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Washington Cannabis Sales
Mar, 2024
Overview
The Washington cannabis market presents a landscape of steady consumer demand with nuanced shifts in pricing. As of March 2024, the average item price has seen a slight decrease to $12.82, compared to the previous month, while total sales reached $103.63 million with an 8.1% month-over-month growth. However, the market has experienced a slight contraction of 3.5% in year-over-year sales growth, indicating a potential plateau in market expansion or shifts in consumer behavior.
Despite these fluctuations, the market's resilience is evident in the 9.6% month-over-month increase in total units sold. This suggests a stable consumer base with potential for growth in specific categories that may offer unique value propositions or innovative products.
Mar, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Washington to other states, it's evident that the market size varies significantly. For instance, California's market size towers at $364.56 million in sales, whereas Washington's sales are at $103.63 million. Maryland shows an impressive year-over-year sales growth of 140.2%, a stark contrast to Washington's -3.5%. The average item price in Washington is one of the lowest at $12.82, compared to states like Illinois, where the average price is $32.49.
The growth rates also present a mixed picture. Michigan and Oregon have seen substantial year-over-year growth of 14.0% and 12.4%, respectively, while Washington's growth remains negative. This suggests that while Washington's market is mature, other states may be experiencing phases of rapid expansion or benefiting from recent legalization.
Washington Weed Prices
Category Performance
The Edibles category, particularly Gummies, stands out with a divergent trend compared to the overall market. In March 2024, Gummies experienced a significant 18.2% month-over-month sales growth and a remarkable 17.6% year-over-year sales growth. The average item price for Gummies settled at $15.30, with total sales amounting to $6.80 million and 444,495 units sold.
Top brands in the Gummies segment include Wyld, Craft Elixirs, and Journeyman, with Wyld leading the segment with $1.99 million in sales for March 2023. These brands have successfully captured consumer interest, contributing to the segment's growth. For a more granular analysis of consumer preferences and brand performance, Headset Insights can provide an in-depth exploration.
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Product Category Market Share In Washington
Historical Cannabis Sales In Washington
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