November cannabis sales up month-over-month

By Jensen Werley

BOULDER — Cannabis consumer sales in Colorado, Arizona, California, Oregon and Washington totaled $538.7 million in November, up slightly from the prior month, according to the latest Cannabis Retail Price Index and Consumer Sales Report from BDS Analytics. The Cannabis Retail Price Index — which uses January 2018 sales as its baseline at 100 — found that November had an index of 101.25 across all market segments. It was up 1.3 percent from January and up 2.5 percent from October. Compared with October, all major product categories recorded higher-than-average retail prices. Through its system, BDS is creating index pricing in all product categories. The data provides significant insights as flower becomes a commodity product and growth in cannabis is being driven by branded products. In November, flowers were the biggest selling product in Colorado, Arizona, California and Oregon (Washington topline sales are calculated separately and added to the breakdown of the other states to create the monthly total). Flower accounted for $179.2 million in consumer sales for November. Edibles and topicals, meanwhile, are seeing steady growth, with $76.1 million and $8 million in sales respectively. “Since the beginning of the year, edibles have seen rising prices thanks to the CBD trend,” BDS said in its executive summary of the data. “In January 2018, edibles containing CBD made up 17 percent of edible sales and by November that percentage increased to 25 percent. CBD is a functional ingredient that on average commands a 66 percent premium above non-CBD containing edibles.” In 2018, from January to November, there has been nearly $5.7 billion of cannabis products sold across Colorado, Arizona, California, Oregon and Washington.

The post November cannabis sales up month-over-month appeared first on BizWest.

Source:: BizWest

Related Articles