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California Cannabis Sales
Apr, 2024
Overview
The California cannabis market remains a substantial segment of the industry, with sales reaching $358.69 million in April 2024. Despite a slight month-over-month decline of 1.6%, the market showcases resilience with a modest 0.3% increase in unit sales, indicating a stable consumer base. However, the year-over-year figures paint a different picture, with a 7.1% decrease in sales and a 2.6% increase in unit sales, suggesting a shift in consumer spending habits, possibly towards more affordable options or smaller purchase sizes. The average item price in April 2024 settled at $20.12, reflecting a slight dip from the previous month, aligning with the broader trend of price sensitivity among consumers.
The market's dynamics are further underscored by the varied performance across categories. While some categories like Beverages and Pre-Rolls have seen month-over-month sales growth, others such as Flower and Tincture & Sublingual have experienced declines. This mixed performance indicates a market in flux, with consumers' preferences and spending power dictating the success of different product types.
Apr, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing California to other states, it's evident that the market size is significantly larger, with April 2024 sales dwarfing those of states like Colorado and Washington. However, California's year-over-year growth rate lags behind states like Maryland, which saw an astonishing 135.4% increase in sales, and Michigan with a 14.4% increase. This suggests that emerging markets are experiencing rapid expansion, while more mature markets like California are facing challenges in sustaining growth.
California's average item price is higher than Michigan's, which may contribute to its slower growth rate. Maryland's significant growth and high average item price suggest a market with strong demand and less price sensitivity.
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California Weed Prices
Category Performance
The Flower category, a cornerstone of the cannabis market, has seen a year-over-year sales drop of 11.3% with a corresponding 11.0% decrease in units sold in April 2024. The average item price has remained relatively stable at $29.15. A closer look at the segment level reveals a nuanced landscape:
Hybrid strains, despite a slight month-over-month sales decline, dominate the Flower market in sales volume. Indica, on the other hand, has shown a notable increase in sales, suggesting a shift in consumer preference or promotional activity.
In October 2023, the top brand in the Hybrid segment was CannaBiotix (CBX), with total sales of approximately $4.51 million and an average item price of $45.59. Other notable brands include West Coast Cure and Fig Farms, highlighting the competitive nature of the market.
Top Cannabis Brands in California
Product Category Market Share In California
Historical Cannabis Sales In California
California Cannabis Reports
Understanding the recent sales declines in legacy cannabis markets
Early Market Trends: California 2018
California Cannabis News
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