Cannabis Market Overview February 2021

Welcome to our monthly cannabis market overview.

Here are five key metrics from the previous month to provide you with a pulse check on legal cannabis markets. This quick read will present data on total sales, year over year growth, basket count, and more. You'll find a few shout-outs for brands & companies that achieved something noteworthy as well. You can also keep track of these insights for free when you sign up for Insights Pulse.

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‍Metric Definitions

• Total sales = the total amount of sales for the month.
• YoY sales growth = calculates the percentage change in total sales from the same month last year.
• Basket count = is the total amount of transactions for the month.
• Average basket = total revenue divided by the total number of transactions.
• Brand concentration = is the % of the market that the top 10 brands make up (in terms of sales dollars). EX: in CA in Dec 2019 the top 10 brands held 32% market share.
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The Alberta cannabis market

QWEST has grown the last year from owning 0.5% of the AB Flower market last January to now owning 2.7% this January. Their top selling strain in January was Skunk 1, which made up 40% of their Flower sales.

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PROVINCE:

Alberta

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‍TOTAL SALES:

$57.1M CAD

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YOY SALES GROWTH:

71%

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AVERAGE BASKET:

$45.09 CAD

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COUNT OF BASKETS:

1.2M

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BRAND CONCENTRATION:

40%

The British Columbia cannabis market

Note: Data for BC is from December 2020, YoY sales growth is comparing December 2020 to December 2019.

Cove owned a total of 3.5% of the Oil market in December within BC. Their largest Oil segment was CBD, but their Hybrid segment grew by 400%+ between November and December.

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PROVINCE:

‍British Columbia

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TOTAL SALES:

$40.4M CAD

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YOY SALES GROWTH:

127%

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AVERAGE BASKET:

$46.36 CAD

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COUNT OF BASKETS:

.8M

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BRAND CONCENTRATION:

N/A

The California cannabis market

CANN Social Tonics owned 24% of the Beverage share in CA in January with a crazy 2,000%+ year over year growth. Their top selling product in CA this January was the CBD:THC 2:1 Lemon Lavender Social Tonic 6-Pack (24mg CBD, 12mg THC).

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STATE:

‍California

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TOTAL SALES:

$411.8M USD

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YOY SALES GROWTH:

43%

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AVERAGE BASKET:

$65.91 USD

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COUNT OF BASKETS:

6.2M

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BRAND CONCENTRATION:

26%

The Colorado cannabis market

Veritas Fine Cannabis has grown in Pre-Roll sales by 230% when comparing sales from January 2020 to January 2021, and has also grown sales between December and January by 21%. The most popular strain Veritas Fine Cannabis sold in Pre-Rolls this January was The Sauce.

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STATE:

‍Colorado

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TOTAL SALES:

$155.6M USD

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YOY SALES GROWTH:

39%

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AVERAGE BASKET:

$60.34 USD

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COUNT OF BASKETS:

2.5M

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BRAND CONCENTRATION:

29%

The Illinois cannabis market

Note: Data for IL is from December 2020, YoY sales growth is comparing December 2020 to December 2019.

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STATE:

‍Illinois

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TOTAL SALES:

$121.3M USD

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YOY SALES GROWTH:

343%

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AVERAGE BASKET:

$110.52 USD

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COUNT OF BASKETS:

1M

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BRAND CONCENTRATION:

N/A

The Massachusetts cannabis market

Note: Data for MA is from December 2020, YoY sales growth is comparing December 2020 to December 2019.

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STATE:

Massachusetts

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TOTAL SALES:

$84.9M USD

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YOY SALES GROWTH:

63%

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AVERAGE BASKET:

$91.16 USD

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COUNT OF BASKETS:

.9M

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BRAND CONCENTRATION:

N/A

The Michigan cannabis market

Note: Data for MI is from December 2020, YoY sales growth is comparing December 2020 to December 2019.

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STATE:

‍Michigan

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TOTAL SALES:

$104M USD

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YOY SALES GROWTH:

196%

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AVERAGE BASKET:

$78.67 USD

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COUNT OF BASKETS:

1.3M

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BRAND CONCENTRATION:

N/A

The Nevada cannabis market

Gold Leaf Gardens owned 4.4% of the Flower market within NV in January, which is a great increase compared to last January when it only owned 0.6%. Sales from the Hybrid segment accounted for 64% of their sales.

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STATE:

‍Nevada

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TOTAL SALES:

$67.6M USD

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YOY SALES GROWTH:

19%

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AVERAGE BASKET:

$65.07 USD

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COUNT OF BASKETS:

1M

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BRAND CONCENTRATION:

34%

The Ontario cannabis market

Note: Data for ON is from December 2020, YoY sales growth is comparing December 2020 to December 2019.

Between November and December, Back Forty Cannabis has grown 60% in sales in the Vapor Pen category in the ON market. This brand's top selling product in December was the Kush Mint Cartridge (1g), which made up 42% of their overall Vapor Pen sales.

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PROVINCE:

‍Ontario

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TOTAL SALES:

$74.3M CAD

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YOY SALES GROWTH:

161%

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AVERAGE BASKET:

$53.45 CAD

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COUNT OF BASKETS:

1.3M

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BRAND CONCENTRATION:

N/A

The Oregon cannabis market

Mule Extracts has grown its Edible sales in OR by 300%+ when comparing sales in January 2020 to January 2021. Their most popular flavor last month was Pomegranate, which contributed 16% of their sales.

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STATE:

‍Oregon

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TOTAL SALES:

$97.4M USD

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YOY SALES GROWTH:

41%

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AVERAGE BASKET:

$40.39 USD

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COUNT OF BASKETS:

2.4M

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BRAND CONCENTRATION:

24%

The Saskatchewan cannabis market

Note: Data for SK is from December 2020, YoY sales growth is comparing December 2020 to December 2019.

Ace Valley introduced their Edibles into the SK market in November and owned 4.4% of the Edible share by December. Their top selling Gummies flavor in SK during December was Blueberry.

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PROVINCE:

‍Saskatchewan

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TOTAL SALES:

$14.9M CAD

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YOY SALES GROWTH:

96%

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AVERAGE BASKET:

$47.90 CAD

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COUNT OF BASKETS:

.3M

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BRAND CONCENTRATION:

N/A

The Washington cannabis market

Northwest Cannabis Solutions was the top ranked brand in Vapor Pens within WA in January. Within the Vapor Pen category, Northwest Cannabis Solutions saw a 20% increase in sales from December to January.

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STATE:

‍Washington

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TOTAL SALES:

$124.5M USD

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YOY SALES GROWTH:

28%

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AVERAGE BASKET:

$34.96 USD

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COUNT OF BASKETS:

3.5M

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BRAND CONCENTRATION:

23%

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