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Washington Cannabis Sales
Nov, 2024
Overview
Washington's cannabis market has demonstrated a relatively stable growth pattern, with minor fluctuations in sales over the past two years. As of November 2024, the average item price in the state has slightly decreased to $12.21 from $12.41 the previous year, indicating a modest deflation in product prices. Total sales for November 2024 amounted to approximately $100.41 million, showing a slight decrease of 0.7% month-over-month but a marginal year-over-year growth of 0.1%. This suggests a market that is maintaining its consumer base and revenue, despite minor monthly volatilities.
Nov, 2024
Sales
Year Over Year
Growth
Market Comparison
Comparing Washington to other major markets like California and Colorado, Washington's cannabis market is smaller in scale but shows unique characteristics. For instance, California's total sales in November 2024 were significantly higher at approximately $346.41 million, but it experienced a slight year-over-year decline of 0.5%. Colorado, with a total sales of $94.28 million, also saw a year-over-year decline. This positions Washington as a market with stable, albeit slow, growth in contrast to larger states experiencing declines.
Washington's pricing trends are also distinct. The state's average item price is one of the lowest among major markets, which could be contributing to its steady unit sales growth. This pricing strategy might be helping maintain consumer interest and market stability in Washington compared to the higher-priced markets like New York, where the average item price is significantly higher.
For a deeper dive into specific market dynamics or further comparative analysis across other states, consider leveraging Headset Insights for comprehensive market data and trends.
Category Performance
The Edibles category in Washington has shown interesting dynamics, particularly in its segment performance. For November 2024, the total sales for Edibles reached around $10.62 million with a notable year-over-year growth of 16.9%. This growth is higher than some other categories, reflecting a growing consumer preference for this form of cannabis consumption. The segment breakdown reveals significant variations:
- Gummies and Honey, Sugar, and Sweeteners segments experienced substantial growth, with Gummies sales at approximately $7.47 million and a year-over-year increase of 29.3%. Honey, Sugar, and Sweeteners, although smaller in scale, showed a remarkable growth of 62.0% in sales.
- In contrast, segments like Caramels, Chews, and Taffy and Chocolate saw declines in year-over-year sales, indicating shifting consumer preferences within the Edibles market.
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