Missouri Cannabis Sales
Aug, 2024
Overview
Missouri's cannabis market has shown a consistent growth pattern, with a year-over-year sales growth of 2.3% and a significant increase in unit sales by 28.9% as of August 2024. The average item price in Missouri has seen a slight decrease from $26.82 in July 2024 to $26.65 in August 2024. This pricing trend, coupled with the growth in unit sales, suggests a robust consumer demand that is responsive to slight price adjustments. The market size, as indicated by total sales reaching approximately $121.78 million in August 2024, positions Missouri as a significant player in the cannabis industry within the region.
Aug, 2024
Sales
Year Over Year
Growth
Market Comparison
Comparing Missouri to other states, it's evident that Missouri's market dynamics are distinct. For instance, New York shows an extraordinary year-over-year sales growth of 340.7% with total sales of approximately $75.79 million, which is significantly lower than Missouri's despite the higher growth rate. This indicates that Missouri's market is more mature and stable. In contrast, states like Michigan, with a lower average item price of $10.94, have higher total sales of approximately $286.40 million, suggesting a larger consumer base or more frequent purchases at lower price points. This comparative analysis highlights Missouri's position as a market with high growth potential and consumer engagement compared to its peers.
Category Performance
The Flower category in Missouri, with total sales of approximately $55.83 million in August 2024, demonstrates a unique trend compared to the overall market. Despite a slight month-over-month sales decrease of 0.1%, the year-over-year growth in unit sales is substantial at 33.5%. This suggests a growing consumer preference for this category, despite the average item price increasing from $29.57 in July 2024 to $30.46 in August 2024. To further understand market dynamics within this category, examining segment sales and top brands will provide deeper insights.