One Western State is Performing Worse Than Oregon in This Challenging Year for Cannabis

Challenging Year for Cannabis: Although a recent analysis of the cannabis sector indicated that Oregon has had the largest decline in sales among mature legal markets in the Western United States, the situation may not be as dire as it seems.

One Western State is Performing Worse Than Oregon in This Challenging Year for Cannabis

According to the “Year in Review” report published by an industry tracker called Headset, sales in Oregon were down 13% in November year over year. This was a sharper decline than in the states of Colorado (down 11%), Washington (down 9%), California (down 8%), and Nevada (down 7%). (flat).

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But that’s only a glimpse of the months of November from the previous two years. When we take a larger perspective and use the most recent data that is available for 2022, we find that Colorado will suffer the most loss: According to figures kept by the state, retail sales in the Centennial State fell by 21.1% from January through October when compared to the same time in 2021.

One Western State is Performing Worse Than Oregon in This Challenging Year for Cannabis
One Western State is Performing Worse Than Oregon in This Challenging Year for Cannabis

Through the month of November 2022 sales in Oregon dropped by 16.4%, going from $1.095 billion to $915 million.

In Oregon, the fall in population may be attributed to stalled demand ever since the epidemic subsided and glut-driven price declines. It looks like a situation quite similar to this one is playing out in Colorado. When comparing the amount of money spent in each transaction to the total number of transactions, Headset discovered in its November snapshots that the amount of money spent in each transaction fell by a greater percentage.

According to what was said in the research, “This suggests that customers are spending less each trip to a cannabis merchant now than they were doing one year ago.” As a result of falling pricing, customers are receiving an increased value for their money.

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As for the other western states, the Seattle Times reported that sales in Washington declined by 8% in the fiscal year that concluded on June 30, 2018. This was a very minor dip, but it was the first decrease since sales began in 2015.

According to the statistics provided by the state, sales in the state of California dropped by 7.4% through the first three quarters of 2022, while sales in the state of Nevada dropped by 4% in fiscal 2022.

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