Lost recreational marijuana sales in Massachusetts stemming from forced store closures already could amount to $40 million among the state’s cannabis retailers, underscoring business owners’ need to be strategic about their operations during the COVID-19 pandemic. Massachusetts adult-use marijuana retailers, which were forced to close on March 24 by the governor, might be missing out […]
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Chart: Michigan’s early recreational marijuana sales a fraction of their future potential
Michigan sold more than $31 million in adult-use cannabis during its first three months of sales, though the state is still working out the kinks in this developing market. Despite near-term disruption from the coronavirus, early sales are just a fraction of their potential in a market that could reach $1.5 billion in sales annually. […]
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Adult-use cannabis sales plunge after briefly hitting new heights on coronavirus concerns
Adult-use marijuana sales plunged over the weekend, only a few days after skyrocketing to new heights as consumers prepared for fallout from coronavirus. The response might mark a natural decline after consumers stocked up before sheltering in place or it could be the result of economic pressures from the pandemic, which has resulted in the […]
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Chart: Marijuana brand concentration highlights need for strategic branding, marketing
As most recreational cannabis markets mature, a small number of brands are gobbling up the majority of sales. Brand concentration – where a few brands command most of a segment’s sales – highlights the importance of effective branding and messaging for marijuana companies. “When analyzing the competitive landscape of the cannabis market we often look […]
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Chart: New York’s medical marijuana program grows, but future business opportunity hinges on adult-use legalization
While New York’s medical cannabis patient registry increased by more than 23,000 in 2019, growth has slowed significantly because of various market factors leading to a low consumer participation rate. Less than 1% of New York residents have signed on as medical marijuana patients, due in part to restrictions on cannabis product forms and limited […]
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Chart: Cannabis delivery companies adapt strategy to focus on increasing participation by women
As cannabis acceptance becomes widespread, consumer demographics have shifted to include more women, impacting methods used by businesses to reach their target audience. San Francisco-based Eaze, an online cannabis marketplace and home delivery service, reported the number of women participating on its platform increased 81% between 2018 and 2019. That brings the company’s total proportion […]
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Chart: Florida sales of smokable marijuana topped 22,000 pounds in less than six months
Medical cannabis patients in Florida have embraced the addition of smokable products to their purchasing options, with more than 22,000 pounds of the product sold in less than six months. By comparison, that figure is more than three times the quantity of all medical marijuana sold in Ohio during the first 12 months of sales in […]
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Chart: Local approval in Michigan adult-use marijuana program creates uneven business opportunity
Michigan’s strategy for adult-use cannabis businesses empowers localities to control their communities, but it creates disparate business opportunities within the state’s market. Regulators chose not to restrict the number of recreational marijuana businesses allowed statewide but granted municipalities local approval. Adult-use sales began in Michigan on Dec. 1, 2019, and could reach $1.4 billion to […]
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Chart: Pre-Christmas marijuana product sales increase up to 53%
‘Tis the season for increased holiday spending – and that includes outlays on recreational cannabis products, which saw average category sales increases of more than 50% in 2018 on items designated for both gift-giving and personal consumption. Data from Seattle-based cannabis analytics firm Headset shows that sales in the pre-Christmas week (Dec. 18-Dec. 24) in 2018 […]
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Chart: Lack of dispensaries doesn’t limit first six months of Arkansas medical marijuana sales
Arkansas posted impressive medical marijuana sales during the first six months of operation, surpassing $21 million, despite the state’s difficulties in getting dispensaries online.
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Chart: Marijuana sales increase on Green Wednesday, Black Friday
As shoppers head out to prepare for Thanksgiving and participate in Black Friday sales, data from two firms show consumers may be upping their purchases of marijuana products as well. Data from Seattle-based Headset reveals that 2018 sales on “Green Wednesday” – the day before Thanksgiving – increased 63% over the average Wednesday. And Santa […]
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Chart: Year-to-date cannabis investment activity up 40% over 2018, but it’s slowing
Cannabis industry capital investment hit $10.4 billion through week 40 – a 40% increase over 2018 – but the previously hot investment activity has cooled in recent months.
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The pandemic pivot and how cannabis companies reacted to COVID-19.