Akerna Released Estimates on Cannabis Sales Surges During the Holiday | TRICHOMES Morning Buzz
Cannabis News Update December 24, 2020
Today in the world of cannabis: Cresco Labs takes home three awards at the second annual Clio Cannabis Awards, MJardin begins shipping products to the Ontario Cannabis Store, and Akerna released estimates on cannabis sales surges during the December holiday season.
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** First up: In a report by Business Wire, the major cannabis producer Cresco Labs has announced that the company received three awards at the 2020 Clio Cannabis Awards, a premier international cannabis awards competition and the second annual awards ceremony of its kind in Clio, Michigan.
Cresco Labs won two bronze trophies, one for the company’s “CLOSED FOR CHANGE” Juneteenth initiative in the Print & Out of Home Craft category and the other for its “Lefty Left Coast Launch” brand Los Angeles campaign in the Print & Out of Home category. Cresco Labs’ Good News brand won in the Brand Identity category.
“To receive a Clio Award in any industry is one of the highest creative honors that you can hope to achieve,” said Greg Butler, Chief Commercial Officer at Cresco Labs. “To have the privilege to be recognized three times in three different categories is a testament to the smart and talented marketing and creative team that I am lucky enough to work with every day…”
** And next: Globe Newswire reports that the Canadian cannabis company MJardin has announced the first shipments of its dried cannabis flower products to the Ontario Cannabis Store (OCS), with shipments to begin shortly to other provinces.
“This is a significant milestone for MJardin as we ramp up our capacity to serve Canadian markets and generate revenue from our brands and partnerships through the end of 2020, and vigorously into 2021,” said MJardin CEO Pat Witcher. “We are strong in our belief that our new state-of-the-art cultivation and processing facilities are important differentiators, which will enable us to increase margins and reduce costs in this growing market.”
“At MJardin, quality cannabis is at the core of what we do which is why this partnership is such a good fit for us,” said Eric Gattoni, SVP Business Development. “This launch, with the upcoming launch of our very own Flint & Embers retail brand, has given us a lot to be excited about.”
** Last up: In a report by PRNewswire, the cannabis data platform Akerna has released estimates on cannabis sales spikes during Christmas and the December holiday season.
“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 of Akerna. “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 projects that the week leading up to the beginning of the Christmas holiday, from December 18-24, weekly average cannabis sales will reach $400 million, an increase of 15%. The Friday preceding Christmas alone saw a 74% surge in cannabis sales. Overall, flower remains the most popular product for consumers, making up 45% of total sales.
https://www.prnewswire.com/news-releases/pre-christmas-cannabis-sales-expected-to-hit-400-million-new-years-sales-to-top-81-million-301197306.html
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