In previous years there have been records of very high spending on beers, fireworks, and wines during the week before the USA’s Independence Day, the reverenced Fourth of July. This year, cannabis has joined the charts of America’s top spending for the Fourth of July, recording sales of 400 million dollars in the week before Independence Day. Since its legalization, the cannabis business has been known to be on constant growth, but the sales around the USA between June 30th and July 4th of this year have broken the ceilings.
Akerna Corp., a regulatory compliance technology company which tracks worldwide cannabis sales, collected data for the sales of cannabis during this period. Their daily records of sales across the country reveal that sales spiked above every other time in the past, including the holiday on 4th of July when dealers were closed. How these buyers got a hold on the opportunities to purchase the drug is still a wonder.
Data from Akerna Corp. reveals that there was a big-time rise of 112 percent on Wednesday, the day before Independence Day. These statistics were compared to average sales on other Wednesdays in previous weeks. Sales on Tuesday was 53 percent higher than past Tuesdays while Monday and Sunday sales were 45 percent and 50 percent above their averages respectively.
As earlier mentioned, dealers were closed for the holiday on Thursday, but sales on Independence Day were slightly higher than the recorded average on daily sales.
Although the record spending on cannabis may not be on top of the country’s spending as Americans have been known to spend huge sums on beers, fireworks, and wines. According to 2018 data collected by WalletHub, Americans spent 568 million dollars on wine, 1 billion dollars on beer, and 1 billion dollars on fireworks in the week before the 2018 Independence Day.
With these data compared, it can be said that cannabis has made its blow into winning the attention of economists and the entire population of investors and entrepreneurs.
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