Legal cannabis sales are predicted to increase starting Friday, April 16th, with $95,000,000 predicted for the new largest sales day this year, Tuesday, April 20th.
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 Tuesday, April 20th, a widely-popular yet unofficial “holiday” celebrating cannabis consumption, will gross $95,000,000 in legal cannabis retail sales nationally, with the following predictions for the day:
Flower will be the most purchased product on 4/20, claiming 49% of all legal sales, up 4% from the 2021 daily average.
Happy 420 from Akerna Top product: Flower will be the most purchased product on 4/20, claiming 49% of all legal sales, up 4% from the 2021 daily average. Order total: The average order total will be up about $10, with the average spend per customer coming in at $105.00, compared to the 2021 average of $93.48. Basket size: Customers will buy an average of 3.69 products, up 30% from the 2021 average basket size, 2.83 products.
“Elevated sales mean traffic will be at a high, making it critical for retailers to prepare their inventory, staff, and space for these upticks,” said James Ahrendt, Business Intelligence Architect at Akerna. “To help with preparations, we have created a guide for dispensaries on 4/20, complete with recommendations on how to create the most seamless and enjoyable customer experience.”
With 4/20 landing on a Tuesday this year, Akerna predictive data is showing that consumers planning to celebrate will shop ahead of the date, with the weekend ahead of 4/20 being the most significant weekend sales of the year and the 5-day period (4/16-4/20) sales totals exceeding $370,000,000 nationally, with the following predicted breakdown per day: