Liquor sales are up 10% year-over-year according to business intelligence from Akerna Corp (NASDAQ:KERN). Red wine took the lead with 18% in the sales volume leaving behind premium beer and whiskey, which attained 15% and 13%. The compliance technology provider and developer compiled the statistics alongside Ample Organics.
However, going into the father’s day, there was a different trend in the sales volume. The premium beer was the beverage of choice with 18%, while red wine and whiskey followed with 14% and 12%, respectively.
Both The Alcohol and Cannabis Industries Are Of a Recession Resilient Nature
In the last couple of months, Gin experienced slowed sales, but in March, when the COVID-19 plague hit the globe, the spirits had a 55% sales increase. On the other hand, ready to drink beverages had an increased percentage growth of 40% year-over-year. Nonetheless, the notable and good trend had the support of the lower-calorie beverages whose intake was high, according to business intelligence analyst at Akerna, Ostap Rapeyko.
The COVID-19 pandemic took the world by surprise, whereby both small and big multinational businesses were not spared. To date, hundreds of them have closed, and those still operating have cut down business activities. Surprisingly, alcohol and cannabis industries seem to be recession resilient in nature, given that their markets are still soaring high.
The fact that premium beer was a market leader going into Father’s Day, whiskey was still considered equal given that things like whiskey sales offer related to Father’s Day was still going around.
Akerna is a recognized supporter of the Last Prisoner Project (LPP)
The Last Prisoner Project (LPP) brings together cannabis industry leaders and key players who share in the commitment of restoring justice in the cannabis industry. According to LPP’s co-founder Steve DeAngelo, the legal cannabis industry is growing by size and complexity. Hence, the need to have a body takes on the challenges faced by both cannabis retailers and consumers.
The people behind the Last Prisoner Project operate under intermediation, support, and awareness campaigns to redress the past and continuing harms of the cannabis space. It is worth noting that given that the United States is walking away from the criminalization of cannabis, there is likely to be a new shift in the industry.
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