DENVER, Sept. 15, 2020 /PRNewswire/ -- Business
intelligence from Akerna (Nasdaq: KERN), an enterprise software,
leading compliance technology provider, and developer of the
cannabis industry's first seed-to-sale enterprise resource planning
(ERP) software technology (MJ Platform®), finds that cannabis sales
over the Labor Day weekend (September
4-7) exceeded a quarter billion dollars.
Representing a year-over-year increase of 23% and totaling
$245 million, cannabis sales did not
increase as much as in previous years. The figures include both
medicinal and adult use sales. Individually, adult-use sales
increased by 35% over the holiday weekend.
Friday (September 4) saw the
biggest sales day, representing a year-over-year increase of 36%.
Likewise, Saturday saw a 36% increase in sales, while Sunday saw
the biggest uptick with a 43% increase. Labor Day itself, however,
saw an 8% decrease in sales from the previous year.
Additional Insights:
Product Sales by Category for Fri-Mon
- Flower – 47.4%
- Cartridges/Pens – 29.6% (down 2%)
- Concentrates – 12.9% (up 2%)
- Infused Edibles – 8.3%
- Other – 1.8%
Order Sales by Age Group
- Under 30 – 30% (up 3%)
- 30 to 40 – 30%
- 40 to 50 – 19%
- 50 to 60 – 12%
- 60+ – 9% (down 2%)
"Though we saw a smaller increase in cannabis sales than in
previous years, that was due in part to increased cannabis sales
throughout the year," says Ryan
Ballman, Business Intelligence Analyst. "Because of the
COVID-19 outbreak, people are purchasing more cannabis than in
previous years. Consequently, we do not see as significant a rise
in holiday cannabis sales."
About MJ Freeway:
MJ Freeway is more than software as a service. Its flagship
solution, MJ Platform, includes Platform Insights. Now operators,
investors, and regulators can access the industry's largest and
most statistically relevant database to drive data-driven business
decisions.
Platform Insights provides:
- The greatest statistical relevance across countries
- Normalized data (not farmed from various disparate POS
platforms)
- Full cannabis supply chain data
- Business insights founded in category management
methodology
Platform Insights can eliminate the guesswork and provide
answers to questions like:
- What is the gross margin return on inventory?
- What SKUs should be carried?
- How do basket adjacencies influence discounting and retention
strategies?
- What does a medical market look like a year or five years after
decriminalizing cannabis?
Click here for more information about MJ
Platform.
About Akerna:
Akerna is a global regulatory
compliance technology company. Akerna's service offerings include
MJ Platform®, Leaf Data Systems®, solo sciences tech platform and
Ample Organics. Since its establishment in 2010, Akerna has tracked
more than $18 billion in cannabis sales. Akerna is based
in Denver. For more information, please
visit www.akerna.com and follow us on Twitter
@AkernaCorp.
About the Akerna Flash Report:
Flash Report is a look
at buying trends in the cannabis market as captured by Akerna's MJ
Freeway subsidiary. MJ Freeway provides operators with MJ Platform,
the industry-leading solution for regulatory compliance technology,
from seed-to-sale-to-self. Some instances of the flash report may
include business intelligence derived from Akerna's family of
companies, including Ample Organics, Leaf Data Systems, solo
sciences, and Trellis.
**Data is derived from MJ Platform, the leading provider of
cannabis compliance software for the marijuana industry. Reporting
Data is obtained from operators using Akerna's MJ Platform
solutions. Increases are relative to the prior period. Additional
business intelligence data sources may include proprietary tools
used by Akerna's family of companies.
Forward-Looking Statements:
Certain statements made
in this release are "forward-looking statements" within the meaning
of the "safe harbor" provisions of the United States Private
Securities Litigation Reform Act of 1995. When used in this press
release, the words "estimates," "projected," "expects,"
"anticipates," "forecasts," "plans," "intends," "believes,"
"seeks," "may," "will," "should," "future," "propose" and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. Such forward-looking statements include
but are not limited to statements regarding the ability of the MJ
Platform team to help operators make decisions through analytics
and reporting. These forward-looking statements are not guarantees
of future performance, conditions or results, and involve a number
of significant known and unknown risks, uncertainties, assumptions,
and other important factors, many of which are outside Akerna's
control, that could cause actual results or outcomes to differ
materially from those discussed in the forward-looking statements.
Important factors, among others that may affect actual results or
outcomes, include (i) Akerna's ability to maintain relationships
with customers and suppliers and retain its management and key
employees, (ii) changes in applicable laws or regulations, (iii)
changes in the market place due to the coronavirus pandemic or
other market factors, (iv) and other risks and uncertainties
disclosed from time to time in Akerna's filings with the U.S.
Securities and Exchange Commission, including those under "Risk
Factors" therein. You are cautioned not to place undue
reliance on forward-looking statements. All information herein
speaks only as of the date hereof, in the case of information about
Akerna, or the date of such information, in the case of information
from persons other than Akerna. Akerna undertakes no duty to update
or revise the information contained herein. Forecasts and estimates
regarding Akerna's industry and end markets are based on sources
believed to be reliable; however, there can be no assurance these
forecasts and estimates will prove accurate in whole or in
part.
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SOURCE Akerna