DENVER, April 13, 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®), predicts that
Tuesday, April 20th, a widely-popular
yet unofficial "holiday" celebrating cannabis consumption, will
gross $95,000,000 in legal cannabis
retail sales nationally, with the following predictions for the
day:
- Top product: Flower will be the most purchased product on 4/20,
claiming 49% of all legal sales, up 4% from the 2021 daily
average.
- Order total: The average order total will be up about
$10, with the average spend per
customer coming in at $105.00,
compared to the 2021 average of $93.48.
- Basket size: Customers will buy an average of 3.69 products, up
30% from the 2021 average basket size, 2.83 products.
Flower will be the most purchased product on 4/20, claiming 49% of
all legal sales, up 4% from the 2021 daily average.
"Elevated sales mean traffic will be at a high, making it
critical for retailers to prepare their inventory, staff, and space
for these upticks," said James
Ahrendt, Business Intelligence Architect at Akerna. "To help
with preparations, we have created a guide for dispensaries on
4/20, complete with recommendations on how to create the most
seamless and enjoyable customer experience."
With 4/20 landing on a Tuesday this year, Akerna predictive data
is showing that consumers planning to celebrate will shop ahead of
the date, with the weekend ahead of 4/20 being the most significant
weekend sales of the year and the 5-day period (4/16-4/20) sales
totals exceeding $370,000,000
nationally, with the following predicted breakdown per day:
- Friday, 4/16: There will be a 50% growth in daily average
sales, the second largest sales day for the period with a predicted
total industry sales figure of $85,000,000. Fridays are typically the highest
traffic days for cannabis retailers.
- Saturday, 4/17: This will be another busy sales day in
preparation for the holiday, with predicted sales reaching
$78,000,000.
- Sunday, 4/18: Anticipated to be the slowest day, but still
elevated for Sundays, with a predicted spend of $50,000,000. Historically, Sundays are the lowest
cannabis sales days.
- Monday, 4/19: Sales will pick back up from the slower Sunday,
totaling $65,000,000.
Other predictions for the "holiday" period (4/16 - 4/20):
- Category sales:
-
- Flower – 49%
- Cartridge/Pens – 31%
- Concentrates – 11%
- Infused Edibles – 8%
- Other – 1%
- Sales percentage by Demographics:
-
- Gender
-
- 62% male
- 38% female sales
- Age
-
- Under 30 – 29%
- 30-40 –31%
- 40-50 – 20%
- 50-60 –12%
- Over 60 – 8%
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
footprints 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 terms 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