Colorado cannabis dispensaries saw April retail sales surge 58 percent over April 2015 to reach $117 million according to Boulder-based BDS Analytics, a firm that tracks retail cannabis sales nationwide. That smashed the previous monthly record of $101 million set last December. The adult-use or “recreational” channel rose 81 percent to $77 million, while medical outlets climbed 28 percent to $41 million.
A massive snowstorm that dropped 1 to 4 feet of snow on the state April 15-18 failed to suppress Colorado consumers’ enthusiasm for 4/20. The week culminating in that iconic, unofficial pot holiday reached $34 million in retail sales, a 44 percent increase over the same period one year earlier. April 20 itself garnered $7.3 million, crushing the previous daily record of $6.1 million set on the tax holiday of September 16, 2015, and rising 53 percent over April 20, 2015.
Every significant category contributed to April’s robust growth, with retail dollars and units sold rising substantially across the industry. Edibles rose 83 percent over last April to $13 million, flower grew 38 percent to $67 million, and concentrates reached $27 million on a red-hot 133 percent growth. Concentrates’ share of dollars sold rose from 15 percent last April to 23 percent this April. All of that share was stolen from flower, which declined from 66 percent to 58 percent over the same period.
As concentrates’ popularity has grown, their average retail selling price moved in the opposite direction, dropping 20 percent in the adult-use market since April 2015 to $31.93 per gram. By contrast, flower prices dropped just 2 percent in adult-use outlets, landing at $8.25 per gram this April. Edible prices dropped 4 percent. There were similar trends in the medical channel with the exception of edibles, the average selling price of which rose 5 percent.
April’s phenomenal growth pushed Colorado’s year-to-date retail revenue to $388 million, a healthy 37 percent increase over the same period last year. Year-to-date category and price trends were similar to those in April, with concentrates leading dollar growth at 124 percent.
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Soure: BDS Analytics - Relying upon powerful technologies, partnerships with cannabis companies and a team of data veterans, BDS Analytics provides the cannabis industry with the most precise, reliable and sweeping data analysis in the marketplace. For most companies competing in the blossoming world of commercial cannabis, BDS Analytics‘ GreenEdge™ service offers vital business information — essential intelligence for marketplace success.
