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8. March 2021
Corporate News Market Data Market Watch News North America

Cannabis – Data Shows Americans are Spending 25% More Amid the Covid-19 Pandemic

Cannabis enterprise software provider Akerna (Nasdaq: KERN), has realised data that shows that one year into the Covid-19 pandemic North American cannabis shoppers and patients are spending about 25-30% more per purchase and are increasingly purchasing more volume of products per visit.

Cannabis - Data Shows Americans are Spending 25% More Amid the Covid-19 Pandemic

(PRNewsfoto-Akerna)

Over the past year (2020-2021), the average recreational cannabis purchase was $60 – climbing up from $48 in the previous year (2019-2020), with consumers’ basket size growing from an average of 2.25 products to 2.6. For medical purchasing, the average sale size is up to $123 per purchase, up from $100 in the previous year, and basket volume grew from 2.9 items to 3.02.

This past year was a booming one for cannabis, even amid the economic crisis caused by the Covid-19 pandemic. The biggest change we see in our data is that patients are buying more products per visit, and it’s important for cannabis businesses to take these changes into mind when marketing their products,” said James Ahrendt, Business Intelligence Architect at Akerna. “With flower continuing to be the go-to product, brands should focus on differentiating their flower from the competition as well as education and benefits around other product categories.”

Akerna is an enterprise software company focused on compliantly serving the cannabis, hemp, and CBD industry. First launched in 2010, the company has tracked more than $20 billion in cannabis sales to date.

The Akerna Flash Report looks at buying trends in the cannabis market as captured by Akerna’s MJ Freeway subsidiary. MJ Freeway provides cannabis operators with MJ Platform, the industry-leading solution for regulatory compliance technology, from seed-to-sale-to-self.

Insights from the Report

Average Order Sale (ticket):

  • Male (Rec) – $59.02
  • Male (Med) – $121.06
  • Female (Rec) – $64.50
  • Female (Med) – $125.22

Average basket size:

  • Male (Rec) – 2.48 items
  • Male (Med) – 2.93 items
  • Female (Rec) – 2.76 items
  • Female (Med) – 3.10 items

Gender Sales Market Share

  • Rec – Male 67% / Female 33%
  • Med – Male 61% / Female 39%

Age Group Sales Market Share:

  • Under 30 – 27%
  • 30 – 40 – 29%
  • 40 – 50 – 19%
  • 50 – 60 – 13%
  • 60+ – 12%

Category Sales Market Share:

  • Flower – 43%
  • Cartridges / Pens – 35%
  • Infused Edible – 8%
  • Concentrate – 12%
  • Non-Medicated – 1%
  • Infused Non-edible – 1%

 

Reporting Data is obtained from operators using Akerna’s MJ Platform solutions. Akerna has one of the largest seed-to-sale footprints in the cannabis industry, operating in 15 countries and 23 U.S. states, including Pennsylvania, Oklahoma, Puerto Rico, Arizona, California, Utah, Michigan, Colorado, Montana, Nevada, Maine, Vermont, New Mexico, Missouri, Texas, Ohio, Maryland, Washington D.C., Kansas, Arkansas, New York.

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