Akerna Flash Report: Halloween Weekend Cannabis Sales Total $249.6 Million

4.2 min readPublished On: November 4th, 2022By

DENVER – Akerna (Nasdaq: KERN), an enterprise software company and the developer of one of the comprehensive technology infrastructures, ecosystems, and compliance engines powering the global cannabis industry, announced that US cannabis shoppers spent a total of $249.6 million on adult-use and medical cannabis products during this year’s Halloween weekend, reflecting year-over-year growth in excess of 6%.

Halloween weekend has historically earned a place as one of the top ten cannabis sales days, and thus far, the Friday before Halloween remains in the running for one of the top ten days for 2022. This year-over-year growth in seasonal Halloween cannabis spending appears to correlate with an increase in other Halloween retail spending, as the National Retail Federation reported. As cannabis and traditional retailers begin to launch their holiday shopping season strategies, there is a widely documented optimistic forecast for consumer spending in the final quarter of 2022.

“We believe this strong Halloween weekend spend in cannabis is indicative of a strong holiday season to come, and we continue to urge operators and brands to focus on differentiating themselves and producing efficiently at scale,” says Jessica Billingsley, CEO of Akerna. “The data tells an optimistic story of consumers reclaiming their time in a post-pandemic landscape and spending their dollars on cannabis experiences. Having a firm understanding of customer profiles and paying attention to price points will continue to be of key importance.”

“Operators need to be prepared to meet the demand expected this holiday season by leveraging data tools available to them to ensure their inventory is fully stocked and they are appropriately staffed for peak days and times,” says James Ahrendt, Business Intelligence Architect at Akerna. “Tools with a secure kiosk mode, such as MJ Retail, enable customers to place orders in the waiting room, resulting in a more streamlined customer experience – something that can become a key differentiator during the busy holiday season.”

Date Sales Weekend Sales to Date
Friday, October 28, 2022 $88.4 Million $88.4 Million
Saturday, October 29, 2022 $64.4 Million $152.8 Million
Sunday, October 30, 2022 $40.9 Million $193.7 Million
Monday, October 31, 2022 $55.9 Million $249.6 Million

 

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

About the Author: News Team

Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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