Cannabis sales across 15 states experienced a slight decline in May, according to the latest data from BDSA. Sales decreased by 0.3% compared to April, translating to a daily drop of 3.5%. Overall, the estimated total sales for May reached $2.13 billion, marking a modest year-over-year increase of 1.7%. However, when excluding the dramatic sales growth in New York, the total sales fell by 3.4% compared to the previous year.
Western Markets Overview In the western states monitored by BDSA—Arizona, California, Colorado, Nevada, and Oregon—year-over-year sales growth was negative in four out of five states. California saw the sharpest decline at 22.2%, while Nevada reported a slight increase of 0.1%. Notably, there was no sequential growth on a per-day basis in these markets during May.
Eastern Markets Performance In contrast, BDSA’s analysis of the eastern markets, which includes Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio, and Pennsylvania, showcased a wider range of results. Year-over-year growth varied from a decline of 5.2% in Illinois to an impressive increase of 890% in New York, which began reporting adult-use sales in January but had its first month of significant contributions in May. Ohio, which launched adult-use sales in August, also showed high growth figures.
Florida and Pennsylvania are strictly medical markets, and both experienced stagnant sales compared to the previous year. Florida had previously shown consistent growth until March but has since seen two consecutive months of declines, ultimately resulting in unchanged sales figures year-over-year.
Market Insights BDSA’s report highlights the ongoing challenges facing the cannabis industry, particularly in competitive markets like Florida. Despite an increase in dispensaries and unit sales, the competitive landscape is affecting overall sales performance. This trend underscores the importance of understanding regional market dynamics as competition intensifies.
For readers seeking detailed analytics and further segmentation by product categories, brands, and market attributes, BDSA Solutions offers resources for actionable data and analysis. The report emphasizes the need for industry stakeholders to stay informed about changing market conditions.
Alan Brochstein, founder of the online community 420 Investor and contributor to New Cannabis Ventures, provides insights into the evolving cannabis landscape. With a background in research and portfolio management, he continues to connect industry stakeholders and promote sustainable growth within the cannabis sector.
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