The Wholesale Run-Up to 4/20: What LeafLink Data Shows
Every year, April 20 is the biggest consumer holiday in cannabis. But the surge in activity doesn’t start at the retail counter, it begins earlier in the supply chain.
Wholesale data from the LeafLink platform suggests a clear pattern: retailers begin ramping up orders in the weeks leading up to 4/20 as they prepare for higher demand.
Looking at three years of platform data, the same trend appears each spring. Wholesale ordering gradually increases throughout March before peaking roughly one to two weeks ahead of the holiday.
2025: Wholesale Activity Peaks in Early April
Wholesale GMV climbed from $116.9 million during the week of March 3 to a peak of $137.2 million during the week of April 7, the highest weekly total during the period analyzed.
In the following week, wholesale activity fell sharply as retailers shifted from building inventory to selling through it ahead of the holiday.
GMV declined to $96.4 million during the week of April 14, showing how quickly wholesale ordering slows once retailers have already secured their inventory.
2024 Shows the Same Pre-Holiday Pattern
The same pattern appears in 2024.
Wholesale GMV gradually increased throughout March and reached a peak during the week of April 8 at $125.9 million.
As in 2025, activity declined sharply the following week, falling to $89.7 million as retailers shifted from building inventory to selling through it during the 4/20 period.
2023: Early April Peak Before 4/20
The 2023 data shows a similar trend.
Wholesale GMV reached its highest level of the season during the week of April 3 at $112.9 million, after steady growth throughout March.
By the week of April 17, wholesale activity fell to $85.8 million, reinforcing the pattern of declining wholesale orders as the holiday approaches.
Category Trends Ahead of 4/20
While overall wholesale activity rises ahead of the holiday, some product categories see stronger seasonal lifts than others.
Category-level data shows that cartridges experienced the largest lift during the 2025 run-up to 4/20, rising roughly 9.4% week-over-week. A similar 10.6% increase occurred in 2023, suggesting vape products often see strong seasonal demand ahead of the holiday.
In 2024, however, pre-rolls experienced the largest category increase, highlighting how product mix and consumer preferences can shift from year to year as retailers prepare their shelves for the industry’s biggest sales event.
Why Wholesale Spikes Before 4/20
Unlike consumer sales, wholesale purchasing happens before demand shows up at retail.
To prepare for the industry’s biggest sales event, dispensaries typically increase orders in late March and early April to ensure shelves are fully stocked.
This creates a predictable supply chain cycle:
- Inventory builds throughout March
- Peak wholesale ordering occurs 1–2 weeks before 4/20
- Wholesale activity declines as retailers shift their focus to selling existing inventory
Across multiple years of LeafLink platform data, the same pattern emerges each year.
What This Means for Cannabis Operators
Understanding the timing of wholesale demand can help operators better plan for seasonal retail spikes.
Brands and distributors should anticipate higher order volumes in late March and early April as retailers build inventory.
Retailers can benefit from placing orders earlier in the season to ensure product availability during the holiday rush.
As the cannabis industry continues to mature, insights from LeafLink’s wholesale platform data can help operators better anticipate seasonal demand and optimize inventory planning.
Data Notes
Analysis based on aggregate wholesale GMV from the LeafLink platform from January through April for 2023, 2024, and 2025. (Source)