuana beliefs for anyone arrested for smoking candy. Given that arrests are four times more likely to affect African Americans, social justice implications are clear.
According to Kit Yarrow, a consumer psychologist at Golden Gate University, 4/20 is about to become a regular national holiday and it is largely a function of the thriving marijuana business. Arcview, a cannabis investment and market research firm, estimates that US sales of cannabis products jumped to $ 10.5 billion last year, a triple increase from 2017.
"It's still a celebration of marijuana, but the conversation has been expanded by brands that bind into the cannabis industry and for marketers to link to something that has a coolness to it, says Yarrow, the conversation she adds is increasingly focused on people wondering what role cannabis can play in their lives.
"Stoner dude mentality is still there, but there is another that is more focused on marijuana medical properties and growing in stature," Sa Yarrow.
The Marijuana business may soon be dwarfed by the market for CBD-using products. cannabis compound from the hemp plant which apparently has health benefits but does not get you high
CBD, which is not listed as a controlled substance, can now be found in candies, coffee and other foods, drinks and supplements, along with perfumes, lotions, creams and soap.
According to Louis Zerobnick, a veteran Colorado cannabis promoter, the CBD industry has the potential to become a much larger business than a THC based industry, the psychoactive ingredient in cannabis. As it is, he says that the marijuana industry has moved far beyond its hippie stoner roots and is increasingly dominated by large industry and large bank.
"Many of the old hippies are not going to do that in this new industry. Although they are responsible for it and did the activity to make it happen, you find that marijuana companies will bring in people like has worked in other government regulated industries, it is the level of professionalism that is now needed to make it a real business, Zerobnick says.
Zerobnick believes that 4/20 can one day exceed the size of other semifinish holidays, including Valentine's Day and Halloween. "It is a national, non-religious, non-racial holiday that celebrated the most by becoming tall," Zerobnick said, rejecting events planned in Florida, Chicago and the High Times & Cannabis Cup in California. people who use cannabis 4/20 are just as big as christmas. "
Meanwhile, Big Business is entering to demolish the original stoner's buzz, John Boehner, the permatan former Republican speaker for the house, is the director of one of America's largest cannabi business, Acreage Holdings. Coca-Cola has a joint venture with a cannabis company that can lead to Coke High. Big tobacco is waiting in the wings.
The 4/20 counter-pioneers who fought for legalization may well wonder if there is a high price for a legally high.
"We don't necessarily like it, but everyone knows it," says Zerobnick. At the same time, many old hippies won't do that, he says, "many can become billionaires when they are bought out and their tribes become commercial success."