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Daily Archive: January 18, 2022

Wine’s Premium-Plus Tier On The Rise As Total Market Slips

After 10% and 14% gains in IRI channels by volume and dollars, respectively, in 2020, retail sales of wine slumped last year due to tough comparisons against a pandemic-driven boom in the off-premise. Continue reading →

Posted in News on January 18, 2022

Wine Spectator: Joel Gott Wines Buys Napa’s Historic Edge Hill Winery

Joel Gott Wines has purchased Napa’s historic Edge Hill property from Rudd Estate. Continue reading →

Posted in News on January 18, 2022

News Briefs for January 18, 2022

Johnson Brothers has named George Marsden as chief commercial officer effective March 1. Continue reading →

Posted in News on January 18, 2022

Craft Brewing and Distilling News for January 18, 2022

•Mesa, Arizona’s Cider Corps has partnered with Hensley Beverage Company to bring the cidery’s products to bars and retailers across the state. Continue reading →

Posted in News on January 18, 2022

Unprecedented Number Of States Considering Cannabis Reform In 2022

With the dawn of another election year comes the prospect of state-level progress on cannabis reform. Continue reading →

Posted in News on January 18, 2022

Michigan Sales Surge To New High In December

Recreational cannabis sales in Michigan topped $135 million in December, rivalling Illinois’ total and improving on November’s sales figures by nearly $15 million to reach a record high, according to data from the state’s Marijuana Regulatory Agency. Flower made up almost half of consumers’ spending at $63.7 million. Vape cartridges claimed a distant second-place at $29.8 million, followed by edibles at $18.5 million, shake and trim at $11.3 million, and concentrates at $9.7 million. Medical cannabis sales contributed an additional $33 million to the overall total.

Michigan’s recreational market launched in January of 2020, meaning that December 2021 makes for two full years of sales. In that time, the market has grown by leaps and bounds. The best month of recreational sales in 2020 was about $70 million, roughly half what the market achieved last month. Meanwhile, prices have fallen by more than half: when the market launched, a pound of cannabis was worth just over $8,000, but the price had sunk by last month to just below $3,000, driven by increasing supply. The state now boasts more than 500 licensed growers, 107 processing licenses, and 432 retail licenses. —Danny Sullivan

Posted in News on January 18, 2022

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