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Sales Trends

Cannabis Market Overview March 2020

Team Headset
March 10, 2020

Welcome to our monthly cannabis market overview.

We compile five, key metrics from the previous month to give you a pulse check on 10 legal cannabis markets. The quick read will present data on total sales, year-over-year growth, basket count, and more. You'll find a few shoutouts for brands & companies that achieved something impactful and interesting as well. We're starting with 10 markets for now, and are working hard to add more to the monthly overview throughout 2020.

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.


Let’s get into it…

The Alberta Market


STATE:
Alberta


TOTAL SALES:
$35.9M CAD


YOY SALES GROWTH:
Coming soon


AVERAGE BASKET:
$35.04 CAD

COUNT OF BASKETS:
1M

BRAND CONCENTRATION:
Coming soon

 


The British Columbia Market


STATE:
British Columbia


TOTAL SALES:
$23.7M CAD


YOY SALES GROWTH:
Coming soon


AVERAGE BASKET:
$38.79 CAD

COUNT OF BASKETS:
610.9K

BRAND CONCENTRATION:
Coming soon

 

The California Market

Kiva's Camino gummies have seen substantial growth in the last year, with notable success last month. Their Pineapple Habanero gummies (100mg pack) have grown from around $100k of weekly sales in early 2019 to over $300k in weekly sales.


STATE:
California


TOTAL SALES:
$270.3M USD


YOY SALES GROWTH:
74.3%

AVERAGE BASKET:
$55.42 USD

COUNT OF BASKETS:
4.8M

BRAND CONCENTRATION:
31.8%

 

The Colorado Market

Another shout out for a brand seeing success with gummies - Tastebudz’ premium gummies in February 2020 topped $3 million in sales. They retail for just under $18/package which is 7% higher than average.


STATE:
Colorado


TOTAL SALES:
$107.8M USD


YOY SALES GROWTH:
13.1%

AVERAGE BASKET:
$53.04 USD

COUNT OF BASKETS:
2M

BRAND CONCENTRATION:
19.8%

 

The Illinois Market


STATE:
Illinois


TOTAL SALES:
$27.7M USD


YOY SALES GROWTH:
96.1%

AVERAGE BASKET:
$111.45 USD

COUNT OF BASKETS:
248.5K

BRAND CONCENTRATION:
Coming soon

 

The Massachusetts Market


STATE:
Massachusetts


TOTAL SALES:
$53.6M USD


YOY SALES GROWTH:
195.7%

AVERAGE BASKET:
$84.73 USD

COUNT OF BASKETS:
632.6K

BRAND CONCENTRATION:
Coming soon

 

The Maryland Market


STATE:
Maryland


TOTAL SALES:
Coming soon


YOY SALES GROWTH:
Coming soon

AVERAGE BASKET:
$97.77 USD

COUNT OF BASKETS:
Coming soon

BRAND CONCENTRATION:
Coming soon

 

The Nevada Market

Old Pal is a brand familiar to most people that know the California market, but they're now making serious waves in Nevada. As the average item price of an ounce in NV falls (down this month to $91 compared to over $100 just a few months ago) it’s no wonder Old Pal is performing so well.


STATE:
Nevada


TOTAL SALES:
$52.3M USD


YOY SALES GROWTH:
18.8%

AVERAGE BASKET:
$55.96 USD

COUNT OF BASKETS:
935K

BRAND CONCENTRATION:
40.6%

 

The Oregon Market


STATE:
Oregon


TOTAL SALES:
$61.8M USD


YOY SALES GROWTH:
27.6%

AVERAGE BASKET:
$32.77 USD

COUNT OF BASKETS:
1.8M

BRAND CONCENTRATION:
Coming soon

 

The Washington Market

Note: Find the brand shoutout for Hellavated below the WA stats. We wanted to dig deeper into their success and share the analysis.


STATE:
Washington


TOTAL SALES:
$91.87M USD


YOY SALES GROWTH:
14.4%

AVERAGE BASKET:
$27.53 USD

COUNT OF BASKETS:
3.3M

BRAND CONCENTRATION:
30.2%

 

Hellavated, like many brands, was impacted from the effects of the vape crisis, especially since many of their products are flavored. Below you'll find a graph detailing their top selling product over a 12-month period - the Blueberry Dream Cartridge (Gram). Notice the decline in sales after Washington's flavor ban in the fall of 2019. After the flavor ban was lifted in early February 2020, you can see the Blueberry Dream Cartridge jumps up in sales and right back to its #1 spot in less than a month - quite the bounce back!

Note: Average Item prices are quoted before consumer paid taxes

Hellavated - Blueberry Dream Cartridge sales in WA

Major Legislation Impacts for WA

  • Back in October the Center for Disease Control (CDC) declared a state of emergency from the national outbreak of pulmonary illness linked to vaping. Governor Jay Inslee, The State’s Board of Health, and the State’s Liquor and Cannabis Board (LCB) banned flavored vape cartridges from the marijuana industry in accordance with the national outbreak.
    The LCB sent out an email January 23, briefing the rules going forward and the plan to re-implement flavored vape carts to the industry. The main points of the email are outlined below:
  • The State Board of Health emergency ruled temporarily banning flavored vapor products remains in effect through February 7, 2020. On February 8, 2020, retailers may legally sell flavored vapor products.
  • As of February 8, 2020, you no longer are required to post the warning sign about the severe lung injury.
  • The State Board of Health emergency ruled temporarily banning vapor products with vitamin E acetate remains in effect until March 19.
  • The Board is expected to withdraw all LCB flavored-vapor-product rules that are tied to the State Board of Health rules.
  • Marijuana Vapor Product Ingredient Disclosure forms are still required to be submitted by all producer/processor and processor licensees for each vapor product.

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