New reports from cannabis compliance software are projecting exciting numbers for pre-Christmas cannabis sales this year. According to Akerna, a seed-to-sale software company and the backers of MJ Platform, cannabis sales could increase within the next week.
“To determine how the Christmas and New Year’s holidays would affect cannabis sales nationally, we took a look at last year to see how sales have been influenced by these holidays,” explained James Ahrendt of Akerna in a press release. “For example, the Friday before Christmas was the second largest single sales day of 2019, while the seven-day period leading up to Christmas was 15 percent higher grossing than the weekly average of 2019.”
Overall, Akerna anticipates that average cannabis sales will increase as much as 15 percent, which could make as much as $400 million for the industry total. Sales from Friday, December 18, one week away from Christmas Day, are already clocking in at a 74 percent surge over last year’s sales.
After-Christmas numbers are also expected to reach new heights. With the prospect of celebrations at home, New Year’s Eve sales are expected to reach an increase of 68 percent over last year, $7 million higher than the average at the dawn of 2020. The average an adult consumer will spend on New Year’s is $79, and medical cannabis patients could spend as much as $121 each.
Overall, sales of seasonal projects are expected to make up 45 percent of sales, clocking in as the most-purchased product. Vape pens were next, at 31 percent, concentrates at 13 percent, edibles at nine percent and any other products at two percent.
Males are predicted to spend the most this holiday season, coming in at 64 percent of sales, with females at 36 percent. There was no data available for individuals who identify as nonbinary.
The under-30 crowd will be making 28 percent of purchases according to predictions, and 30-40 year-olds are topping the list at 30 percent. Those in the 40-50 age range will be making up 19 percent of purchases, with 50-60-year-olds projected to make up 13 percent of sales, and those over 69 making up 10 percent.
As cannabis sales trends continue to climb, despite the pandemic, during the holiday season, this is even more indication that the industry is going to see a continued rise in sales throughout 2021.