DENVER, Jan. 8, 2021 /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®), reveals that
the Christmas and New Year's holidays marked the biggest cannabis
sales period of the year.
The Christmas holiday period (12/18-12/24) generated
$427 million. Traditionally, the
Friday preceding Christmas is the biggest sales day of the period.
However, this year the Wednesday before Christmas (12/23) saw the
most significant bump in sales with a 76% increase in daily sales.
Totaling $87.3 million, the Wednesday
before Christmas was the third-largest sales day of the year, only
slightly behind Green Wednesday with $87.4
million.
Previously projected to see depressed sales due to an
anticipated decrease in group gatherings and parties as the result
of COVID-19 restrictions, New Year's Eve exceeded all expectations.
The year-end holiday saw approximately $89.4
million in sales, easily surpassing Green Wednesday and
becoming the biggest cannabis sales day of the year.
"We were pleasantly surprised to see New Year's Eve outperform
Christmas," said James Ahrendt,
Business Intelligence, Akerna. "Overall, the last two weeks of the
year ended up being some of the most profitable weeks for retail
cannabis in 2020."
Additional Insights for the Holiday Period
(12/18-12/31)
Average Basket Size
- Adult-use – $72
- Medical – $124
Sales by Product Category
- Flower – 46%
- Cartridge/Pens – 32%
- Concentrates – 13%
- Infused Edibles – 7.5%
- Other – 1.5%
Sales by Gender
Sales by Age
- Under 30 – 28%
- 30-40 –30%
- 40-50 – 20%
- 50-60 –12%
- Over 60 – 10%
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. Sales
projections are based on market adjustment calculations and
represent the entire US market as an aggregate.
Reporting Data is obtained from operators using Akerna's MJ
Platform solutions. Akerna has one of the largest seed-to-sale
footprint in the cannabis industry, operating in 15 countries and
23 U.S. states, including: Pennsylvania, Oklahoma, Puerto
Rico, Arizona, California, Utah, Michigan, Colorado, Montana, Nevada, Maine, Vermont, New
Mexico, Missouri,
Texas, Ohio, Maryland, Washington
D.C., Kansas, Arkansas, New
York.
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/save-the-best-for-last-new-years-eve-marks-biggest-cannabis-sales-day-of-2020-301203268.html
SOURCE Akerna