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New York Cannabis Sales
Dec, 2024
Overview
The cannabis market in New York has shown remarkable growth, particularly evident in the recent year-over-year sales increase of 355.1% as of December 2024. This surge is accompanied by a unit growth of 399.1%, indicating a robust expansion in both revenue and consumption volumes. Despite the high average item price of $35.96, which is one of the highest in the country, the market continues to thrive, suggesting a strong consumer demand and a premium market positioning.
Dec, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing New York to other major markets such as California and Illinois, New York's growth rate outpaces these states significantly. For instance, California saw a year-over-year sales growth of -10.9% and Illinois at -9.4%, both of which contrast sharply with New York's 355.1%. This indicates a unique market dynamic in New York, possibly driven by recent regulatory changes or market entries. Pricing in New York remains higher than in other states, with California and Illinois averaging $18.86 and $28.17 respectively, compared to New York's $35.96.
Category Performance
The Flower category in New York stands out with a total sales of approximately $41.05 million in December 2024, and an average item price of $55.87. Despite a month-over-month sales decline of 6.1%, the year-over-year growth remains impressive at 334.0%. This category's resilience in maintaining high growth amidst overall market fluctuations is noteworthy. The segment analysis within the Flower category reveals the following sales data:
Product Category Market Share In New York
Historical Cannabis Sales In New York
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