Cannabis Market Overview March 2021

Welcome to our monthly cannabis market overview.

Here are five key metrics from the previous month to provide you with a pulse check on legal cannabis markets. This quick read will present data on total sales, year over year growth, basket count, and more. You'll find a few shout-outs for brands & companies that achieved something noteworthy as well. You can also keep track of these insights for free when you sign up for Insights Pulse.

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‍Metric Definitions

• Total sales = the total amount of sales for the month.
• YoY sales growth = calculates the percentage change in total sales from the same month last year.
• Basket count = is the total amount of transactions for the month.
• Average basket = total revenue divided by the total number of transactions.
• Brand concentration = is the % of the market that the top 10 brands make up (in terms of sales dollars). EX: in CA in Dec 2019 the top 10 brands held 32% market share.
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The Alberta cannabis market

Wana is dominating the Gummies market in Alberta. They owned 53% of the market share in February after only entering the market in October of 2020. The most popular Edible flavor in the AB market in February was Strawberry.

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PROVINCE:

Alberta

‍TOTAL SALES:

$58.9M CAD

YOY SALES GROWTH:

76%

AVERAGE BASKET:

$45.11 CAD

COUNT OF BASKETS:

1.3M

BRAND CONCENTRATION:

38%

The British Columbia cannabis market

Original Stash's Flower sales in BC has grown 200%+ between December of 2020 and February 2021. Original Stash's top selling Flower product in BC was OS.Reserve Indica (28g) in February.

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PROVINCE:

‍British Columbia

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TOTAL SALES:

$40.9M CAD

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YOY SALES GROWTH:

94%

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AVERAGE BASKET:

$44.50 CAD

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COUNT OF BASKETS:

.9M

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BRAND CONCENTRATION:

38%

The California cannabis market

There is stiff competition within the Gummies segment in CA, and Kanha by Sunderstorm is staying in the game with a 18.3% share this February and year over year growth of 61%. Their top selling product is the CBD/THC/CBN 1:1:1 Blue Raspberry Tranquility Gummies 10-Pack (50mg CBD, 50mg THC, 50mg CBN).

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STATE:

‍California

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TOTAL SALES:

$400.5M USD

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YOY SALES GROWTH:

37%

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AVERAGE BASKET:

$65.57 USD

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COUNT OF BASKETS:

6.1M

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BRAND CONCENTRATION:

27%

The Colorado cannabis market

TR Concentrates was the top ranked brand in Colorado (after House Brand) this February in Concentrates. Their market share grew by 4% over the last year to land at 5.2% this February. The majority of their sales, 59%, came from the Wax segment.

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STATE:

‍Colorado

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TOTAL SALES:

$145.2M USD

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YOY SALES GROWTH:

29%

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AVERAGE BASKET:

$59.94 USD

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COUNT OF BASKETS:

2.4M

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BRAND CONCENTRATION:

30%

The Illinois cannabis market

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STATE:

‍Illinois

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TOTAL SALES:

$121.4M USD

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YOY SALES GROWTH:

93%

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AVERAGE BASKET:

$108.54 USD

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COUNT OF BASKETS:

1.1M

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BRAND CONCENTRATION:

N/A

The Massachusetts cannabis market

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STATE:

Massachusetts

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TOTAL SALES:

$81.1M USD

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YOY SALES GROWTH:

46%

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AVERAGE BASKET:

$89.69 USD

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COUNT OF BASKETS:

.9M

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BRAND CONCENTRATION:

N/A

The Michigan cannabis market

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STATE:

Michigan

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TOTAL SALES:

$103M USD

‍

YOY SALES GROWTH:

154%

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AVERAGE BASKET:

$77.94 USD

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COUNT OF BASKETS:

1.3M

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BRAND CONCENTRATION:

N/A

The Nevada cannabis market

Sip entered the Nevada Beverage market in June of 2020 and has grown to be the top ranking brand this February. With 10 distinct products they sold over 20K units, equating to over $160K in sales. Their top flavor sold in February was Watermelon.

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STATE:

‍Nevada

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TOTAL SALES:

$63.8M USD

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YOY SALES GROWTH:

19%

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AVERAGE BASKET:

$55.17 USD

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COUNT OF BASKETS:

1.1M

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BRAND CONCENTRATION:

40%

The Ontario cannabis market

Tidal is the number one Ontario Topicals brand with a 33% market share and over $80K in sales this January. Out of their four products, their top product is CBD Riva Plus Eucalyptus Lotion (400mg CBD, 60ml, 2oz).

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PROVINCE:

‍Ontario

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TOTAL SALES:

$74.3M CAD

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YOY SALES GROWTH:

139%

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AVERAGE BASKET:

$53.71 CAD

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COUNT OF BASKETS:

1.3M

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BRAND CONCENTRATION:

N/A

The Oregon cannabis market

Altered Alchemy is growing like a weed in the Oregon Concentrates market. They saw a crazy 2,000%+ growth when comparing February 2020 to February 2021. Their top selling strain in Concentrates this February is Orange Cookies.

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STATE:

‍Oregon

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TOTAL SALES:

$92.7M USD

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YOY SALES GROWTH:

32%

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AVERAGE BASKET:

$40.21 USD

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COUNT OF BASKETS:

2.3M

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BRAND CONCENTRATION:

23%

The Saskatchewan cannabis market

FIGR was ranked 7th across all categories in Saskatchewan this February. In addition to their strong rank, they grew 50% in sales between January and February. 71% of their sales comes from Flower and 23% of their sales comes from Pre-Rolls.

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PROVINCE:

‍Saskatchewan

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TOTAL SALES:

$11.7M CAD

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YOY SALES GROWTH:

46%

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AVERAGE BASKET:

$45.86 CAD

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COUNT OF BASKETS:

.2M

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BRAND CONCENTRATION:

N/A

The Washington cannabis market

Smokey Point Productions (SPP) introduced Regular - Candy Jack (3.5 g) into the market early February, which has already sold over $10K by the end of the month with an average item price of $11.33. SPP has grown its WA Flower sales 8.8% this February compared to February 2020.

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STATE:

‍Washington

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TOTAL SALES:

$117.8M USD

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YOY SALES GROWTH:

23%

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AVERAGE BASKET:

$34.97 USD

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COUNT OF BASKETS:

3.3M

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BRAND CONCENTRATION:

22%

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