Cannabis Sales Expected To Hit $370M In 5 Days Leading Up To 420
Cannabis software firm Akerna Corp (NASDAQ:KERN) expects national cannabis retail sales to reach $95 million on 4/20, the unofficial marijuana holiday.
That is according to a new Flash Report out of the Denver-based company.
Akerna says the top-selling product category on Tuesday, April 20, will be flower, accounting for 49% of all legal sales. To put this into perspective: flower has claimed 45% of all legal cannabis sales daily in 2021.
Vape pens and cartridges will be the second most popular product among the customers on 4/20, the firm anticipates.
In addition, concentrates and infused edibles are expected to account for 11% and 8% of all cannabis sales, respectively.
The average order total will be roughly $10 higher than usual, with each customer spending $105 on average, versus the $93.48 2021 average.
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Furthermore, customers are poised to purchase an average of 3.69 products. The average basket in 2021 so far has carried 2.83 products.
According to the company's report, sales will be higher among male than female, while customers aged between 30 and 40 will be the most interested in purchasing cannabis products.
The report suggests that the five days ending April 20 are expected to yield $370 million in cannabis sales.
"Elevated sales mean traffic will be at a high, making it critical for retailers to prepare their inventory, staff, and space for these upticks," concluded James Ahrendt, business intelligence architect at Akerna.
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