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Total Cannabis Sales by Market for October 2023
We have some new markets in 2023, with Maryland and Missouri contributing to overall top-line sales growth for the legal marijuana industry. Michigan continues to close the gap on California cannabis sales, with California showing the most significant year-over-year decline.
For US cannabis sales in October 2023, Missouri (MO) stands out for its impressive performance in October 2023, where it reported higher dollar sales than Colorado (CO), a legacy marijuana industry known for its established sales history. This comparison is particularly noteworthy given the significant population difference between these two states. Missouri, with a smaller population compared to Colorado, demonstrates a remarkable market potential and consumer engagement, surpassing a state that traditionally has been a leader in sales. This trend underscores Missouri's market growth and potential, indicating a shift in consumer behavior and market dynamics. This analysis highlights the importance of considering not just total sales, but also the context of market size and population when evaluating market performance and growth potential.
In Canada, we see year-over-year marijuana sales growth for most of the provinces. Ontario emerges as a clear winner both in terms of total sales and growth, highlighting its dominance and rapid expansion in the market — primarily driven to its population density. This region not only maintained its lead in sales but also showed remarkable growth, outpacing other regions significantly. Conversely, Saskatchewan, while smaller in total sales, didn't show a substantial growth rate, indicating a more stagnant market condition.
Biggest Cannabis Brand Movers in October 2023
In October we saw a number of big winners, including Ozone in Michigan and Seed & Strain in Colorado, both growing over 100% year-over-year.
Cruisers, excelling in the Vapor Pens category, consistently ranks in California's top 15 brands. With a steady climb in sales from July's $1.3 million to October's $1.4 million, Cruisers’ solid performance and ranking improvement to 13th place in October highlight its strength and growing foothold in the competitive market.
Ozone is a Michigan-based cannabis brand known for its diverse and high-quality product offerings ranging from flower to vape carts. They position themselves as the choice for great smoke, catering to various preferences and occasions. Their rapid growth in sales, with an impressive 398.92% year-over-year growth. In the Michigan market, Ozone's ranking in the Flower category showed a significant improvement, moving from 22nd in July to 2nd in October 2023.
Gelato, a brand that's become synonymous with quality in California's cannabis market, has demonstrated remarkable growth, particularly in the Vapor Pens category. With a 90.93% year-over-year growth and consistent top 10 rankings from July to October 2023, Gelato's Vapor Pens have secured a strong market position, reflecting the brand's commitment to innovation, quality, and consumer satisfaction
General Category Trends
Flower still dominates the category, but it continues to lose overall market share % of sales by other growing categories, such as Vapor-Pens, Pre-Rolls and Edibles.
Cannabis drinks got a boost in October 2023, as the Beverage category saw a 25% year-over-year increase in Illinois, clocking in at $1.5M in sales, combined with a 55% year-over-year increase in Michigan coming in at just over $1M. Pre-rolls also expanded significantly in Michigan, with sales up 71% coming in at $46.8M or close to 17% of the total market there. Concentrates took the biggest hit in Colorado, with sales down 38% vs. 2022 resulting in $8.5M in sales vs. $13.6M the year prior.
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.