sales Archives - Green Market Report

StaffApril 20, 2021
Head-shot-phots-1-2--scaled.jpg?fit=1200%2C1504&ssl=1

3min15530

Ave Miller is a veteran sales and account manager that has been in retail management, retail sales for 7+ years and the cannabis retail sales space for 2.5 years. Ave transitioned into the cannabis space in 2017 and was one of the original members of the Select Oil California Launch. During this time he learned all aspects of the cannabis vape industry and was immediately placed into a management role and was head of manufacturing and Fill production. Shortly thereafter, Ave transitioned to being Assistant manager of supply chain and curating relationships with 100+ growers in the state. Ave Co-Founded Fly Beverage Co in January 2020 and has been instrumental in the early market traction the company has seen to-date.

 

GMR Executive Spotlight Interview Q & A:

 

Full birth name: Ave Benjamin Miller

Title: Chief Global Sales Officer

Company: Fly Beverage Co.

Years at current company: 1 year and 3 months

Most successful professional accomplishment before cannabis: Named top performing  store manager for the western region of Zumiez, INC, a specialty clothing store for their annual holiday sales contest. When I arrived at the store it had experienced a loss of 10% per year for the previous seven years.  By focusing on the details, and developing strong relationships with customers and staff,  sales increased  by 27%!

Company Mission: Providing affordable and accessible cannabis to the masses

Company’s most successful achievement: Developed relationships resulting in product placement at nearly 200 California dispensaries  expanding into 23% of the dispensaries in  California in less than 12 months.

Has the company raised any capital (yes or no), if so, how much?:  Yes! We are on a bootstrapped start-up budget and have raised around 750K our money through friends and family.

Any plans on raising capital in the future?  Yes, we are raising funds for expansion and are looking to raise another 2 million dollars.

Most important company 5 year goal:  Scaling into every market in North America, Israel and globally with healthy growth and  sales and sustainable strategic partners.

 


Kaitlin DomangueApril 15, 2021
headset.jpg?fit=640%2C427&ssl=1

6min22300

Cannabis data and analytics company, Headset, announced the launch of a report highlighting a long-term forecast into the U.S. and Canadian cannabis markets! Specifically, forecasting the sales, sales volume, and market shares for 2021 and 2022 compared to 2020. 

The cannabis industry during 2020

The cannabis industry held their breath last year when COVID-19 hit. We fully expected to see a dramatic impact on businesses, and at our worst: expected to get shut down and deemed non-essential. For the most part, that didn’t happen and many local governments declared cannabis businesses to be essential. We collectively breathed a sigh of relief, but many physical storefronts were damaged in some of the riots over the summer, forcing some stores to close briefly. Despite that, the industry trudged forward and kept it moving, seeing the end of 2020 and welcoming a hopefully very different 2021. 

Headset’s methodology for this report

Headset says: “These forecasts will include all 13 Canadian provinces and territories and 36 US states* with any level of legalization and across all markets (recreational and medical), and the data will be presented in the aggregate for each calendar year. Typically, Headset only forecasts one forward looking month at a time and in this new framework, forward looking forecasts will cover at minimum five quarters (15 months) and at maximum eight quarters (24 months).” The numbers take New Jersey, New Mexico, and New York’s new legalization into account. 

The data estimates the U.S. cannabis market to reach $23 billion in sales by 2022. Canada’s market is expected to grow twice as fast as the American market from 2020 to 2021, and nearly three times faster from 2021 to 2022. Headset predicts Canada’s annual sales to grow 54.6% in 2021 and 31.9% in 2022. The United States is predicted to see a 23% growth rate in 2021 and 24.4% growth in 2022. Canada’s cannabis market is expected to hit $4 billion in sales in 2022, so significantly lower than the U.S. market, but nonetheless on an incredibly fast-paced rate of growth. Check out the predicted (and last year’s) sales volume in both countries: 

2020

U.S.: $18,504 million 

Canada: $2,624 million 

 

2021 

U.S.: $22,751 million

Canada: $4,057 million 

 

2022

U.S.: $28,308 million 

Canada: $5,351

Per usual, flower is expected to dominate future markets and did dominate 2020’s market. 

  • Flower accounts for a majority of total annual sales, reaching $11 billion and $12 billion in 2021 and 2022 respectively. 
  • Despite flower’s consistent popularity in both markets, edibles, vapor pens, and concentrates hold more market shares than flower in 2020, 2021, and 2022
  • Edibles and concentrates are expected to have larger market shares (at the expense of flower and pre-rolls) in 2022
  • Pre-roll sales are expected to contribute to 20% of Canada’s total sales volume growth in 2022, making for a 2% increase from the prior year 

Tinctures, topicals, capsules, and beverages are consistently among the categories with the lowest sales in both markets, but still accumulating millions of dollars each year and in some cases, sharply rising. 

Category shares for both markets

The report also goes into detail about market shares by category, specifically sales and sales volume. Here are the top performing categories (roughly) in order, it changes depending on country and the year, but all five are consistently at the top:

  1. Flower
  2. Pre-rolls
  3. Vape Pens
  4. Edibles
  5. Concentrates 

Download Headset’s report here


Noemi GonzalesDecember 20, 2019
shutterstock_520976275-scaled.jpg?fit=1200%2C800&ssl=1

6min15690

In the grand scheme of things, the cannabis industry is still relatively young and we are still learning much about the ups and downs of this industry.

One interesting factor to consider and observe as this industry continues to grow is the effect that the holiday season has on the cannabis industry as a whole.

Let’s take a moment to compare various bits of data regarding the cannabis industry from Team Headset to see what we can discern from it.

First off, we must understand that in relation to the cannabis industry there are two sets of holidays to consider. There are the customary cultural holidays that we are all familiar with, meaning the time traditionally known as “Christmas”. There are also holidays specific to cannabis users such as 4/20 or 7/10 (calendar dates).

4/20 and 7/10

These two specific calendar dates are considered to be days to celebrate in the cannabis community. 4/20 has long been associated or considered to be a time to get high for years now(since the 1940’s according to some sources). 7/10 relates to cannabis concentrate oils as 7/10 upside down spells out “oil”. You can find many of these oil concentrate products to be available for consumption via pens, rigs, and vaporizers.

Reports indicate that the week leading to and the day of 4/20 show an increase of cannabis flower sales. Consuming the actual flower has a more traditional flair to it as opposed to more modern concentrated options. A factor in these increased sales is the fact that many dispensaries and shops are reportedly running deals leading up to 4/20 that contribute to these increased flower sales.

The week leading up to 4/20 showed a 25% increase in sales of cannabis products. Colorado, Nevada, Washington, and California all totaled over 100 million dollars in cannabis product sales during the week of 4/20.

The week of 7/10 does not seem to reflect any serious changes in terms of sales data. It is worth considering that 7/10 is a lesser-known cannabis day of celebration due to these concentrates being comparatively newer to the market.

Customary Holiday Season

The week of Christmas is another time of the year that has shown statistical increases with cannabis product sales. During the week of Christmas, the cannabis industry has seen an increase of around 15% in sales.

While this increase is not as large as that of the week of 4/20, it is still a considerable burst of growth for business owners in the cannabis industry.

What factors might lead to increased cannabis sales during the week of Christmas?

It appears to be more socially acceptable to gift cannabis to one another as time goes on. Many people have a little extra cash to spend due to bonuses from work and gifts from family. Many shops and dispensaries are trying out discounts and sales for the season. A wider array of options for methods of consumption will mean more people willing to try cannabis than before as not everyone enjoys the idea of smoking.

Who’s Buying?

A separate report from Team Headset breaks down the key demographics and their percentages of cannabis products purchased.

52% of all cannabis sales since legalization occurred are from the millennial demographic. The remaining 48% of cannabis sales appear to be split evenly between the Silent Generation, Generation Z, Baby Boomers, and Generation X.

Another interesting point from this report is that from 2018 to 2019 Generation X doubled their cannabis purchase rate from 3% to 6%. This trend currently shows no sign of changing or slowing down.

Conclusion

The data from Team Headset makes it clear that the holidays do indeed have a positive impact on sales in the Cannabis industry. The most notable being the week of 4/20 with the 25% increase.

It is also interesting to learn that Millennials alone make up over 50% of total cannabis product sales as of this time.

Perhaps the sales numbers relating to the week of 7/10 will also begin to increase over the years as concentrates become more commonplace in the cannabis market and social awareness.

If you would like to download and review these detailed reports from Team Headset yourself you may find them here:

https://www.headset.io/blog/how-do-the-holidays-affect-cannabis-sales-a-look-at-the-data

https://www.headset.io/blog/cannabis-demographic-analysis-trends

 


Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Friday afternoon.

We respect your privacy. See our privacy policy.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 2 days

$MAPS WeedMaps Files For More Shares

@GreenMarketRpt – 2 days

Happy Friday! Here’s the week’s top news all bundled up in one quick Marijuana Money: December 2, 2021

Back to Top

Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Monday morning.

We respect your privacy. See our privacy policy.