Cannabis Sales Bounce Higher in October

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

Cannabis sales increased 3.4% sequentially in October, which was an increase on a per-day basis of 0.1%. 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 $2.11 billion during October, which was up 5.8% from a year ago. Excluding the large gain in New York, which I explain below, sales fell 2.7%. Note that BDSA revised some data historically.

BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In September, year-over-year growth was negative in 3 states. Growth fell sequentially on a per-day basis in four of these states.

BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. In September, year-over-year growth ranged from -6.5% in New Jersey to +1513.2% 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 which has boosted the growth. Note that Florida and Pennsylvania are medical-only markets. Sequential growth was flat in most markets, helped by the extra day, and negative in one market.  The annual growth was negative in several markets and up sharply in two 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 has declined now for two consecutive months.

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.