Akerna Launches Loyalty Program Analytics to MJ Platform

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Hosts Webinar on July 31st to Showcase New Reports & Patient Insight Capabilities

DENVER, July 25, 2019 (GLOBE NEWSWIRE) -- Akerna Corp. (Nasdaq: KERN) announced today the rollout of new rewards analytics reporting functionality to its premier service offering, MJ Platform®—the leading seed-to-sale regulatory compliance technology. Reports will detail rewards by type, determine the breakdown of manual and system rewards, drill down into patient demographics, as well as report on individual patients and their reward activity.

Akerna will host a webinar on Wednesday, July 31, 2019, at 4PM MT, called “Retail Rewards and Reporting: Driving Sales and Beyond,” to discuss the new functionality and what can be learned from the reports. Visit http://bit.ly/rewardswebinar to learn more and RSVP.

“The integration of standard and proven business practices, like rewards programs, into an established compliance program for cannabis contributes to the further evolution and maturation of an emerging market,” stated Akerna Chief Executive Officer Jessica Billingsley. “The understandings about patients gained from reporting analytics contribute to more informed decision-making and greater abilities to meet patient needs.” 

The new Rewards Analytics Reporting functionality provides platform users visibility into loyalty programs, including reward points available by patient group, patient participation, earned/redeemed points, trends and patient demographics.

“By incorporating rewards reporting and analytics into daily workflow, users contribute to compliance through accurate accounting and reporting while also establishing a value-add practice for patients,” commented Billingsley.

In an initial review of MJ Platform’s rewards data, which includes information from 20 states, the District of Columbia and Puerto Rico, MJ Freeway was able to recognize the following trends:

  • Millennials, who have a combined $200B in annual consumer buying power1, lead in both earning and redeeming points.
  • Baby Boomers come in second in earning points, but trail both Millennials and Gen X’ers in redeeming points.
    • Having this key demographic engaged in the market is vital as Boomers control 70% of the country’s disposable income and spend $3.2 trillion a year across all markets.2
  • Accounting for only 21% of the population3, Gen X’ers trail Millennials and Baby Boomers in earning points, but redeem more points than their older counterparts.
  1. Brookings Institute
  2. US News & World Report
  3. US Census

About Akerna Corp.
Akerna is a regulatory compliance technology company in the cannabis space. The cornerstones of Akerna’s service offerings are MJ Platform® and Leaf Data Systems®, which are highly-versatile platforms that provide clients and government entities with a central data management system for tracking regulated cannabis products—from seed to product to shelf to customer—through the complete supply chain. Since establishment in 2010, the company has tracked more than $15 billion in cannabis sales. As part of its business strategy, Akerna intends to grow through targeted, strategic acquisitions that are complementary to its current business and organically by accelerating its product development efforts. Akerna is based in Denver.

Akerna Media Contact
Jon Goldberg / McKenna Miller
KCSA Strategic Communications
jgoldberg@kcsa.com / mmiller@kcsa.com
(212) 896-1282 / (347) 487-6197

Investor Contact
Phil Carlson / Scott Eckstein
KCSA Strategic Communications
pcarlson@kcsa.com / seckstein@kcsa.com
(212) 896-1233 / (212) 896-2100

Source: MJ Freeway

Released July 25, 2019