Cannabis Sales Were Soft in July

New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 15 states.

Cannabis sales increased 0.5% sequentially in July, which was a decrease on a per-day basis of 2.7%. In this review, we share the results by state, beginning with the western markets and then concluding with the eastern markets. In total, BDSA estimates that sales across the 15 markets totaled $2.20 billion during July, which was up 6.3% from a year ago. Excluding the large gain in New York, which I explain below, sales rose 1.6%.

BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In July, year-over-year growth was negative in all 5 states except for one, with the annual growth rates ranging from -1.1% in Arizona to 0.8% in California. Growth rose sequentially on a per-day basis in one of these states.

BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. In July, year-over-year growth ranged from -8.8% in Michigan to +857.0% in New York, which had its adult-use sales included by BDSA beginning in January but first included a few months ago. Ohio began adult-use in August and was quite high in growth. Note that Florida and Pennsylvania are medical-only markets. Sequential growth was negative four markets and fell in all markets on a per-day basis.  The annual growth was meager except in four states. We have been warning about Florida potentially slowing despite the strong growth in dispensaries and in unit volumes due to competitive pressure, and it was up only slightly a year ago for the second straight month after two annual declines earlier this year. The state had never seen a decline until March.

For readers interested in a deeper look at cannabis markets across these fifteen states and more, including segmentation by additional product categories, brand and item detail, longer history, and segmentation by product attributes, learn how BDSA Solutions can provide you with access to actionable data and analysis.