Massachusetts leisure marijuana gross sales strategy $140 million

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After six full months of operations, Massachusetts adult-use marijuana gross sales proceed to rise, with combination gross sales approaching $140 million by means of the final week in Could.

The market loved a stable launch the week of Thanksgiving 2018, and Massachusetts retailers have seen common month-over-month gross sales will increase of 21% between December 2018 – the primary full month of gross sales – and Could 2019.

Common month-to-month gross sales so far are just below $23 million, with Could gross sales of $34 million by means of Could 29.

The state’s whole combination of $139 million comes from gross sales of greater than Three million items of cannabis merchandise, with common per-unit spending of $44.

As seen in different markets, uncooked flower comprised just below half of all greenback gross sales, with concentrates and infused merchandise – each edibles and nonedible merchandise (i.e., topicals) – collectively accounting for simply over 50% of gross sales.

Uncooked and infused pre-rolls, kief and shake/trim every represented lower than 1% every of greenback gross sales.

Massachusetts was the primary on the Japanese seaboard to legalize leisure use, and its retailers have been anticipated to learn from out-of-state site visitors from population-dense New England neighbors along with gross sales to native residents.

Analysts with Crain’s New York estimate that as much as 50% of adult-use gross sales in Massachusetts could also be coming from New Yorkers.

The just lately launched Marijuana Enterprise Factbook estimates 2019 leisure gross sales in Massachusetts will probably be within the vary of $450 million-$500 million.

Right here’s what else you’ll want to know concerning the scenario:

  • Over the last week of Could, common spending per buyer was $44.30. Common items bought throughout this era have been 29,140.
  • As of late Could, the Massachusetts Hashish Management Fee (CCC) had issued closing licenses to 58 retailers, 48 cultivators, 42 producers and three testing labs.
  • In late Could, the CCC voted 3-2 to approve a proposal that might launch a future social consumption pilot program in 12 volunteer communities throughout Massachusetts. Though this transfer has the potential to create new enterprise alternatives within the state, a agency timeline for the pilot program has not been set.

Maggie Cowee could be reached at [email protected]

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