Cannabis Sales Accelerate in December – New Cannabis Ventures

A few weeks ago, we expressed concern about a sharp deceleration in cannabis sales during November. After reviewing data from BDSA for December in five mature western markets and 3 newer eastern markets, we conclude that the slowdown in November was not meaningful.

Western Markets

BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In December, growth ranged from 23% in Nevada to 42% in Oregon compared to a year ago. These were all higher than the year-over-year growth rates last month.


During December, Arizona medical cannabis sales totaled $91.6 million, which was up 6% from November and 30% from a year ago. Flower, the largest part of the market at 50%, grew by 29%. Concentrates grew 39%, while pre-rolls, a small part of the market, grew 62%.


Sales in California expanded 5% sequentially and 25% from a year ago to $314.2 million during December. Flower continues to be the fastest growing category, increasing 41% from a year ago and representing 39% of the market.


The most mature adult-use market, Colorado, continues to grow strongly. In December, sales increased 34% from a year ago and 3% sequentially to $194.2 million. Flower, at 43% of the market, grew 40% from a year ago.


The downturn in tourism appears to be weighing on Nevada, which grew just 1% sequentially and 23% compared to a year ago to $74.8 million. Flower, which represented 50% of the market, grew 43% from a year ago. Pre-rolls and edibles declined.


Sales in Oregon spiked higher, with the year-over-year growth rate well above recent months at 42%. During the prior four months, growth had ranged from 32% to 39%, while during May, June and July it ranged from 45% to 58%. At $96 million, cannabis sales increased 7% sequentially. Flower,

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