DENVER, Dec. 22, 2021 /PRNewswire/ — Business intelligence from Akerna, a leading enterprise software company and the developer of the most comprehensive technology infrastructure, ecosystem, and compliance engine powering the global cannabis industry, predicts that shoppers will spend $373 million on cannabis products as they prepare for the Christmas and New Year’s holidays.
For pre-Christmas shopping, consumers are predicted to spend approximately $87 million on Thursday, December 23rd, and another $97 million on Christmas Eve, Friday, December 24th, totaling about $184 million for Christmas preparations. Christmas Eve is predicted to be one of the top five sales days of the year.
For pre-New Year’s shopping, Thursday, December 30th, is projected to gross $89 million. New Year’s Eve, Friday, December 31st, is predicted to bring in $100 million in cannabis sales, becoming the second-largest cannabis sales day of 2021 and bringing the total sales for the two days to $189 million. The largest day for cannabis sales in 2021 was 4/20, the unofficial cannabis consumption holiday.
“The days leading up to Christmas and New Year’s have historically been two of the top five cannabis sales days, and I expect to see this trend continue,” said James Ahrendt, Business Intelligence Architect at Akerna. “As holiday gift shopping continues to face supply chain and shipping issues, shopping at your local cannabis retailer is a terrific way to avoid slowdowns while supporting a local business.”
With both official holidays falling on Saturday, stores will likely be closed those days.
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, Trellis, Viridian Sciences, and 365 Cannabis.
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.
