Happy New Years! We are so excited that it is 2022 and to celebrate, let’s take a look at the trends from New Year’s Eve. When we look at sales from 12/31 and compare them to the previous four Fridays, we saw that total sales increased by 8.9% in Canada and 6.0% in the US. In Canada, Saskatchewan had the largest increase in sales, up 12% over the previous four Fridays. In the US, Michigan had the largest increase, up 13.7%.
The cannabis categories that saw the largest increase in sales over the previous four Fridays in Canada were Tincture & Sublingual (+30%), Concentrates (+23%), and Beverages (+21%). The cannabis categories that saw the most increase in sales in the US were Beverages (+18%), Flower (+8.5%), and Concentrates (+7.8%).
Track cannabis sales and market performance
Key metrics defined
These six key metrics from the previous month will provide you with a pulse check on legal cannabis markets. Below, you'll find data on year over year growth, basket size, and more.
Total monthly sales for the previously completed month.
YoY Sales Growth.
Year over year growth of sales (For example, November 2022 compared to November 2021).
Avg Item Price
The average price of a cannabis item in the most recently completed month.
Avg Basket Size
The average size (in sales $) of a retail basket in the most recently completed month.
Median Store SKU Counts
The number of distinct SKUs sold in the median store in the most recently completed month. Median was used instead of an average to remove the effects of outlier stores.
Median store Like-Store-Sales-Growth MoM - The month over month growth in sales for the median sample store (for example, January 2022 vs. December 2021). “Like stores” are filtered to exclude any newly opened stores or recently disconnected stores.