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Washington Cannabis Sales
Apr, 2024
Overview
Washington's cannabis market has been experiencing a subtle shift in trends. While the average item price has seen a slight decrease from $13.00 in March 2024 to $12.67 in April 2024, total sales have also dipped by 3.1% month-over-month. However, the year-over-year sales growth and unit growth remain relatively stable at -2.6% and 0.6%, respectively. This indicates a market that is maintaining its consumer base but is facing challenges in increasing its overall revenue.
The market's resilience is evident in the consistent number of units sold, which suggests a steady demand for cannabis products. Despite the decrease in average item prices, which could be attributed to market competition or an increase in lower-priced product offerings, the Washington cannabis market is holding its ground in terms of consumption.
Apr, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Washington to other states, it's clear that the market dynamics vary significantly. For instance, Maryland's cannabis market has seen a remarkable year-over-year sales growth of 135.4% and unit growth of 111.6%, with an average item price of $29.56. In contrast, Washington's growth rates are more subdued.
Washington's market size is substantial, with total sales in April 2024 amounting to $101.33 million, yet it's not the largest nor the fastest-growing. Michigan's market is larger at $281.56 million, and Oregon, with a similar average item price, has a smaller market size but positive growth rates.
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Washington Weed Prices
Category Performance
The concentrates category in Washington has shown a notable divergence from the overall market trend. In April 2024, the average item price for concentrates decreased to $8.63, with total sales reaching $7,832,914. However, this category experienced a significant month-over-month sales decline of 9.9% and a year-over-year decline of 21.1%. The segment within concentrates that stands out is Wax, which saw a smaller decline in sales and a relatively stable unit growth compared to other segments.
Among the top brands in the Wax segment, Delectable Dabs and Forbidden Farms lead in sales, with total sales of $446,973 and $400,075 respectively in April 2024. These brands have managed to capture consumer interest despite the overall decline in the concentrates category.
Top Cannabis Brands in Washington
Product Category Market Share In Washington
Historical Cannabis Sales In Washington
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