Marijuana Business Magazine May-June 2020

Marijuana Business Magazine | May-June 2020 8 CannabisbytheNumbers | Maggie Cowee Coronavirus Causes Chaos I n March, the coronavirus outbreak provided the U.S. cannabis industry with one of its greatest shocks to date. In a matter of days, marijuana business owners were forced to accommodate shifting consumer demand, social-distancing mandates and forced business closures. Consumers in many states stockpiled products in advance of shelter-in-place orders, and some shifted from smokable marijuana to edibles products in deference to COVID-19’s communicability and impact on the respiratory system. 35% Increase in the median daily transaction size among adult- use retailers in Oregon from March 16 to March 22 compared to January and February. The median transaction that week totaled more than $40, compared with roughly $30 pre-outbreak. 100% Year-over-year spike in adult-use marijuana sales inWashington state on March 16, relative to an average 15% increase in sales from 2019 to 2020. By March 21, the year-over-year difference had dropped to a 2% decrease. Source: Headset, Marijuana Business Daily 29% Market share increase (in dollars) of edibles in California during the week of March 13-21 compared to the months leading up to the coronavirus outbreak. The market share for edibles increased by 26% in Washington state and 8% in Colorado during the same period. As consumers shift away from products that are smoked, they might be turning to edibles because they are not shared and are not ingested using the lungs. 115% Increase in California delivery sales during the second week of March compared to the second week of January, as consumers prepared or were ordered to shelter in place. Retail store revenues increased by an average of 130% during this same period. Source: Jane Technologies Source: Headset, Marijuana Business Daily Source: Headset