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Arizona Cannabis Sales
Oct, 2024
Overview
Arizona's cannabis market has experienced significant fluctuations in recent months, with a notable decline in year-over-year sales growth. In October 2024, total sales in Arizona were approximately $83.93 million, a decrease of 25.6% compared to the same month the previous year. This decline is mirrored in the unit sales, which also fell by 21.8%. Despite these challenges, the average item price has seen a slight increase from $19.05 in September 2024 to $19.13 in October 2024. This suggests a shift in consumer behavior or adjustments in product offerings that could be influencing the overall market dynamics.
The past two years have shown a volatile market with peaks and troughs in sales figures. For instance, December 2022 saw a high of $124.69 million in sales, which then dipped to $103.66 million by January 2024. Such fluctuations indicate a market that, while growing, is also facing significant challenges and adjustments, likely influenced by regulatory changes, consumer preferences, and economic conditions.
Oct, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Arizona to other states, it's clear that the market dynamics vary significantly. For instance, New York and Ohio have seen explosive growth rates of 419.2% and 94.3% respectively in year-over-year sales. In contrast, Arizona's market is retracting. Pricing in Arizona remains competitive, with an average item price lower than states like New York ($36.32) and Ohio ($35.16), yet higher than Colorado ($15.27) and Oregon ($13.28).
This comparative perspective highlights Arizona's unique position within the national cannabis market. The state's market is not expanding at the pace of some others, possibly due to saturation, regulatory challenges, or other market-specific factors.
Category Performance
The Flower category in Arizona has been particularly hard hit, with a year-over-year sales drop of 29.9% and a unit sales decrease of 30.3% as of October 2024. Despite this, the average item price for Flower has slightly increased to $28.36. A deeper dive into the segments within the Flower category reveals varied performance:
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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A look at last year's 4/20
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Get More Arizona Cannabis Market Data