Fourth of July Smashes Record Cannabis Sales, Meets Expectations

Expectations were high for booming Fourth of July cannabis sales over the holiday weekend, and the numbers don’t disappoint. Predictions that the industry appears to be recession-proof, even with a stagnant economy and rising prices, prove pretty much true as we move into summer.

According to a flash report released by cannabis software company Akerna, the Fourth of July weekend saw some of the highest sales of the year, totaling over $255 million. On Friday, July 1, sales topped $106 million, the second highest day of cannabis sales so far this year (the first being 420, of course).

Consistent numbers across the board

Sales were high all four days of the holiday weekend, with the exception of Monday, July 4, due to many retailers closing for the day. National sales hit more than $68 million on Saturday; $45 million on Sunday; and $35 million on Monday.

“Holiday after holiday, our data indicates Americans are choosing to celebrate with cannabis. As more markets legalize cannabis and more people gain access to the plant, we expect these year-over-year increases to continue,” James Ahrendt, Akerna’s business intelligence architect, said in a release.

Last year, sales on the Friday before the Fourth were big around the country; in California alone, it was the highest day of sales for the month of July. Also in 2021, national sales hit almost $90 million, showing a $19% increase for 2022.

 

Disclaimer: https://www.greenentrepreneur.com/article/430907

Posted by: Times Of Hemp , TOH , #TOH , #TimesOfHemp , https://www.timesofhemp.com

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