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Cannabis sales and summer tourism in Las Vegas
While things might not be quite back to normal yet, summer cannabis sales indicate tourism is picking back up. When we compare June-July 2021 with April-May 2020, we find that total sales have rebounded significantly from early in the COVID-19 pandemic, with nearly a 70% increase in total sales. In this graph, we can see which product categories have increased and decreased in market share since early in the COVID-19 pandemic.
Edibles and Beverages are the clear winners, with significant lifts in market share. This makes sense as both product types are portable, approachable for new cannabis users, and perfect for consuming in a hotel. The Concentrate category saw the largest decrease in market share. Concentrates may be one of the most difficult categories for tourists to engage with as these products typically require specialized paraphernalia to consume (like dab rigs).
We are always monitoring cannabis markets trends, but Headset Insights makes it simple for anyone to keep track of cannabis data. Sign up for a demo to learn how you can stay ahead of the cannabis market.
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.
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