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Colorado Cannabis Sales
Jun, 2024
Overview
Colorado's cannabis market has experienced a notable shift in dynamics over the past year, with a decrease in average item prices and a contraction in total sales. In June 2024, the average item price in Colorado was recorded at $16.61, a slight increase from May 2024's $15.13 but still lower than the previous year's $18.32. This reduction in price accompanies a total sales figure of approximately $102.76 million for June 2024, reflecting a month-over-month decline of 1.1% and a significant year-over-year drop of 11.9%. These trends suggest a market adjusting to increased competition and possibly reaching a saturation point, affecting both pricing strategies and consumer spending behaviors.
Jun, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Colorado's cannabis market to other states such as California and Illinois, distinct differences emerge. For instance, California, with a total sales figure of $340.41 million in June 2024, shows a larger market size but a similar year-over-year sales decline of 8.5%. Illinois, on the other hand, exhibits growth with total sales of $168.45 million and a year-over-year increase of 3.1%. These comparisons highlight Colorado's unique position with a relatively smaller market size and a sharper decline in sales, suggesting potential market saturation or competitive pressures that are less pronounced in states like Illinois.
Colorado Weed Prices
Category Performance
Focusing on the Edibles category, it presents a contrasting trend compared to the broader market. In June 2024, Edibles achieved total sales of $19.03 million with an average item price of $14.41, showing a robust month-over-month sales growth of 16.9% and a slight year-over-year sales decline of 1.6%. This resilience in the Edibles market segment could be attributed to consumer preferences shifting towards more discreet and varied consumption methods.
Top Cannabis Brands in Colorado
Product Category Market Share In Colorado
Historical Cannabis Sales In Colorado
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