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Michigan Cannabis Sales
Mar, 2024
Overview
Michigan's cannabis market is experiencing consistent growth, with total sales reaching $284.56 million in March 2024, a 9.0% month-over-month increase and a 14.0% year-over-year growth. The average item price in March 2024 was $11.92, reflecting a slight decrease from the previous month, indicating a competitive pricing environment. Over the past two years, the market has seen a general upward trajectory in sales, with notable spikes in consumer demand during certain months.
The market's expansion is supported by a diverse range of product categories, each with its own growth patterns and consumer preferences. Michigan's cannabis market has managed to attract a substantial consumer base, with total units sold in March 2024 reaching nearly 23.9 million, an 11.7% increase from the previous month. This robust performance underscores the state's potential as a leading cannabis market in the country.
Mar, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Michigan to other states, it stands out for its significant market size and growth rates. For instance, Michigan's total sales in March 2024 were higher than those of Colorado, a well-established market, which reported $107.59 million in sales. Michigan's year-over-year sales growth of 14.0% also outpaces Colorado's -12.1%, showcasing Michigan's rapid market expansion.
Michigan's average item price is one of the lowest among these states, which may contribute to its high volume of units sold. The state's competitive pricing and strong growth metrics suggest a healthy and expanding market.
For a more detailed analysis or to explore other categories and segments, consider leveraging Headset Insights.
Michigan Weed Prices
Category Performance
The Pre-Roll category in Michigan has shown a remarkable trend, with the "Connoisseur / Infused" segment standing out. In March 2024, this segment achieved a total sales of $30.15 million and sold nearly 3 million units, boasting a 15.4% month-over-month sales growth and a staggering 219.6% year-over-year unit growth. The average item price was $10.19, indicating a preference for premium, value-added products among consumers.
Top brands in this segment include Jeeter, STIIIZY, and Cali-Blaze, with Jeeter leading the segment with $5.20 million in sales for October 2023.
Top Cannabis Brands in Michigan
Product Category Market Share In Michigan
Historical Cannabis Sales In Michigan
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