Flash Report: Data Shows Women Continuing To Gain Market Share of Cannabis Sales

DENVER – Akerna (Nasdaq: KERN), an enterprise software company released a data report on women’s cannabis shopping habits as the demographic group continues to gain market share, up 3.3% since 2019.

When considering the millions of US cannabis consumers, these year over year shifts are quite sizable and could have a significant impact on future product development:

“Cannabis has plenty of stigmas and stereotypes, but the data doesn’t lie – it has a broad appeal to people of all ages, sexes, and socioeconomic statuses,” said Jessica Billingsley, Akerna Chief Executive Officer. “I expect to see more and more brands targeting their products and marketing towards women in the coming years. Otherwise, they will risk losing participation in this growing market to the competition who does.”

Regarding women’s current product preferences, flower and cartridges are top choices, with concentrates coming in third – a category that recently overtook edibles for the first time, which moved down to the fourth most popular category for women.

Data showed direct correlations between age and product sales. The youngest age groups of women are most likely to buy concentrates, with product share gradually declining as age goes up. On the contrary, the more mature groups spend the most significant amounts on infused edibles, a value which decreases gradually with each younger age group.

“Concentrates are perceived as an advanced cannabis consumption method, which could be why they appeal the most to younger populations which have grown up with the legalization of cannabis,” said James Ahrendt, Business Intelligence Architect at Akerna. “On the other hand, edibles provide a discreet form of cannabis consumption with easy dosing, which is likely why they appeal to more mature populations.”

Other values for women cannabis shoppers:

• Average products per order
  • Medical: 2.98 products
  • Adult-use: 3.12 products
• Average spent per order
  • Medical: $123.41
  • Adult-use: $76.80
• Sales by age groups:
  • Under 30 – 27.3%
  • 30-40 – 29.3%
  • 40-50 – 19.2%
  • 50-60 –13.6%
  • Over 60 – 10.6%

Forward-Looking Statements:

Certain statements made in this release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such terms or expressions) are intended to identify forward-looking statements. Such forward-looking statements include but are not limited to statements regarding the ability of the MJ Platform team to help operators make decisions through analytics and reporting. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of significant known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside Akerna’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others that may affect actual results or outcomes, include (i) Akerna’s ability to maintain relationships with customers and suppliers and retain its management and key employees, (ii) changes in applicable laws or regulations, (iii) changes in the market place due to the coronavirus pandemic or other market factors, (iv) and other risks and uncertainties disclosed from time to time in Akerna’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein. You are cautioned not to place undue reliance on forward-looking statements. All information herein speaks only as of the date hereof, in the case of information about Akerna, or the date of such information, in the case of information from persons other than Akerna. Akerna undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding Akerna’s industry and end markets are based on sources believed to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

(This information is primarily sourced from Akerna.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).