The Department of Consumer Protection (DCP) unveiled new preliminary figures today, indicating that the month of August witnessed an impressive combined sales of almost $25 million in both the adult-use cannabis and medical marijuana sectors.
The figures showcased that the adult-use cannabis market recorded an astounding $14 million in sales during August. This is particularly significant considering that sales in this market only commenced on January 10, 2023. Meanwhile, the medical marijuana sector didn’t lag too far behind, accumulating almost $11 million in sales for the same period.
Breaking down the data further, medical marijuana patients purchased a total of 278,395 products throughout August, with adult-use consumers purchasing a slightly higher number at 354,700 products. When it comes to the average product price, the numbers for both markets are remarkably close. Medical marijuana patients spent an average of $39.36 per product, while the adult-use market saw an average product price of $39.49.
As for the type of cannabis products sold, usable cannabis, commonly referred to as flower, dominated the sales charts, constituting 52% of total sales. Vapes weren’t too far behind, accounting for 30% of sales. Edible products made up a relatively smaller portion, making up 11% of the sales.
It’s important to note that these figures were diligently recorded through the state’s Seed-to-Sale Tracking System. However, the DCP does not project future revenues, set sales targets, manage tax collections, or influence prices.
Moreover, this preliminary data has not taken into account the taxes garnered from the point of sale on adult-use transactions. It is also noteworthy that medical marijuana patients are exempt from paying taxes on their purchases.