Oregon’s commitment to transparency as they craft their legal cannabis industry can serve as a textbook for other jurisdictions when re-legalization reaches their street. Hail Mary Jane thanks BDS Analytics for keeping everyone up-to-date. Here’s a look at which products are selling along with dollar amounts.
Oregon’s nascent adult-use cannabis market showed relatively steady growth this year, from $12.5
million in January retail sales to $24.9 million in June, according to BDS Analytics, a firm that tracks retail sales of cannabis. With concentrates and edibles not legal for sale until June, the market relied on flower, pre-rolled joints, and a smattering of accessories to drive sales over the first five months of the year.
Before the June launch of concentrates and edibles, flower sales grew at a compound monthly rate of 15 percent per month and pre-rolled grew at a23-percent monthly rate. The two categories combined reached $21 million in May. But the introduction of concentrates and edibles in June shook up the market and those categories will continue to have a significant effect going forward. With combined June retail sales of $6.2 million, those two categories gobbled up 24-percent share, while flower fell from 85 percent share in May to 62 percent in June and pre-rolled dropped from 10 percent to 7 percent in the same period.
If other states are a guide, flower’s share of total sales will continue to decline even as actual sales of flower increase. Over Washington’s two years of legal adult-use sales, flower’s share declined from 87 percent to 61 percent. One notable distinction with Oregon, however, is the rate of decline in flower’s share. At 62 percent, Oregon flower dropped immediately to a level that Washington and Colorado took more than a year-and-a-half of steadily increasing concentrate and edibles sales to reach.
You can learn more about BDS Analytics HERE.
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