.svg){kind=small}
Colorado Cannabis Sales
Mar, 2024
Overview
The cannabis market in Colorado has been experiencing a dynamic landscape. As of March 2024, the average item price has seen a slight increase to $17.10, up from $16.16 in the previous month, indicating a potential stabilization in pricing after a period of decline. Total sales reached over $107.59 million, with a month-over-month growth of 10.2%, which is a positive sign of recovery despite a year-over-year sales drop of 12.1%. The total units sold in the same month were approximately 6.29 million, with a modest month-over-month growth of 4.2%. This mixed picture of growth and decline suggests a market that is adjusting to various factors, including consumer demand and regulatory changes.
The Colorado cannabis market has been consistently one of the largest in the United States, but it has not been immune to the challenges faced by the industry. Over the past 24 months, the market has seen fluctuations, with a notable decrease in total sales from April 2022's high of $131.71 million to a low of $95.82 million in November 2023. The market has since been on a path to recovery, with recent months showing signs of positive growth. This resilience is indicative of the market's maturity and the adaptability of businesses operating within it.
Mar, 2024
Sales
Year Over Year
Growth
Market Comparison
When compared to other states, Colorado's cannabis market is sizable but not the largest. California leads with total sales of $364.56 million, followed by Michigan at $284.56 million. Colorado's total sales of $107.59 million place it in a competitive position, but with room to grow. The market's month-over-month sales growth of 10.2% is strong, yet the year-over-year decline needs to be monitored.
Pricing in Colorado is competitive, with an average item price lower than that of Illinois ($32.49) and Maryland ($30.11), but higher than Oregon ($13.80) and Washington ($12.82). This indicates a mid-tier pricing strategy that could appeal to a broad range of consumers.
For a more comprehensive understanding of the cannabis market in Colorado and other states, consider leveraging Headset Insights for an in-depth analysis.
Colorado Weed Prices
Category Performance
One category that stands out for its different trend is Edibles, particularly the Gummies segment. In March 2024, Gummies achieved a total sales of nearly $19.25 million, with a significant year-over-year sales growth of 10.5% and a month-over-month unit growth of 25.2%. This contrasts with the overall market's year-over-year decline, highlighting consumer preference for this segment.
The top brands in the Gummies segment for October 2023 were Wyld, Wana, and Dialed In Gummies, with Wyld leading in total sales and Wana commanding a higher average item price. These brands have successfully captured the market's attention through quality products and effective branding strategies.
Top Cannabis Brands in Colorado
Product Category Market Share In Colorado
Historical Cannabis Sales In Colorado
Colorado Cannabis Reports
Understanding the recent sales declines in legacy cannabis markets
Colorado Cannabis News
.png)
Navigating the Colorado Cannabis Market: Takeaways from our Denver Data Night
.png)
A look at last year's 4/20
Get More Colorado Cannabis Market Data