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Arizona Cannabis Sales
Sep, 2024
Overview
Arizona's cannabis market has experienced significant fluctuations over the past two years. As of September 2024, the total sales reached approximately $84.8 million, marking a month-over-month decrease of 3.5% and a stark year-over-year decline of 25.1%. This downturn is reflected in both sales dollars and unit sales, with unit sales also decreasing by 17.4% compared to the previous year. The average item price in September 2024 was $18.93, slightly up from August's $18.79 but still lower than the previous year's average, indicating a potential shift in consumer spending habits or market saturation.
The market's performance over the last 24 months shows a pattern of peaks and troughs, with the highest recorded sales at $127.4 million in March 2023. However, since then, the market has generally trended downwards, with occasional slight recoveries. This trend suggests a cooling off after an initial surge in demand, possibly due to market maturation or increased competition.
Sep, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Arizona to other major markets like California and Colorado, it's evident that Arizona's market is smaller and facing steeper declines. For instance, California's total sales in September 2024 were approximately $334.2 million, and Colorado's were about $104.8 million, both significantly higher than Arizona's $84.8 million. Moreover, while Arizona's year-over-year sales dropped by 25.1%, California and Colorado saw declines of 7.7% and 7.4%, respectively. This indicates that Arizona's market might be experiencing unique challenges that are affecting its performance more severely than in other states.
Arizona Weed Prices
Category Performance
The Flower category, traditionally a strong performer in cannabis markets, has shown a significant downturn in Arizona. In September 2024, the Flower category accounted for approximately $33.7 million in sales but suffered a 28.4% decline year-over-year and a 24.6% drop in units sold. The average price per item in this category has decreased slightly from $27.93 in August 2024 to $27.45 in September 2024.
Product Category Market Share In Arizona
Historical Cannabis Sales In Arizona
Arizona Cannabis Reports
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A high-level overview of the Arizona cannabis market
Arizona Cannabis News
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