Sales growth in the Michigan cannabis market
Of all the markets we track, Michigan has grown the most of any US market this year. Between January and August 2022, total cannabis sales in Michigan grew 32.3%, while markets in the rest of the US grew 0.8% collectively. In July, Michigan had their biggest month of sales ever recorded at $210 million.
Many product categories in the Michigan market are seeing growth. Sales of Pre-Rolls, the fourth largest category in Michigan, have increased 79.6% when comparing total sales in the first eight months of 2022 with the same period in 2021. Beverages, one of the smallest categories, grew 254% over the same time period. Tinctures & Sublinguals are an exception, decreasing -23.3% YoY.
*This analysis looks at total sales between January 2022 and August of 2022 from CA, WA, OR, NV, FL, MD, IL, MI, MA, CO, AZ.
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.