While state cannabis markets have unique dynamics, sales generally have been strong during the COVID-19 pandemic, according to Nancy Whiteman, CEO of Boulder, Colorado-based edibles company Wana Brands.
During a Marijuana Business Daily webinar, Whiteman shared her company’s insights alongside broader data presented by Liz Connors, director of analytics at Seattle-based Headset.
Some markets have struggled. Specifically, adult-use cannabis sales in Colorado and Nevada declined in April.
Connors suggested those drops resulted from the sudden elimination of travel and tourism in both states. With no spring-break trips to Colorado ski towns or the Las Vegas strip, retailers were limited to local customers.
However, Wana Brands posted record sales in May in Arizona, Illinois, Michigan and Ohio, Whiteman said.
The brand also successfully launched in Oklahoma two weeks after that state’s safer-at-home orders began.
The clip below from the conversation focuses on the impact of COVID-19 on cannabis sales. Access the full, 60-minute conversation on our website.
Eli McVey will share other industry data at the “A Look Ahead: The Marijuana and Hemp Markets” session, part of MJBizConNEXT Direct.