Cannabis Sales Slump After HolidaysMarch 8, 2022
Cannabis sales are off to a slow start for the year across the U.S., according to a new report from analytics firm BDSA. December sales were quite strong in most U.S. markets, rivaling last July for all-time record monthly sales, so January sales are facing a tough consecutive comparison. BDSA’s figures include both recreational and medical sales.
California saw sales fall nearly 10% to $275 million in January, with flower down 23% and concentrates down 9%, though pre-rolls were up 12%. Colorado’s sales declined 4% to 168 million, while Nevada, still suffering from depressed tourism, saw sales drop 8% to $59 million in January. Even Arizona, which launched recreational sales just a year ago, endured a 10% fall-off to $104 million.
Further east, Illinois lost ground as its combined sales fell 15% sequentially to $147 million, with $113 million coming from recreational sales. December was Massachusetts’ best month on record with nearly $160 million in sales, which dwarfed January’s total of $136 million—nonetheless, that figure is 25% higher than January 2021’s sales. Florida’s generally booming medical market lost 7% to land at $153 million for the month of January.—Danny SullivanSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.