Political and pandemic upheavals made 2020 an exceptional year.
And the roller-coast ride failed to slow in 2021, marking a second straight year of extreme unpredictability for the cannabis industry.
More companies have entered the marijuana point-of-sale market in 2021 than in previous years, setting up the possibility of downward price pressures in the POS sector and consolidation among businesses that provide the software to retailers.
Adult-use cannabis sales in Western states haven’t been able to keep the pace that led to exceptional growth in 2020, with lackluster summer sales showing a decline in growth from the previous year.
Vermont estimates the state’s new adult-use marijuana market will top $220 million in annual sales by 2024.
But getting there might be a slog, once sales begin next year.
Marijuana companies looking to sell their businesses should focus on profits first.
Medical marijuana patient numbers in New Hampshire and Rhode Island have stalled recently as the recreational holdouts become surrounded by new adult-use markets.
Sales of CBD-only products at recreational marijuana retail outlets have been falling since 2018 in four Western states as more of these goods move into mainstream stores and online, according to an analysis of sales data from Seattle-based Headset.
