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Arizona Cannabis Sales
Mar, 2024
Overview
The Arizona cannabis market has displayed a dynamic landscape over recent months. March 2024 sales reached $101.9 million, with over 5.1 million units sold, reflecting an 8.1% month-over-month sales growth. However, this growth is juxtaposed with a year-over-year sales decline of 19.8%. The average item price has seen a slight decrease from $23.36 in March 2023 to $19.86 in March 2024, indicating a potential shift in consumer buying patterns or market adjustments.
Despite the recent growth, the market has experienced fluctuations over the past two years. The 24-month trajectory shows peaks and troughs, with the highest sales recorded in March 2023 at $127 million, followed by a gradual decline and a recent uptick. This volatility underscores the importance of understanding the underlying factors contributing to these changes, such as consumer preferences, regulatory impacts, or competitive dynamics.
Mar, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Arizona to other markets, it's evident that the state's cannabis industry is not isolated in facing challenges. For instance, California, with the largest sales volume at $364.6 million in March 2024, also saw a year-over-year sales decline of 5.3%. However, Arizona's YoY sales decline is more pronounced at 19.8%. In terms of pricing, Arizona's average item price is competitive, sitting below Illinois' $32.49 but above Michigan's $11.92.
The growth rates also vary significantly across states. Maryland experienced an impressive 140.2% YoY sales growth, while Michigan saw a 14.0% increase. These figures highlight the diverse nature of cannabis markets across the country, with each state experiencing unique trends and market forces.
Arizona Weed Prices
Category Performance
In the Pre-Roll category, the 'Connoisseur / Infused' segment stands out with a positive trend, contrasting the overall market's downward year-over-year trajectory. This segment saw a modest decrease in YoY sales by 3.4%, but a significant YoY unit growth of 36.5% in March 2024. The average item price has decreased from $28.55 to $20.2, which may have contributed to the increase in units sold.
The top brand in this segment for October 2023 was Jeeter, with total sales of $4.7 million and an average item price of $28.3. Other notable brands include STIIIZY and Tumble, with sales of $1.1 million and $569k, respectively.
Top Cannabis Brands in Arizona
Product Category Market Share In Arizona
Historical Cannabis Sales In Arizona
Arizona Cannabis Reports
A deep dive into the Arizona cannabis market
A high-level overview of the Arizona cannabis market
Arizona Cannabis News
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