Pre-Christmas Cannabis Sales Expected to hit $400 Million, New Years Sales to Top $81 Million – GuruFocus.com

DENVER, Dec. 22, 2020 /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®), estimates cannabis sales to spike this holiday season.

“To determine how the Christmas and New Year’s holidays would affect cannabis sales nationally, we took a look at last year to see how sales have been influenced by these holidays,” explains James Ahrendt. “For example, the Friday before Christmas was the second largest single sales day of 2019, while the 7-day period leading up to Christmas was 15% higher grossing than the weekly average of 2019.”

Akerna anticipates that in the week leading up to the start of the Christmas holiday (12/18-12/24), weekly average cannabis sales will increase 15%, generating $400 million.

The Friday preceding Christmas (12/18) will most likely be the largest sales day of the month, experiencing a 74% surge in sales. New Year’s Eve is expected to experience a 68% increase in sales, generating $81 million. The average order total is predicted to be $7 higher than the 2020 average, with adult-consumers spending $79 and medical patients spending $121.

Additional Holiday Season Predictions

Sales by product type:

Flower – 45% Cartridge/Pens – 31% Concentrates – 13% Infused Edibles – 9% Other – 2%

Sales by gender

Male – 64% Female – 36%

Sales by age

Under 30 – 28% 30-40 –30% 40-50 – 19% 50-60 –13% Over 60 – 10%

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.

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