Wholesale cannabis marketplace, LeafLink, releases monthly reports about the wholesale cannabis industry. This data primarily consists of financial facts and figures, and gives you an idea of what the industry is doing, where it is headed, and what that means for your cannabis business.
We are looking at 2020’s October report, and the data basically shows what we have known all along. The cannabis industry is growing, thriving, and claiming its spot in the American economy at a rapid pace. LeafLink reported a 118% year-over-year (YoY) increase as measured by LeafLink’s Gross Merchandise Value. Gross Merchandise Value (GMV) is the total value of merchandise sold over a certain period of time, so in this case, January-September. LeafLink’s data is representing wholesale cannabis data from six key legal states: Nevada, California, Colorado, Oregon, Arizona, and Michigan.
Michigan’s YoY GMV increased by a whopping 342%, and out of these six states, it is the strongest escalation in GMV. LeafLink attributes this strong growth to the brand’s increase in order volume and value of the order. Oregon saw the biggest increase in overall transaction volume, and was reported to climb 4% in month-over-month (MoM) growth.
If you ask most people who are even a little bit familiar with cannabis supply and distribution, they’d likely tell you that flower generally leads the market. Like every single month this year on LeafLink’s report, cannabis flower led the marketplace and in fact, it has even grown its lead since January. Cannabis flower has remained at last 20% of all marketplace sales in 2020, going all the way up to 34.1% of sales in September of this year. Flower also gained the most shares on a national level, (+1.82 percentage points) from August to September 2020, which further proves the industry’s growth. Flower’s constant lead in the