Here at DIZPOT, we believe that staying informed and ahead of the curve is an absolutely vital part of what makes us such a force in the Cannabis Packaging Industry. Our ears are constantly open to exciting new options and ideas, but we would be at fault if we did not take this same proactive approach to understand the retail climate of the Cannabis Industry as well. That’s why we are proud to present our supporters with a recap of Cannabis sales for the month of February in the state of Arizona. This information was provided to us by GreenEdge, a retail analytics and tracking platform implemented in cooperation by the NCIA and BDS analytics. For a comprehensive summary of their information, please read on!
Cannabis sales in Arizona for the month of February was $50.7 Million combined. This figure is roughly ten-percent higher than that February 2018.
Flower sales, which are categorized by loose bud and pre-roll sales, accounted for 42% of all products sold, with $21.4 and $1.9 million in revenue, respectively. These numbers were both smaller than January ’19 revenue figures, with flower being down 1%, and pre-rolls coming in a whopping 10% lower in February. Since last year, both categories are down 6% and 7% in revenue numbers, but we’ll see if monthly sales pick back up with the warmer weather. Lighting joints in the cold is no fun!
Concentrate sales have risen 5% since last January, accounting for $19.6 million in revenue across all categories (Vape, Shatter, Live Resin & Wax). Vape sales accounted for $14.5 million, nearly 75% of all concentrates sold in February, which was a 4% increase in revenue over January. Vape sales since Jan. ’18 have increased 35%, but that wasn’t the sharpest increase in sales we saw in the concentrates category. Live Resin sales are garnering 75% more revenue than they did in Jan ’18, with a sizeable 16% increase since January ’19 alone! The only category of concentrate sales experiencing any sort of decline is that of Shatter, which is up 6% from Jan. ’19, but has dipped about 15% overall from January ’18 figures. In summation, concentrates are the fastest-growing sector of Cannabis sales by a longshot.
Edibles, which is candy, drinks, pastries, tinctures, and other infused foods accounted for $6.3 million in sales in February, a 27% increase since last year. However, all categories of edibles have seen as much as a 10% decline in revenue figures since last January. The only category that didn’t see a loss was candy, which broke even at $3 million in sales.
Topicals was the last category to round out our analytics report with a relatively small sales figure of $508 thousand for February, a 1% increase since January. Topicals are a relatively new foray in the Cannabis market, but with a 23% increase in revenue in the past year, our bet is these numbers will get much higher. Topicals are the next frontier for Cannabis sales, and it will be interesting to see how the other categories will be affected as more Cannabis-infused topicals make their way to market.
How has the long winter and subsequent warming of our great state affected Cannabis sales? Will topicals sales surge as Phoenicians scramble to find new, innovative cures for sunburns? Will concentrate sales fall as AZ stoners get peeled away from their dab rigs and into the inviting sunshine? Only time will tell, so stay tuned for next month’s BDS Revenue Recap!