October Surprise: Intel From Akerna Reveals Unexpected Insights Into Cannabis Consumer Preferences
Akerna (Nasdaq: KERN) has released new business intelligence from its MJ Platform, revealing consumer preferences in cannabis strains for 2020. Indica-dominant strains topped sales at 37%, followed by Hybrid at 35%, and Sativa at 28%. First-time users prefer Hybrid strains (40%), while returning users favor Indica. Insights by gender show men prefer Indica (38%), while women lean towards Hybrid (37%). Age differences highlight that those under 30 prefer Hybrid, while older groups favor Indica. Market data from MJ Platform provides critical insights for operators and investors.
- Indica-dominant strains account for 37% of sales, indicating strong consumer preference.
- MJ Platform offers extensive data analysis capabilities for informed business decisions.
- Sativa strains dropped to only 28% of total sales, indicating a declining interest.
- Sativa-dominant products are only preferred in cartridges and pens, limiting their market scope.
DENVER, Oct. 6, 2020 /PRNewswire/ -- New Business intelligence from Akerna (Nasdaq: KERN), an enterprise software, leading compliance technology provider, and developer of the cannabis industry's first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®), reveals surprising new insights into consumer's preference of cannabis strains.
Looking at all cannabis sales made on the MJ Platform in 2020 so far, Akerna divided consumer strain preferences into three categories: Indica, Sativa, and Hybrid.
"Indica-dominant strains are typically thought of as providing a more "body" high and are more relaxing," explains James Ahrendt, Business Intelligence Architect, Akerna. "Sativa-dominant strains are more notably known to be more energizing and provide more of a 'head high'. Hybrids are a blend of both and are typically bred for desired cannabinoid profiles."
Overall, Indica-dominant strains are the most popular, accounting for
"Some of these stats made logical sense, while others were a surprise finding," added Ahrendt. "For example, Sativa as whole was
Additional Insights
Gender
- Indica-dominant strains are most popular with men, accounting for
38% of sales. - Women overall prefer hybrid strains, which account for
37% of sales.
Age
- Under 30 age group's largest sales share is for Hybrid-dominant products
- 30-40, 40-50, 50-60, 60+ age groups all prefer Indica-dominant products
- Though they overall prefer Indica-dominant strains, the 60+ age group has the largest share of sales for Sativa-dominant products
Product Categories
- Cartridges / Pens largest sales share belongs to Sativa-dominant products
52% of all Infused edible sales are Hybrid-dominant products- Indica-dominant products are the largest share of sales for Concentrates and Flower
About MJ Freeway
MJ Freeway is more than software as a service. Its flagship solution, MJ Platform, includes Platform Insights. Now operators, investors, and regulators can access the industry's largest and most statistically relevant database to drive data-driven business decisions.
Platform Insights provides:
- The greatest statistical relevance across countries
- Normalized data (not farmed from various disparate POS platforms)
- Full cannabis supply chain data
- Business insights founded in category management methodology
Platform Insights can eliminate the guesswork and provide answers to questions like:
- What is the gross margin return on inventory?
- What SKUs should be carried?
- How do basket adjacencies influence discounting and retention strategies?
- What does a medical market look like a year or five years after decriminalizing cannabis?
Click here for more information about MJ Platform.
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
For more information, visit https://www.akerna.com/
About the Akerna Flash Report:
Flash Report is a look at buying trends in the cannabis market as captured by Akerna's MJ Freeway subsidiary. MJ Freeway provides operators with MJ Platform, the industry-leading solution for regulatory compliance technology, from seed-to-sale-to-self. Some instances of the flash report may include business intelligence derived from Akerna's family of companies, including Ample Organics, Leaf Data Systems, solo sciences, and Trellis.
**Data is derived from MJ Platform, the leading provider of cannabis compliance software for the marijuana industry. Reporting Data is obtained from operators using Akerna's MJ Platform solutions. Increases are relative to the prior period. Additional business intelligence data sources may include proprietary tools used by Akerna's family of companies.
Forward-Looking Statements:
Certain statements made in this release 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 are not limited to statements regarding the ability of the MJ Platform team to help operators make decisions through analytics and reporting. 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 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 maintain relationships with customers and suppliers and retain its management and key employees, (ii) changes in applicable laws or regulations, (iii) changes in the market place due to the coronavirus pandemic or other market factors, (iv) and other risks and uncertainties disclosed from time to time in Akerna's filings with the U.S. Securities and Exchange Commission, including those under "Risk Factors" therein. You are cautioned not to place undue reliance on forward-looking statements. 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.
View original content to download multimedia:http://www.prnewswire.com/news-releases/october-surprise-intel-from-akerna-reveals-unexpected-insights-into-cannabis-consumer-preferences-301147201.html
SOURCE Akerna
FAQ
What consumer preferences did Akerna report regarding cannabis strains?
What insights did Akerna provide about first-time cannabis users?
How does consumer preference vary by gender according to Akerna?
What age group favors Hybrid cannabis strains?
What can Akerna's MJ Platform provide to cannabis operators?
