$240 Million Projected for the Labor Day Holiday Week-end!

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From our friends over at Akerna...

Friday, September 3rd, is expected to be the second-highest cannabis retail sales day in 2021, with a predicted $90 million in sales.

DENVER, Aug. 25, 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®), predicts that the upcoming Labor Day weekend, September 3 – September 6, will bring in over $240,000,000 in legal national cannabis sales. 

Friday, September 3, will be the largest sales day of the weekend, with a predicted $90,000,000 in sales, up 62% from daily average sales. This would be the second-highest sales day of 2021, falling after 4/20, the unofficial cannabis consumption holiday.

"When holidays fall on weekends, the Friday of that weekend sees the largest spikes in spending, which has held up for Valentine's Day, Memorial Day, and the Fourth of July this year," said James Ahrendt, Business Intelligence Architect at Akerna. "With increases in spending comes increases in traffic, making it crucial for dispensaries to plan inventory and staffing ahead of the long weekend."

Saturday, September 4, is predicted to bring in another $69,000,000 in sales, while Sunday, September 5, should see approximately $39,000,000. Monday, September 6, Labor Day, is expected to bring in another $42,000,000.

Other predictions for the holiday weekend (9/03 - 9/06):

Average order total
About $9 more - up $112 from $102.48 (2021 average to date)

Average basket size
3.7 products per purchase

Category sales:
Flower – 48%
Cartridge/Pens – 32%
Concentrates – 10%
Infused Edibles – 9%
Other – 1%

Demographics:
62% male
38% female

Sales by age groups: which was led by the 30-40-year-old age group
Under 30 – 28%
30-40 –31%
40-50 – 20%
50-60 –12%
Over 60 – 9%

[Dave_M]

One Member suggested that we have people list any purchases made during our 3-Day holiday weekend.

1. ) 1 chocolate bar, 3 pre-rolls.

Now, you...

Remember, the weekend projection this year is $240 M.

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Akerna Flash Report:

Friday of Labor Day weekend brought in $90.1 million in national retail cannabis sales, becoming the second-largest sales day of 2021

The whole holiday weekend brought in a total of $234.8 million in medical and adult-use cannabis sales
DENVER, Sept. 9, 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®), shows that Friday, September 3, was the second-largest grossing sales day of 2021, bringing in $90.1 million in national retail cannabis sales, falling only behind the top sales day of 2021, 420, the unofficial cannabis consumption holiday. The Friday before the 4th of July, July 2, was previously the second-highest sales day for the year.

The whole holiday weekend, September 3 – September 6, brought in a total of $234.8 million in sales. Saturday, September 4 brought in $63.8 million in sales, Sunday, September 5, grossed $42.1 million, and Monday, September 6, Labor Day, totaled $38.8 million.

"Our prediction report for the long weekend correctly forecasted that Friday would be the second-largest cannabis sales day to date in 2021. This further shows the trend that when holidays fall on weekends, the Friday of that weekend will have the largest spikes in spending," said James Ahrendt, Business Intelligence Architect at Akerna. "Dispensaries can leverage our prediction reports to prepare staff, inventory, and promotions to optimize the in-store experience and offer deals on the products consumers are seeking. By meeting the consumers' preferences, dispensaries will likely increase sales and create more loyal customers."

Other values for the holiday weekend (9/03 - 9/06):

Category sales:

Flower – 48.5%
Cartridge/Pens – 32%
Concentrates – 10%
Infused Edibles – 8%
Other – 1.5%

Demographics:

61.4% male sales
38.6% female sales

Sales by age groups: led by the 30-40-year-old age group

Under 30 – 29%
30-40 –30%
40-50 – 20%
50-60 –12%
Over 60 – 9%

Average order total

Medical – $116.44
Recreational – $78.19

Average basket size

Medical – 2.87 products
Recreational – 3.06 products