Green Market Report’s Post

The Illinois Department of Financial and Professional Regulation announced today recreational cannabis sales totals for September 2024.   For the time in seven months, monthly totals dipped below 140 million, hitting the third-lowest total in 2024 at $136,508,866.78.   Since 2020, August and September months (and even October) have reached similar monthly totals.   The largest decrease in monthly sales totals usually occurs between the months of December to January and January to February.   https://lnkd.in/gFYXjMB8

Massachusetts just hit a major milestone: $7 billion in cannabis sales, with a staggering $5.81 billion of that coming from recreational cannabis since its introduction in late 2018. But while sales are up, prices are way down. In February alone, the state saw $127 million in adult-use sales and $16.2 million from medical sales. However, the average price dropped from a high of about $15 per gram to just over $5. This is a double-edged sword: While price drops mean that marijuana is more accessible for people than ever, it means that fewer dollars are making their way into cash registers. Even more concerning, the average discount on recreational cannabis products in nine states has doubled in the last five years, jumping from 7% in 2017 to 15% in 2022. Some states, like Nevada, offer 20% or more off, according to Happy Cabbage Analytics. As a cannabis retailer, you know this business model isn’t sustainable. But what choice do you have with little customer loyalty and continued marketing channel limitations? There is another way: HighRewards. We flip the traditional cannabis marketing plan with a pay-per-performance model that builds brand loyalty with gamification and maximizes your marketing budget. Customers earn points every time they step into your dispensary and more for buying product and interacting with the app regularly. These points can be cashed in for gift cards to major retailers. It’s a win-win situation: They earn real money for using the app, your dispensary gets more foot traffic—and 24/7 exposure to high-value customers—and you only pay when they enter your door. #marijuana #dispensary #cannabisbusiness #cannabis #massachusetts #retailnews #marijuanaindustry

Ohio's adult-use cannabis market is showing impressive growth, with sales approaching $90 million in only 7 weeks. Key takeaways: • 10,213 lbs of flower and 1.3M+ units of manufactured products sold • Prices are trending downward for both flower and manufactured goods • Over 120 dispensaries now have dual-use certificates What do you think this means for the industry's future in Ohio?

*Michigan has the highest per capita sales in the U.S. at $132.41, according to data provided by Headset, which is about triple California's $44.21 per capita sales. *Not only is this data notable considering that Michigan's recreational cannabis industry is younger than California's industry, but also because Michigan's population is about a quarter of the size of California's population. https://lnkd.in/geK9ZBBs

#Colorado’s cannabis sales have continued their downward trend, with the latest official figures showing the largest year-on-year drop this year in June. This looming cloud did have a minor silver lining, however, with sales total sales in June of $113.7m rising marginally from May’s $113.1m. Despite this slight month-on-month respite, each month of 2024 has seen a year-on-year decline in total sales (medical and adult-use) compared to the same month in 2023, with the most significant drop occurring in June 2024, where sales decreased by 13.3%. In the six months to June, 2024, medical sales decreased by approximately 5.8%, while retail sales dropped by about 11.2%. https://lnkd.in/eGVjztbU

The Illinois Department of Financial and Professional Regulation today announced recreational cannabis sales totals for October 2024. After a dip in sales in September ($136,508,866.78), October sales bounced back closer to the average at $142,251,704.01. Illinois’ yearly sales totals have increased each year since legalization (2020-2023) and are again on track to surpass 2023 totals of $1,634,983,542.79 for a new record high for 2024. https://lnkd.in/gE6--s2H Michael Lasley Illinois Department of Financial and Professional Regulation

Ever wondered if marijuana edibles spoil over time? 🍪🌿 Dive into the intriguing world of cannabis-infused treats and their shelf life. Here are some key takeaways from the latest read on cannabis.net: - **Check the Ingredients:** The lifespan of edibles depends on factors like the starting material, manufacturing process, and presence of preservatives. - **Check Expiry Dates:** Consult the best-before date on packaged edibles, but remember that cannabinoids like THC and CBD don't spoil conventionally; they degrade over time. - **Cannabinoids Degrade But Don't Go Bad:** THC can transform into CBN with age, affecting potency and effects. Proper storage is crucial for maintaining efficacy and longevity. - **Tips for Effective Storage:** Store edibles in a cool, dark place to preserve freshness and potency. Keep them locked away to prevent accidental access. What are your thoughts on the spoilage and potency of marijuana edibles? Share your insights below! 🌱💬 #CannabisCommunity #Edibles #ShelfLife #CannabisProducts https://lnkd.in/gFZhAj7p

These charts show the breakdown of California cannabis sales up to the end of 2023. The interesting part is the sales by Item, showing Flower remains dominant. However, sales of Vapes, Edibles and Extracts are far higher than they are in the medical market. For instance, in UK & Australia it's generally accepted Flower makes up to 80% of volume. But compare that to the 'open' market found in California. Given a free choice, 43% of consumers choose non-flower products. In fact, nearly a quarter choose vaping, presumably using 5/10 carts. Prescriptions of these alternative formats are still very low in Europe & Australia. Some forms, such as pre-rolls and extracts, are still not available to patients, although it's generally accepted pre-rolls will never be considered 'medical' (despite the fact most people will still combust Flower). This means there is still a considerable way to go for medical suppliers and plenty of opportunity for new cannabis formats.

5 Things to Know Before You Set Your Foot in Any Chicago Weed Dispensary Those days are gone when sourcing cannabis in Chicago was a tedious task. Since the legalization of cannabis by the state of Illinois in 2020, numerous cannabis dispensaries have popped up in the different neighborhoods of Chicago, including the Nuera Wicker Park. With a population of 26000, Wicker Park is home to some of the famous, top-notch weed dispensaries. Despite the rising awareness and acceptance of cannabis, sourcing your weed from a dispensary is still an overwhelming experience for many. People often find themselves riddled with the various cannabis jargon and have a poor weed buying experience. To help you buy high-quality cannabis, here are five things you need to know before stepping inside any weed dispensary in Chicago. Know what you want There are hundreds of strains and varieties of cannabis available across dispensaries. They have different content of CBD and THC, ...read more https://lnkd.in/gk248Upv

The legalization of marijuana for non-medical use in Canada has had a substantial impact on the economy, consumer behavior, and even the cultural landscape. One particularly fascinating insight from a recent Canadian study is that it has been “associated with an immediate decline in beer sales,” according to researchers from the University of Manitoba, Memorial University of Newfoundland, and the University of Toronto. This unique trend showcases a consumer behavior anomaly directly stepping from the changes in the legal landscape of cannabis.