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23. December 2020
CBD Hemp Market Data Market Watch News North America

U.S. Pre-Christmas Cannabinoid Sales Expected to Top $400m

Akerna, a software company specialising in the cannabis industry, has released data that suggests pre-Christmas sales of cannabis, CBD, and other cannabinoid products could spike this holiday season – topping $400 million.

U.S. Pre-Christmas Cannabinoid Sales Expected to Top $400m

Image | Unsplash.com

Akerna anticipates that in the week leading up to the start of the Christmas holiday, weekly average cannabinoid sales will increase 15%, generating $400 million.

The Friday preceding Christmas will most likely be the largest sales day of the month, experiencing a 74% surge in sales. New Year’s Eve is expected to experience a 68% increase in sales, generating $81 million. The average order total is predicted to be $7 higher than the 2020 average, with adult-consumers spending $79 and medical patients spending $121.

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,” explains James Ahrendt. “For example, the Friday before Christmas was the second largest single sales day of 2019, while the 7-day period leading up to Christmas was 15% higher grossing than the weekly average of 2019.

Akerna’s software powers many parts of the cannabis, hemp, and CBD industry. The Company’s MJ Platform, a service platform that provides retailers, manufacturers, brands, distributors, and cultivators with compliance technology, from seed-to-sale-to-self.

Other insights

Other data released by Akerna includes insight into the demographics of cannabinoid sales expected during the Christmas period:

Sales by product type:

  • Flower – 45%
  • Cartridge/Pens – 31%
  • Concentrates – 13%
  • Infused Edibles – 9%
  • Other – 2%

Sales by gender:

  • Male – 64%
  • Female – 36%

Sales by age:

  • Under 30 – 28%
  • 30-40 –30%
  • 40-50 – 19%
  • 50-60 –13%
  • Over 60 – 10%