Chronic Boom: Cannabis Sales In Colorado Shatter Previous Benchmarks

Colorado cannabis dispensaries continued to roar ahead this year, generating $181 million in January and February, a 36 percent increase over the same period in 2015.

Year-over-year sales boosts in any industry is something to celebrate, and these cannabis increases are dramatic. Time to celebrate? You bet it is.

According to data provided by Boulder-based BDS Analytics, a firm that tracks retail cannabis sales from point-of-sale data and provides market trend data to dispensaries, grows, and producers, the greatest contributors to growth were concentrates, up 101 percent to $41 million, and infused edibles, which rose 58 percent to $20 million. Flower gained 19 percent to gross $105 million.

Although flower still dominated market share with 58 percent of all cannabis sales, its relatively slower growth rate brought shares down from 66 percent in January and February 2015. Concentrates gobbled up that space, rising from 16 percent last year to 23 percent this year. The category differences are even starker in unit and price terms. Flower sales by the gram rose just 10 percent, while concentrate packaged units rose 128 percent. The average retail selling price per gram of flower rose 9 percent to $7.39 in the last year, while concentrate prices fell 12 percent to $30.82 per packaged unit.

Shatter, prefilled cartridges, and wax accounted for 68 percent of concentrate sales this year, and together their price grew 127 percent over January and February 2015. A variety of brands drove concentrates’ tremendous growth. BDS Analytics’ data shows 76 brands with concentrate sales in Colorado dispensaries year-to-date through February 2016, up from 49 brands one year ago. The top-selling brand grew 175 percent from last year to claim 13 percent of concentrates’ market share. Five of this year’s top 20 concentrates brands had no sales last January and February. Of the 15 brands that did have sales last year, 11 saw at least triple-digit growth this year.

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