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Consumers spent more on cannabis than Halloween costumes and candy

Cannabis in front of a pumpkin

Business intelligence from Akerna (Nasdaq: KERN), a leading enterprise software company and the developer of the most comprehensive technology infrastructure, ecosystem, and compliance gateway powering the global cannabis industry, shows that over Halloween weekend adult-use cannabis consumers spent an average of $77.17 per person on cannabis products. According to the National Retail Federation (NRF), the average American spent about $30.40 on Halloween candy and $33.59 on costumes this year, totaling $63.99.

Halloween weekend (10/29-10/31) brought in a total of $182.7 million in total adult-use and medical sales, an 8.2% growth for the holiday weekend year over year.

Friday, October 29th, was the largest day in sales volume with a total of $81.5 million in consumer spending, becoming the ninth largest sales day for the industry so far in 2021.

“Once again, our data shows that when holidays fall on a weekend, dispensaries and retailers will receive the highest numbers of sales and traffic the Friday of that weekend,” said James Ahrendt, Business Intelligence Architect at Akerna. “From the year over year increases in spending to the costume and candy comparison, it’s clear that Americans are choosing to celebrate holidays with cannabis.”

Saturday, October 30th brought in $62.2 million in sales, and Sunday, October 31st brought in $39 million.

Other values for the holiday weekend (10/29 – 10/31):

1. Category sales:

a. Flower – 48%
b. Cartridge/Pens – 32.5%
c. Concentrates – 10%
d. Infused Edibles – 8%
e. Other – 1.5%

2. Demographics:

a. 62% male
b. 38% female

3. Sales by age group:

f. Under 30 – 28%
g. 30-40 –31%
h. 40-50 – 20%
i. 50-60 –12%
j. Over 60 – 9%

4. Average order total

k. Medical – $118.16
l. Recreational – $77.17

5. Average basket size

m. Medical – 2.95 products
n. Adult-use – 3.05 products

 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 PennsylvaniaOklahomaPuerto RicoArizonaCaliforniaUtahMichiganColoradoMontanaNevadaMaineVermontNew MexicoMissouriTexasOhioMarylandWashington D.C.KansasArkansasNew York.

Increases are relative to the prior period. Additional business intelligence data sources may include proprietary tools used by Akerna’s family of companies.

SOURCE Akerna

https://www.Akerna.com

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