It’s no secret that cannabis is a growing industry. Arizona just announced that it generated more than $1 billion in revenue from legal cannabis sales last year. Akerna Corp (NASDAQ:KERN), a leading cannabis software company, released a 2021 Cannabis Industry Year-End Review.
Here are some highlights from the report:
-April 20, 2021 U.S. cannabis sales were more than $110 million, a record for a single day. 4/20 is the biggest day for many marijuana smokers and an even bigger day for dispensaries.
-Black Friday was close behind with $99 million in sales. Dispensaries, like other retail stores, offer great deals on Black Friday to draw customers in.
-More women bought marijuana in 2021 compared to 2019 and 2020. The market share of women as customers of marijuana grew 38.3%, up from 35% in 2019.
-Multiple bills were introduced to further legalize cannabis. Right now, cannabis is still only legalized in the United States to a certain degree. In 2021, there were a number of bills introduced, including the States Reform Act and Cannabis Administration and Opportunity Act, that will make it easier for cannabis businesses to operate.
-Cannabis markets continue to grow around the world. In 2021, Germany announced that it would make cannabis fully legal. Following suit, Switzerland announced it would start a cannabis pilot program in 2022. Mexico also announced plans to legalize marijuana consumption.
The full 2021 Cannabis Industry Year-End Review can be found here.
