San Francisco, CA--Treez, an enterprise cloud commerce platform that powers retail and supply chain operations for the cannabis market, announced in a press release that its retail customers reported strong growth in sales and other key business performance metrics during the 4/20 holiday last week.
During 4/20, aggregate sales grew 25 percent, the total number of transactions rose 36 percent and the total number of customers purchasing cannabis at a Treez retailer increased 34 percent compared to the year prior. TreezPay, the first fully-integrated cannabis payment processing solution to offer three cashless payment options for retail dispensaries, recorded soaring sales increases of 181 percent, with a 206 percent upsurge in the total number of cashless transactions during that period. Notably, the average order value on TreezPay was $24 higher than a cash transaction. The rise of cashless payments sales reflects the key business benefits delivered by TreezPay in terms of upselling opportunities, overhead cost reductions, consumer convenience, and mitigated risk associated with theft.
More in the entire press release.