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Monday, May 20, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Cannabis

Halloween weekend pot sales in the U.S. increase by 6% this year: Akerna

As people carved pumpkins and stocked up on candy last weekend, Americans spent nearly US$250 million on cannabis

Halloween weekend pot sales in the U.S. increase by 6% this year: Akerna
Photo by Toni Cuenca via Pexels.

People in the United States spent even more money on pot this Halloween weekend than last year, according to Akerna (Nasdaq: KERN) — an enterprise software company concerned with the cannabis industry.

On Wednesday, the organization revealed that U.S. cannabis shoppers spent US$249.6 million on bud, edibles, pre-rolls and other merchandise — up 6 per cent from 2021.

Akerna says that October 31 has historically been one of the top 10 days for cannabis sales in the U.S. and that the Friday prior to Halloween has stayed in the running for one of the 10 highest-grossing days this year.

Read more: American financial analysts report high cannabis sales over 4th of July weekend

Read more: Terpenes and cannabinoids more efficient as anti-inflammatories than NSAIDs: Gb Sciences study

Akerna also says that the annual spike in cannabis revenue can be linked to an overall increase in other festive retail spending over the weekend, such as costumes, candy, decorations and other items — according to a report from the National Retail Federation.

“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,” said Jessica Billingsley, CEO of Akerna.

Photo via Akerna.

Akerna was the first cannabis software company listed on the Nasdaq exchange. Since 2010, the company claims to have tracked over US$30 billion in cannabis sales.

 

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