DENVER, Feb. 18, 2021 /PRNewswire/ — 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®), finds that the cannabis consumer demographic continues to trend towards women. Data from the 2021 Valentine’s Day weekend (2/12-2/14) shows a 3% year over year shift towards female purchasers, with females making up over 38% of sales in 2021, growing from 35% in 2020.
Galentine’s Day Flowers: Women spent most of their cannabis dollars on flower over other product categories.
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Cannabis flower was a popular product for the 2021 Valentine’s Day weekend, accounting for 48% of all sales, with a 3% gain in average market share over the other categories (flower, cartridges, pens, concentrates, infused edibles). This rise was likely driven by the increase in female purchases of flower. In 2020, women spent 35% of their cannabis dollars on flower, but in 2021 that number has increased to 45%.
“Women continue to be the fastest-growing consumer segment in the cannabis industry and have traditionally driven most household purchases,” says James Ahrendt, BI Architect at Akerna. “This trend in consumer demographics is prompting the need for cannabis, CBD and hemp brands to gear their products and branding towards the female consumer.”
In total, Cannabis consumers spent approximately $170 million during the 2021 Valentine’s Day weekend (2/12-2/14), with Friday (2/12) sales taking 46% of that sum, a 1.46x increase of daily average sales, marking it the 3rd highest-grossing day of 2021.
Other takeaways from the holiday week (2/8 – 2/14):
Category sales: Flower – 48% Cartridge/Pens – 31% Concentrates – 12% Infused Edibles – 7.6% Other – 1.4% Sales by age