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New York Cannabis Sales
Oct, 2024
Overview
The New York cannabis market has shown remarkable growth, particularly in the recent year. As of October 2024, the average item price in New York was $36.32, a slight increase from $36.26 in September 2024. This pricing is significantly higher compared to other states, reflecting New York's unique market dynamics and possibly stricter regulatory environment. The total sales for October 2024 reached approximately $92.41 million, with a staggering year-over-year sales growth of 419.2% and a month-over-month growth of 9.1%. This rapid growth is indicative of a burgeoning market that is quickly expanding as it matures.
The market's expansion is supported by a robust increase in unit sales, which saw a year-over-year growth of 457.8%. This suggests not only a growing acceptance and use of cannabis among New Yorkers but also an increasing efficiency in the market's distribution and retail sectors. The high average item price coupled with significant sales growth positions New York as a leading market in the cannabis industry, with substantial ongoing and potential economic impacts.
Oct, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing New York to other major markets like California and Colorado, New York's average item price is significantly higher. For instance, California's average item price in October 2024 was $19.34, and Colorado's was $15.27. This higher pricing in New York could be attributed to newer market adjustments and possibly higher operational costs. In terms of growth, New York's year-over-year sales growth of 419.2% far exceeds that of any other state, with the closest being Ohio at 94.3%. Here's how New York compares:
New York Weed Prices
Category Performance
The Flower category in New York has demonstrated a distinct trend compared to the overall market. In October 2024, the Flower category achieved total sales of approximately $31.09 million with an average item price of $56.31, which is a significant increase from the previous year. The segment within this category showing the most notable growth is Ground Flower, which reported a year-over-year sales growth of 1176.6% and a unit growth of 2891.3%. Here's a breakdown of the Flower category's performance:
Product Category Market Share In New York
Historical Cannabis Sales In New York
New York Cannabis Reports
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New York Marijuana Trends
New York Cannabis News
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