New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 15 states.
Cannabis sales increased 6.5% sequentially in March. Adjusted for the higher number of days, sales fell sequentially by 3.8% on a per-day basis. In this review, we share the results by state, beginning with the western markets and then concluding with the eastern markets. In total, BDSA estimates that sales across the 15 markets totaled $2.14 billion during March, which was up 1.6% from a year ago.
Western Markets
BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In March, year-over-year growth was negative in four states. Growth fell sequentially in each of these states on a per-day basis.
Eastern Markets
BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. In March, year-over-year growth ranged from –6.8% in Florida to +32.7% in Ohio. Ohio began adult-use in August which has boosted the growth. Note that Florida and Pennsylvania are medical-only markets. Sequential growth on a per-day basis was down in seven of the ten markets. The annual growth was negative in five markets and up sharply in only two states. We have been warning about Florida potentially slowing despite the strong growth in dispensaries and in unit volumes due to competitive pressure.
For readers interested in a deeper look at cannabis markets across these fifteen states and more, including segmentation by additional product categories, brand and item detail, longer history, and segmentation by product attributes, learn how BDSA Solutions can provide you with access to actionable data and analysis.
