Akerna Flash Report: Halloween Weekend Cannabis Sales Total $249.6 Million
Cannabis sales over Halloween weekend were 6% more than last year
DENVER, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Akerna (Nasdaq: KERN), a leading enterprise software company and the developer of one of the most comprehensive technology infrastructures, ecosystems, and compliance engines powering the global cannabis industry, today announced that US cannabis shoppers spent a total of $249.6 million on adult-use and medical cannabis products during this year's Halloween weekend, reflecting year-over-year growth in excess of 6%.
Halloween weekend has historically earned a place as one of the top ten cannabis sales days, and thus far, the Friday before Halloween remains in the running for one of the top ten days for 2022. This year-over-year growth in seasonal Halloween cannabis spending appears to correlate with an increase in other Halloween retail spending, as the National Retail Federation reported. As cannabis and traditional retailers begin to launch their holiday shopping season strategies, there is a widely documented optimistic forecast for consumer spending in the final quarter of 2022.
"We believe this strong Halloween weekend spend in cannabis is indicative of a strong holiday season to come, and we continue to urge operators and brands to focus on differentiating themselves and producing efficiently at scale," says Jessica Billingsley, CEO of Akerna. "The data tells an optimistic story of consumers reclaiming their time in a post-pandemic landscape and spending their dollars on cannabis experiences. Having a firm understanding of customer profiles and paying attention to price points will continue to be of key importance."
"Operators need to be prepared to meet the demand expected this holiday season by leveraging data tools available to them to ensure their inventory is fully stocked and they are appropriately staffed for peak days and times," says James Ahrendt, Business Intelligence Architect at Akerna. "Tools with a secure kiosk mode, such as MJ Retail, enable customers to place orders in the waiting room, resulting in a more streamlined customer experience – something that can become a key differentiator during the busy holiday season."
|Date||Sales||Weekend Sales to Date|
|Friday, October 28, 2022||$88.4 Million||$88.4 Million|
|Saturday, October 29, 2022||$64.4 Million||$152.8 Million|
|Sunday, October 30, 2022||$40.9 Million||$193.7 Million|
|Monday, October 31, 2022||$55.9 Million||$249.6 Million|
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 $30 billion in cannabis sales to date and is the first cannabis software company listed on Nasdaq. Using connected data and information to propel the cannabis industry forward, Akerna empowers businesses, governments, patients, and consumers to make smart decisions.
The Company's cornerstone technology, MJ Platform, the world's leading infrastructure as a service platform, powers retailers, manufacturers, brands, distributors, and cultivators. Akerna also offers a complete suite of professional consulting services and data analytics for businesses as well as solo sciences, Leaf Data Systems, Trellis, Ample Organics, Viridian Sciences and 365 Cannabis.
For more information, visit https://www.akerna.com/.
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Released November 3, 2022