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Cannabis sales growth in mature markets
Mature markets that have been open for at least five years are struggling to maintain sales growth. This is because during COVID, sales were boosted in all markets as consumers were spending more time at home and less money on things like restaurants and travel. As we emerged from the pandemic, these markets have all seen significant contraction. Here we look at Colorado, Oregon, and Washington, which all saw double digit contraction YoY for January - May 2022. These trends suggest that these markets will post negative growth in 2022 (compared to 2021).
This is likely a correction towards a restabilization point. Growth rates in 2020 and 2021 were unstable and led by changing consumer trends. Much like we are seeing consumers move away from durable goods purchases and gadgets and into travel and experience spending, we are seeing decreased consumption of cannabis in many mature markets. New markets are less impacted as they are still gaining new customers, opening new stores, and are working towards saturation.
Track cannabis sales and market performance
Key metrics defined
These six key metrics from the previous month will provide you with a pulse check on legal cannabis markets. Below, you'll find data on year over year growth, basket size, and more.
Total Sales
Total monthly sales for the previously completed month.
YoY Sales Growth.
Year over year growth of sales (For example, November 2022 compared to November 2021).
Avg Item Price
The average price of a cannabis item in the most recently completed month.
Avg Basket Size
The average size (in sales $) of a retail basket in the most recently completed month.
Median Store SKU Counts
The number of distinct SKUs sold in the median store in the most recently completed month. Median was used instead of an average to remove the effects of outlier stores.
MOM LSSG
Median store Like-Store-Sales-Growth MoM - The month over month growth in sales for the median sample store (for example, January 2022 vs. December 2021). “Like stores” are filtered to exclude any newly opened stores or recently disconnected stores.
Alberta
Arizona
British Columbia
California
Colorado
Florida
Illinois
Maryland
Massachusetts
Michigan
Nevada
Ontario
Oregon
Saskatchewan
