A Letter From us to You!
This month, 1922 hit an incredible milestone, celebrating our second anniversary. Our team took a look back at the successes that brought us to this point, something that would have been impossible without the support of our community and the larger cannabis industry. As we reflect on the last two years, there are a few data points that really help tell the story– we’re always invested in knowing our numbers, as that’s the best way to grow and improve.
Our customers turned 1922 from a concept to a successful retail location with $2+M in revenue. With over 45K transactions and 65k units sold, our average blended transaction was $44.
We, like everyone else, got hit with COVID lockdowns and pivots. But we saw it as an opportunity to reexamine our business model. We launched delivery, a decision that gave us $71.1k in revenue. We dedicated resourcing to optimize e-commerce, allowing us to hit nearly 13k orders easily. Online basket sizes were larger, with an average of $52.50 in spend, translating into over $672k in revenue– a cool 28% of our total sales.
The 1922 e-commerce revenue was supported by a massive overhaul of our online presence, resulting in over 24k website views with a 53% conversion rate. We are so amazed at how many people seek 1922, with 1.9M Google Maps queries. We launched a newsletter that handily surpasses industry open rates, growing our digital audience despite four Instagram account shut downs, proving that while cannabis grows, social media is still trying to figure us out.
It was important for us to really dig deep within the industry– part of why we lift the curtain and share all of these key metrics. We share our insights to make an impact, serving as board members for OCS, while also engaging with partners in collaboration, like our summer capsule collection with Ace Valley. Our co-branded merch was a staple, with 100% of the proceeds going to Cannabis Amnesty.
Above all, we’re so encouraged by the continual support and recognition. In our first two years of operations, we never dreamed of earning industry awards, specifically, ADCANN’s 2020 Storefront Brand of the Year as well as Global Health and Pharma’s 2021 Most Trusted Dispensary for Toronto. To us, these are awards for the entire community that supports us, because without the continued support in our dream and vision, 1922 would still be just a dream.