Washington Cannabis Sales

Sep, 2024

Cannabis Market Data

Overview

Washington's cannabis market has shown a nuanced trajectory over the past two years. As of September 2024, the average item price in Washington has seen a slight decrease to $12.27 from $12.63 the previous month, reflecting a broader trend of price stabilization after a period of volatility. Total sales for September 2024 amounted to approximately $98.78 million, marking a 5.6% decrease month-over-month and a 4.9% decline year-over-year. This suggests a cooling off in the market, possibly due to market saturation or shifting consumer preferences.

Despite these challenges, the market has maintained a robust unit sales volume, with over 8 million units sold in September 2024 alone. The slight decrease in unit sales growth (-2.8% MoM and 2.3% YoY) indicates that while revenue is down, consumer demand in terms of quantity remains relatively stable. This could be indicative of price-sensitive consumers opting for lower-priced items or simply a redistribution of spending across different cannabis categories.

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$98.77M

Sep, 2024

Sales

-4.9 %

Year Over Year

Growth

Data Snapshot Oct 03, 2024

Market Comparison

When comparing Washington's market to other states, it's evident that WA's cannabis market is relatively mature, which may explain the slower growth rates. For instance, New York and Ohio have shown remarkable year-over-year growth rates of 368.1% and 106.5% respectively in total sales, attributed to recent market openings and regulatory changes. In contrast, mature markets like Colorado and California have seen declines in both sales and unit growth, similar to Washington.

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Washington Weed Prices

Flower (Gram)

$6.96

4.20%

Flower (Eighth)

$17.21

4.20%

Edible (10mg)

$11.62

4.20%

Concentrate (Gram)

$8.43

4.20%

Top Strain

Wedding Cake

| State | Average Price | Total Sales (Millions) | YoY Sales Growth | |-------|---------------|------------------------|------------------| | WA | $12.27 | $98.78 | -4.9% | | NY | $35.94 | $100.65 | 368.1% | | OH | $38.27 | $83.46 | 106.5% | | CA | $19.47 | $334.22 | -7.7% | | CO | $15.61 | $104.77 | -7.4% |

Data Snapshot Oct 03, 2024

Category Performance

Flower

29.59

-17.8

Vapor Pens

29.36

5.6

Pre-Roll

16.72

-1.9

Edible

10.66

16.6

Concentrates

6.61

-26.2

Beverage

4.1

34.0

Topical

0.94

6.8

Tincture & Sublingual

0.44

-24.1

Capsules

0.35

-14.6

Focusing on the Edibles category, it presents a contrasting trend compared to the overall market. In September 2024, the Edibles category saw a total sales of approximately $10.66 million with an average item price of $13.01, showing a 2.0% increase in sales and a 1.5% increase in units sold month-over-month. Year-over-year growth was also positive at 16.7% in sales and 25.1% in units, suggesting growing consumer interest in this category.

| Segment | Average Price | Total Sales (Millions) | Total Units Sold | |---------|---------------|------------------------|------------------| | Gummies | $13.50 | $6.5 | 481,000 | | Chocolates | $12.80 | $2.1 | 164,000 | | Baked Goods | $13.20 | $2.0 | 152,000 |

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Data Snapshot Oct 03, 2024

Top Cannabis Brands in Washington

Wyld

AiroPro

Smokiez Edibles

Hellavated

Cookies

Phat Panda

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Market Trends

Product Category Market Share In Washington

Monthly Cannabis Sales

Historical Cannabis Sales In Washington

Washington Cannabis Reports

Report

September 12, 2022

Understanding the recent sales declines in legacy cannabis markets

When we dig into the underlying causes of the overall cannabis sales declines in the US, we find some notable patterns contributing to the market retraction.

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