BDS Analytics’ CPI & Cannabis Consumer Sales Report – November 2019
January 24th, 2020
The one-of-a-kind CPI is a benchmark of retail sales pricing across cannabis products in select legalized U.S. markets. The index currently reports sales in Arizona, California, Colorado, Nevada and Oregon— state markets that generated more than 50 percent of the legalized U.S. sales in 2018. Underlying pricing data is the compilation of actual dispensary transactions captured by BDS Analytics’ GreenEdge® Retail Sales Tracking Platform.
The baseline of measurement represents the launch of adult-use sales in California in January of 2018. In order to standardize retail pricing data for Flower and Concentrates, all transactions are normalized to price per gram. For Ingestibles, Topicals and Vape, sales are converted to a price per unit measure.
BDS Analytics’ CPI is unique in its ability to index retail pricing across all product categories, a significant insight considering the rapid market growth largely driven by branded products in all categories.
BDS Analytics’ CPI for November 2019 stands at 100.95, representing less than half of a percent increase from the trailing month. Compared to November 2018, average retail prices have decreased less than two percent. Year-to-date average retail prices have decreased nearly three percent.
The index score is positive for Pre-Rolled Joints and Topicals, indicating an increase of the average retail price of these product categories relative to January 2018. The remaining product categories including Flower, Vape, Ingestibles and Dabbable Concentrates, have negative index scores; average retail prices remained stable when compared to the trailing month.
GreenEdge® Insights: In November 2019, legal cannabis dispensary sales across Arizona, California, Colorado, Oregon and Nevada reached a combined $572 million, nearly a two percent decrease from the trailing month and a 15 percent increase from the prior November.
Historically, November is a transition month with minimal sales changes from October. In fact, from October to November in 2018, dollar sales decreased by roughly the same amount that we saw with the same period in 2019. November 2019’s loss was mostly due to a two percent decrease in Flower sales as other product categories remained constant. Category share of Flower decreased by roughly half of one percent, whereas category share of Vape increased by roughly half of one percent. While most of the category shifts were small, the slight increase in Vape indicates a notable rebound following the losses resulting from the Vape scare in September 2019.
Next month’s installment of the CPI will close out the 2019 reporting year. In previous years, December sales have spiked, ending the year with higher sales.
About BDS Analytics: Headquartered in Boulder, Colorado, BDS Analytics provides businesses with smart, actionable and accurate cannabis market intelligence and consumer research. The company provides a holistic understanding of the cannabis and CBD markets through insights distilled from dispensary point-of-sale systems through its market-leading GreenEdge® Platform, producing comprehensive consumer research and generating cannabis industry financial projections and analyses led by BDS Analytics’ industry-leading team of thought leaders and analysts. To learn more about our CPI or BDS Analytics’ products and services, please contact [email protected] or visit us online at bdsanalytics.com.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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