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New York Cannabis Sales
Apr, 2024
Overview
The New York cannabis market is showing promising signs of growth, particularly in the recent month where total sales reached $38.82 million, a significant 13.1% increase in sales growth month-over-month. This growth is coupled with a 17.6% rise in unit sales, indicating a robust expansion in consumer demand. However, the average item price has seen a slight decrease from $38.67 to $37.18, suggesting that while more consumers are purchasing, they're doing so at slightly lower price points.
Despite the overall market growth, the pricing trend in New York is not uniform across all categories. Some categories are experiencing higher average prices, while others are seeing price reductions. This dynamic market behavior underscores the importance of understanding category-specific trends to capitalize on consumer preferences and pricing elasticity.
Apr, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing New York to other states, it's evident that the market size is smaller but growing at a faster pace. For instance, California's market size is significantly larger with $358.69 million in sales, but it experienced a -1.6% month-over-month sales growth, whereas New York saw a 13.1% increase. Similarly, Michigan's market is also larger at $281.56 million but with a modest 2.7% increase in units sold compared to New York's 17.6%.
In terms of pricing, New York's average item price is higher than other states like Colorado ($15.68) and Michigan ($11.58), which could be attributed to a variety of factors including market maturity, regulatory environment, and consumer demographics.
The data presented here offers a glimpse into the New York cannabis market. For a more comprehensive analysis or to explore other market opportunities, consider leveraging Headset Insights for deeper dives into specific segments or trends.
New York Weed Prices
Category Performance
The Pre-Roll category in New York has demonstrated an interesting trend, with a substantial 19.4% month-over-month sales growth and a 27.6% increase in units sold. Within this category, the 'Sativa - Single Strain' segment stands out with a remarkable 41.7% sales growth and a 65.2% rise in unit sales, indicating a strong consumer preference for this segment.
The top brand in the 'Sativa - Single Strain' segment for October 2023 was Ruby Farms, with total sales of $185,315 and an average item price of $42.71. This suggests that even with a higher price point, quality and brand recognition may play a significant role in consumer purchasing decisions.
Top Cannabis Brands in New York
Product Category Market Share In New York
Historical Cannabis Sales In New York
New York Cannabis Reports
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New York Marijuana Trends
New York Cannabis News
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