Cannabis software firm Akerna Corp (NASDAQ: KERN) revealed on Friday that concentrates sales jumped 50% during this year's “710 Day,” the unofficial holiday that focuses on the consumption of cannabis oil, including dabs and concentrates. 710 upside, by the way, spells OIL, hence the date for the “holiday.”
710's Top-Selling Concentrate Categories
On this year’s 710 the following concentrate categories saw the most sales:
710 Day Spending By Age
An interesting detail from the new report reveals changes in consumer behavior compared to this year’s averages. So far, in 2021, consumers aged 30-40 were the ones to lead in spending, while on 710 day, those under 30 bought the most.
In figures, the data looks like this:
Under 30 – 37%
40-50 – 16%
Over 60 – 5%
2021 Year To Date Female Product Spending Market Share
In the first half of the year, concentrates sales have surpassed edibles, due to the change in female product preferences. Nevertheless, cannabis flower remained the most popular. The list based on the female product spending market share looks like this:
Flower – 44%
Cartridges & Pens – 34%
Concentrates – 10.2%
Edibles – 8.9%
Other – 2.9%
"While 420 remains the top-grossing cannabis culture holiday, we've seen year-over-year increases in concentrate spending on 710," James Ahrendt, Akerna's business intelligence architect said. "What really caught my attention in this report was that for the first time, females are spending more on concentrates over edibles in 2021. Edibles have long been perceived as the easiest way to dose your marijuana, but as the stigma around use decreases and availability of cannabis increases, consumers are changing how they consume cannabis."
Akerna’s shares were trading 0.97% lower at $3.77 per share at the time of writing Friday morning.
Photo: Courtesy of Akerna
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