DENVER, Nov. 03, 2022 (GLOBE NEWSWIRE) — Akerna (Nasdaq: KERN), a leading enterprise software company and the developer of one of the most comprehensive technology infrastructures, ecosystems, and compliance engines powering the global cannabis industry, today announced that US cannabis shoppers spent a total of $249.6 million on adult-use and medical cannabis products during this year’s Halloween weekend, reflecting year-over-year growth in excess of 6%.
Halloween weekend has historically earned a place as one of the top ten cannabis sales days, and thus far, the Friday before Halloween remains in the running for one of the top ten days for 2022. This year-over-year growth in seasonal Halloween cannabis spending appears to correlate with an increase in other Halloween retail spending, as the National Retail Federation reported. As cannabis and traditional retailers begin to launch their holiday shopping season strategies, there is a widely documented optimistic forecast for consumer spending in the final quarter of 2022.
“We believe this strong Halloween weekend spend in cannabis is indicative of a strong holiday season to come, and we continue to urge operators and brands to focus on differentiating themselves and producing efficiently at scale,” says Jessica Billingsley, CEO of Akerna. “The data tells an optimistic story of consumers reclaiming their time in a post-pandemic landscape and spending their dollars on cannabis experiences. Having a firm understanding of customer profiles and paying attention to price points will continue to be of key importance.”
“Operators need to be prepared to meet the demand expected this holiday season by leveraging data tools available to them to ensure their inventory is fully stocked and they are appropriately staffed for peak days and times,” says James Ahrendt, Business Intelligence Architect at Akerna. “Tools with a secure kiosk mode, such as MJ Retail, enable customers to place orders in the waiting room, resulting in a more streamlined customer experience – something that can become a key differentiator during the busy holiday season.”
| Date | Sales | Weekend Sales to Date |
| Friday, October 28, 2022 | $88.4 Million | $88.4 Million |
| Saturday, October 29, 2022 | $64.4 Million | $152.8 Million |
| Sunday, October 30, 2022 | $40.9 Million | $193.7 Million |
| Monday, October 31, 2022 | $55.9 Million | $249.6 Million |
About Akerna:
Akerna (Nasdaq: KERN) is an enterprise software company focused on compliantly serving the cannabis, hemp, and CBD industry. First launched in 2010, Akerna has tracked more than $30 billion in cannabis sales to date and is the first cannabis software company listed on Nasdaq. Using connected data and information to propel the cannabis industry forward, Akerna empowers businesses, governments, patients, and consumers to make smart decisions.
The Company’s cornerstone technology, MJ Platform, the world’s leading infrastructure as a service platform, powers retailers, manufacturers, brands, distributors, and cultivators. Akerna also offers a complete suite of professional consulting services and data analytics for businesses as well as solo sciences, Leaf Data Systems, Trellis, Ample Organics, Viridian Sciences and 365 Cannabis.
For more information, visit https://www.akerna.com/.
Forward-Looking Statements
Certain statements made in this release and any accompanying statements by management are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking statements include but participation in the conference, Akerna’s future business plans, Akerna’s potential business strengths in the market and any other statements expressing the views of Akerna’s management on future business results or strategy. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of significant known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Akerna’s control, that could cause actual results or outcomes (including, without limitation, the results of Akerna’s contracts, strategic initiatives, and business plans as described herein) to differ materially from those discussed in the forward-looking statements. Important factors, among others that may affect actual results or outcomes, include (i) Akerna’s ability to recognize the anticipated benefits of being a public company, (ii) competition, (iii) Akerna’s ability to grow and manage growth profitably, (iv) Akerna’s ability to maintain relationships with customers and suppliers and retain its management and key employees, (v) costs related to being a public company, (vi) changes in applicable laws or regulations, (vii) Akerna’s ability to identify, complete and integrate acquisitions, including Viridian, and achieve expected synergies and operating efficiencies in connection with acquired businesses, (viii) and other risks and uncertainties disclosed from time to time in Akerna’s filings with the US Securities and Exchange Commission, including those under “Risk Factors” therein. Actual results, performance, or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those vary from forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial and other information, are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond Akerna’s control. All information herein speaks only as of the date hereof, in the case of information about Akerna, or the date of such information, in the case of information from persons other than Akerna. Akerna undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding Akerna’s industry and end markets are based on sources believed to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.
Media Contact:
Meghan Shine
pr@akerna.com
Source: Globenewswire