Sales Trends

Cannabis Market Overview April 2020

Team Headset
April 10, 2020

Welcome to our monthly cannabis market overview.

You may notice we're reporting on four markets in this month's Cannabis Market Overview (CMO) versus our standard 10 markets. The world is a weird place right now. We know we don't have to tell you that, but Covid-19 policy changes continue to impact legal cannabis markets in different ways. Accuracy and quality data are two things Headset will never sacrifice and we've decided to hold the projections for a handful of markets in order to ensure you have the truest info at hand. With that, we've got the latest numbers to show you - let's jump in!

Metric Definitions

  • Total sales = the total amount of sales for the month.
  • YoY sales growth = calculates the percentage change in total sales from the same month last year.
  • Basket count = is the total amount of transactions for the month.
  • Average basket = total revenue divided by the total number of transactions.
  • Brand concentration = is the % of the market that the top 10 brands make up (in terms of sales dollars). EX: in CA in Dec 2019 the top 10 brands held 32% market share.

The California Market

This month, the Vapor Pen category had steady growth, driving a good chunk of Raw Garden’s sales. The brand saw three consecutive weeks of over $6 million in Vapor Pen sales with an average item price of $43 for a cartridge.


STATE:
California


TOTAL SALES:
$318.9M USD


YOY SALES GROWTH:
77.7%

AVERAGE BASKET:
$62.84 USD

COUNT OF BASKETS:
5M

BRAND CONCENTRATION:
32%

 

The Colorado Market

Wana’s Sativa Sour Gummies (100mg) saw significant sales growth this month with over $224k in sales within the second week of March. This product alone brought in 11% of the brand’s total sales.


STATE:
Colorado


TOTAL SALES:
$131.5M USD


YOY SALES GROWTH:
15.1%

AVERAGE BASKET:
$60.16 USD

COUNT OF BASKETS:
2.1M

BRAND CONCENTRATION:
21%

 

The Nevada Market

After only recently entering the NV market in September 2019, Old Pal’s top selling product, Fire OG (Ounce), hit a new sales record with more than $1M in sales last month contributing to more than 25% of brand’s total sales. This aligns with the patterns of sales growth among larger Flower package sizes that we have reported on in our COVID-19 blog (updated daily).


STATE:
Nevada


TOTAL SALES:
$56M USD


YOY SALES GROWTH:
1.1%

AVERAGE BASKET:
$63.99 USD

COUNT OF BASKETS:
875K

BRAND CONCENTRATION:
41%

 

The Washington Market

Heylo recently launched a new cannabis infused hand sanitizer, HIGHGIENE to help cannabis users combat COVID-19. This product is a 2:1 THC-CBD full spectrum cannabis infused hand sanitizer with 100mg of cannabinoids per bottle and 65% alcohol. In addition, Heylo is donating 5% of sales from this product to the Seattle Foundation.


STATE:
Washington


TOTAL SALES:
$113.5M USD


YOY SALES GROWTH:
25.4%

AVERAGE BASKET:
$32.44 USD

COUNT OF BASKETS:
3.4M

BRAND CONCENTRATION:
29%

 

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