Akerna Flash Report: Labor Day weekend expected to bring in over $240 million in national retail cannabis sales

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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 the upcoming Labor Day weekend, September 3 – September 6, will bring in over $240,000,000 in legal national cannabis sales. 

Friday, September 3, will be the largest sales day of the weekend, with a predicted $90,000,000 in sales, up 62% from daily average sales. This would be the second-highest sales day of 2021, falling after 4/20, the unofficial cannabis consumption holiday.

"When holidays fall on weekends, the Friday of that weekend sees the largest spikes in spending, which has held up for Valentine's Day, Memorial Day, and the Fourth of July this year," said James Ahrendt, Business Intelligence Architect at Akerna. "With increases in spending comes increases in traffic, making it crucial for dispensaries to plan inventory and staffing ahead of the long weekend."

Saturday, September 4, is predicted to bring in another $69,000,000 in sales, while Sunday, September 5, should see approximately $39,000,000. Monday, September 6, Labor Day, is expected to bring in another $42,000,000.

Other predictions for the holiday weekend (9/03 - 9/06):

  1. Average order total
    1. About $9 more - up $112 from $102.48 (2021 average to date)
  2. Average basket size
    1. 3.7 products per purchase
  3. Category sales:
    1. Flower – 48%
    2. Cartridge/Pens – 32%
    3. Concentrates – 10%
    4. Infused Edibles – 9%
    5. Other – 1%
  4. Demographics:
    1. 62% male
    2. 38% female
  5. Sales by age groups: which was led by the 30-40-year-old age group
    1. Under 30 – 28%
    2. 30-40 –31%
    3. 40-50 – 20%
    4. 50-60 –12%
    5. Over 60 – 9%

 

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