Akerna Flash Report: US shoppers expected to spend $373 million on cannabis in preparation for Christmas and New Year’s celebrations

2.9 min readPublished On: December 22nd, 2021By

DENVER – Business intelligence from Akerna (Nasdaq: KERN), an enterprise software company and the developer of comprehensive technology infrastructure, ecosystem, and compliance engine powering the global cannabis industry, predicts that shoppers will spend $373 million on cannabis products as they prepare for the Christmas and New Year’s holidays.

For pre-Christmas shopping, consumers are predicted to spend approximately $87 million on Thursday, December 23rd, and another $97 million on Christmas Eve, Friday, December 24th, totaling about $184 million for Christmas preparations. Christmas Eve is predicted to be one of the top five sales days of the year.

For pre-New Year’s shopping, Thursday, December 30th, is projected to gross $89 million. New Year’s Eve, Friday, December 31st, is predicted to bring in $100 million in cannabis sales, becoming the second-largest cannabis sales day of 2021 and bringing the total sales for the two days to $189 million. The largest day for cannabis sales in 2021 was 4/20, the unofficial cannabis consumption holiday.

“The days leading up to Christmas and New Year’s have historically been two of the top five cannabis sales days, and I expect to see this trend continue,” said James Ahrendt, Business Intelligence Architect at Akerna. “As holiday gift shopping continues to face supply chain and shipping issues, shopping at your local cannabis retailer is a terrific way to avoid slowdowns while supporting a local business.”

With both official holidays falling on Saturday, stores will likely be closed those days.

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).

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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