DENVER, Dec. 2, 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
consumers spent approximately $238
million during the 2020 Thanksgiving weekend (11/25 –
11/28).
The average basket size for medical consumers was $122.64, representing a 5% increase over the
daily average. Adult-use consumers spent, on average, $78.14, which is an increase of approximately
12%.
Green Wednesday, the Wednesday preceding Thanksgiving, was the
single biggest sales day of 2020 with an 80% increase in daily
sales. This also marks the first time in four years that Green
Wednesday has beat out Black Friday, which also saw a 75% increase
in sales.
"Once again, Thanksgiving ranks in the top 5 cannabis sales days
of the year," said James Ahrendt,
Business Intelligence Architect, Akerna. "As we have noted
throughout the year, daily sales averages have increased over the
last year as a result of COVID. Since average days show such
notable year-over-year growth, the percentage of growth during the
holidays doesn't seem as large. However, this is because more
people, in general, are purchasing cannabis."
Additional Insights
Sales by Product Category
- Flower – 46.8%
- Cartridge/Pens – 30.2%
- Concentrates – 13.9%
- Infused Edibles – 7.4%
- Other – 1.7%
Sales by Age Group
- Under 30 – 29.2%
- 30-40 –30.6%
- 50 – 19.3%
- 50-60 –11.9%
- Over 60 – 9%
Sales by Gender
- Female – 36.7%
- Male – 63.3%
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 (Nasdaq: KERN) is an enterprise
software company focused on compliantly serving the cannabis, hemp,
and CBD industry. First launched in 2010, Akerna has tracked more
than $20 billion in cannabis sales to
date and is the first cannabis software company listed on Nasdaq.
The Company's cornerstone technology, MJ Platform, the world's
leading infrastructure as a service platform powers retailers,
manufacturers, brands, distributors, and cultivators.
For more information, visit
https://www.akerna.com/
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