Cannabis Sales Decline in May

New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 15 states.

Cannabis sales decreased 0.3% sequentially in May, which was a decrease on a per-day basis of 3.5%. In this review, we share the results by state, beginning with the western markets and then concluding with the eastern markets. In total, BDSA estimates that sales across the 15 markets totaled $2.13 billion during May, which was up just 1.7% from a year ago. Excluding the large gain in New York, which I explain below, sales fell 3.4%.

Western Markets

BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In May, year-over-year growth was negative in all 5 states except for one, with the annual growth rates ranging from -22.2% in California to 0.1% in Nevada. Growth rose sequentially  on a per-day basis in none of these states.

Eastern Markets

BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. In May, year-over-year growth ranged from -5.2% in Illinois to +890.0% in New York, which had its adult-use sales included by BDSA beginning in January but first included last month. Ohio began adult-use in August and was quite high in growth. Note that Florida and Pennsylvania are medical-only markets. Sequential growth was negative  four markets and fell in all markets on a per-day basis.  The annual growth was meager except in three states. We have been warning about Florida potentially slowing despite the strong growth in dispensaries and in unit volumes due to competitive pressure, and it was unchanged from a year ago after two straight monthly declines. The state had never seen a decline until March.

For readers interested in a deeper look at cannabis markets across these fifteen states and more, including segmentation by additional product categories, brand and item detail, longer history, and segmentation by product attributes, learn how BDSA Solutions can provide you with access to actionable data and analysis.

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