The total U.S. economic impact generated by regulated marijuana sales could top $112.4 billion in 2024, about 12% more than last year, according to analysis from the newly released MJBiz Factbook.
MJBiz Factbook: Marijuana industry will add $112.4 bill…
Author: Kate Robertson
Adult-use marijuana basket composition highlights consumer buying trends in 2020
Many adult-use marijuana shoppers would rather stick with one type of product, such as flower or vape pens, when at the store than bring home a variety of cannabis goods, according to an analysis of customer basket compositions from 2020. Understanding…
Marijuana consumers return to pre-pandemic shopping hours, favoring evenings versus the daytime
As the COVID-19 pandemic disrupted work, school and life schedules, it also caused marijuana buyers to change when they shopped, shifting from the evening hours to the daytime. A year later that pattern is returning to normal, with more shoppers visiti…
Arizona adult-use cannabis sales hit $2.9 million during initial 10 days
Adult-use cannabis sales in Arizona reached $2.9 million in the first 10 days that sales were permitted, according to figures released by the state. Recreational sales in Arizona began Jan. 22 after 73 of 130 licenses were approved by the Arizona Depar…
Oklahoma’s medical cannabis dispensary licenses decline for the first time
Retail licenses for Oklahoma’s medical cannabis program declined 8% in 2020, the first contraction for the open-license market since MMJ sales began in 2018. Despite surging sales and patient numbers, Oklahoma ended 2020 with 181 fewer retail licenses …
Marijuana cultivators should rethink how they measure water use, new report says
As demand for water increases and the supply remains limited, marijuana cultivators might need to change the way they think about and measure their use of this precious resource, according to a new report compiled by three organizations. Early efforts …
Genetic editing offers marijuana and hemp companies a way to improve plant strains
The development of new genetic-editing technology offers cannabis companies a cost-effective way to make specific changes to marijuana and hemp plants – such as more disease resistance – without creating a genetically modified organism (GMO…
Retail prices for recreational marijuana flower rise in response to record demand amid pandemic
The average retail price for smokable recreational marijuana products in four Western states continued to increase throughout the coronavirus pandemic, thanks to record demand. Retail flower prices in California, Colorado, Nevada and Washington state c…
Nevada’s cannabis industry lacks diversity, especially in ownership, survey shows
Nevada’s first official demographic survey of cannabis businesses shows that women and minorities account for a smaller percentage of the local marijuana industry versus their overall representation in the state – especially when it comes t…
Cannabis basket-size data highlights differing consumer spending patterns across state markets
While U.S. cannabis markets might appear similar on the surface, each is driven by different consumer spending habits – and it is critical for marijuana manufacturers and retailers to understand these patterns as they develop and sell products fo…