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New York Cannabis Sales
Nov, 2024
Overview
The New York cannabis market has shown remarkable growth, particularly in the recent year. In November 2024, total sales reached approximately $97.56 million, with an average item price of $36.40. This represents a staggering year-over-year sales growth of 416.2% and unit growth of 457.6%. Such exponential growth is indicative of a rapidly expanding market base and increasing consumer acceptance and demand within the state.
Despite the high average item price relative to other states, the market continues to thrive, suggesting a strong consumer willingness to pay premium prices for cannabis products in New York. This trend is supported by the consistent month-over-month growth in both sales and units, highlighting sustained market expansion and consumer engagement.
Nov, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing New York to other major markets like California and Colorado, distinct differences emerge: - Market Size: New York's total sales of $97.56 million are substantial but still lag behind California's $346.41 million, indicating room for growth. - Growth Rates: New York's year-over-year growth far exceeds that of any other state, suggesting a newer, rapidly expanding market. - Pricing: The average item price in New York is the highest among the states analyzed, which could be attributed to newer market dynamics and initial supply constraints.
New York Weed Prices
Category Performance
The Flower category in New York stands out with its significant contribution to the state's cannabis market. In November 2024, Flower achieved sales of approximately $32.48 million with an average item price of $56.54, which is notably higher than other categories. This category has experienced a year-over-year sales growth of 401.4% and unit growth of 357.8%.
To further dissect the Flower category, examining specific segments and top brands provides deeper insights: - Segment Sales: The dominant segments within Flower include Indica, Sativa, and Hybrids, each appealing to different consumer preferences. - Top Brands: Brands such as BrandX, BrandY, and BrandZ lead in sales, showcasing strong market presence and consumer trust.
Product Category Market Share In New York
Historical Cannabis Sales In New York
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