Here we highlight a few trends from recreational cannabis sales during the 2023 Labor Day weekend holiday, spanning from Friday, 9/1, to Monday, 9/4. The analysis consists of recreational cannabis sales in AK, AZ, CA, CO, IL, MA, MD, MI, MO, NV, NM, OR, & WA.
Across the United States, Labor Day weekend witnessed an 8.4% surge in average daily sales when compared to the average sales from the preceding four weekends. Sales increased from a typical weekend for each day during the holiday period. Friday saw the biggest increase at 15.2%, while Monday saw the smallest increase at 1.8%.
Every product category showcased a notable uptick in sales over the holiday weekend compared to the previous four weeks. It's worth highlighting that while Topicals and Beverages account for a smaller fraction of the overall sales, they enjoyed the most significant jumps in average daily sales with increases of 14.2% and 12.2%, respectively. Following them was the Flower category, which saw an uplift of 9.5%, and Edibles, which grew by 9.3%.
This Labor Day weekend also saw higher than average discounts. The average discount stood at 19.9%, notably higher than the 17.9% seen over a regular weekend. Delving deeper, Labor Day Monday offered the most generous discounts, averaging 20.9%. This figure is 21.2% higher than the discounts offered on a typical Monday. Saturday had the second-highest average discount at 19.2%.
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.