Did Your 4th of July Cookout Involve Cannabis?
Global regulatory compliance technology company Akerna predicted that Americans would spend more on cannabis than their cookouts this Independence Day. How much did you spend on cannabis this year?
According to Akerna, it expected the cannabis industry would experience an 87 percent increase in cannabis sales beyond the daily averages this holiday weekend. These numbers are impressive, showing the potential that cannabis could be more important than burgers and hotdogs this Independence Day.
“For the first time in the past five years, the 4th of July falls on a Saturday,” James Ahrendt, Akerna’s Business Intelligence Architect said. “We anticipate sales will start to increase Thursday, July 2, with an 80 percent increase over daily averages culminating in an 87 percent increase over daily sales over the holiday weekend.”
Akerna expected that Friday, July 3rd, would be the highest-grossing day for selling cannabis of 2020. These cannabis sales were even expected to surpass April 20, the unofficial cannabis consumption holiday for enthusiasts globally.
The National Retail Federation claims that more than 75 percent of consumers planned to celebrate Independence Day this weekend. They expected consumers would spend an average of $76 on these celebrations.
Akerna predicted that the average cannabis order total would be around $100. This is an increase of $11 more than the average of what’s spend on each order every other day this year.
Over this three day weekend, the cannabis sales made are expected to exceed $260 million. This is approximately $86 million per day.
Approximately 45 percent of the sales were expected to be cannabis flower, 35 percent composed of vape cartridges and pens, and the remaining 20 percent edibles and concentrates.
Have you been consuming cannabis with your BBQ this weekend?