Labor Day Weekend Cannabis Sales Exceed A Quarter Billion
DENVER, Sept. 15, 2020 /PRNewswire/ -- Business intelligence from Akerna (Nasdaq: KERN), an enterprise software, leading compliance technology provider, and developer of the cannabis industry's first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®), finds that cannabis sales over the Labor Day weekend (September 4-7) exceeded a quarter billion dollars.
Representing a year-over-year increase of 23% and totaling $245 million, cannabis sales did not increase as much as in previous years. The figures include both medicinal and adult use sales. Individually, adult-use sales increased by 35% over the holiday weekend.
Friday (September 4) saw the biggest sales day, representing a year-over-year increase of 36%. Likewise, Saturday saw a 36% increase in sales, while Sunday saw the biggest uptick with a 43% increase. Labor Day itself, however, saw an 8% decrease in sales from the previous year.
Product Sales by Category for Fri-Mon
Order Sales by Age Group
"Though we saw a smaller increase in cannabis sales than in previous years, that was due in part to increased cannabis sales throughout the year," says Ryan Ballman, Business Intelligence Analyst. "Because of the COVID-19 outbreak, people are purchasing more cannabis than in previous years. Consequently, we do not see as significant a rise in holiday cannabis sales."
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**Data is derived from MJ Platform, the leading provider of cannabis compliance software for the marijuana industry. Reporting Data is obtained from operators using Akerna's MJ Platform solutions. Increases are relative to the prior period. Additional business intelligence data sources may include proprietary tools used by Akerna's family of companies.
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