Business/Customer Intelligence & Data Science

Shoppers expected to spend $373 mn for Festive season

Christmas and New Year's Eve are projected to be in the top five sales days of the year, falling just behind 4/20, the unofficial cannabis consumption holiday
data science

Business intelligence from Akerna (Nasdaq: KERN), a leading enterprise software company and the developer of the most comprehensive technology infrastructure, ecosystem, and compliance engine powering the global cannabis industry, predicts that shoppers will spend $373 million on cannabis products as they prepare for the Christmas and New Year’s holidays.

For pre-Christmas shopping, consumers are predicted to spend approximately $87 million on Thursday, December 23rd, and another $97 million on Christmas Eve, Friday, December 24th, totaling about $184 million for Christmas preparations. Christmas Eve is predicted to be one of the top five sales days of the year.

For pre-New Year’s shopping, Thursday, December 30th, is projected to gross $89 million. New Year’s Eve, Friday, December 31st, is predicted to bring in $100 million in cannabis sales, becoming the second-largest cannabis sales day of 2021 and bringing the total sales for the two days to $189 million. The largest day for cannabis sales in 2021 was 4/20, the unofficial cannabis consumption holiday.

“The days leading up to Christmas and New Year’s have historically been two of the top five cannabis sales days, and I expect to see this trend continue,” said James Ahrendt, Business Intelligence Architect at Akerna. “As holiday gift shopping continues to face supply chain and shipping issues, shopping at your local cannabis retailer is a terrific way to avoid slowdowns while supporting a local business.”

With both official holidays falling on Saturday, stores will likely be closed those days.

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