Key Takeaways
[Representative image via Dall E]
- Connecticut records more than $25 million in cannabis sales for September.
- Recreational sales reached $14.3 million, slightly outpacing the previous month.
- Medical cannabis sales witnessed a small drop, tallying nearly $11 million.
- Overall, there was a noticeable increase in the total cannabis products sold in September.
- The average price of recreational cannabis products reduced from the start of the year, with September showcasing the lowest prices.
Stamford, CT--Connecticut's cannabis sales experienced a significant surge in September, amounting to over $25 million.
According to a Connecticut Public report, a breakdown of these figures revealed recreational sales at approximately $14 million.
Remarkably, recreational pot sales outdid the sales of medical-use marijuana for the month, as noted by the state Department of Consumer Protection.
Product Breakdown
Delving deeper into the type of products sold, over half of the sales comprised usable cannabis, also known as flower.
Vapes accounted for a third, while edibles marked their territory with 11% of total sales.
Medical marijuana patients contributed to these figures with around 284,000 product purchases, whereas recreational users were responsible for 370,000.
The state’s cannabis Seed-to-Sale Tracking System meticulously gathered all this data.
Price Analysis
September wasn't just significant for the volume of sales but also marked the lowest product prices since the inception of legalized recreational sales.
While there was a slight dip in medical cannabis sales from the prior month, recreational sales experienced a bump.
According to a New Haven Register report, the average price for retail-use cannabis products settled at $38.37 in September, a descent from $39.49 in the preceding month.
Prices have steadily declined since January, when products were priced highest at $44.61.
This trend is indicative of the increasing affordability of cannabis products in Connecticut.
Product Preferences
Consumers have shown specific preferences in their choice of cannabis products. The report noted that cannabis flower remains the top choice, constituting 53% of all sales.
Vape cartridges followed suit, making up just over a quarter of the total products sold. Meanwhile, infused edibles secured about 10% of sales last month.
What Do We Think
Connecticut's impressive cannabis sales figures for September highlight the state's successful transition to legalized recreational marijuana use.
With prices hitting an all-time low and sales reaching new heights, it's evident that the market is both robust and dynamic.
As the state continues to monitor and refine its approach, consumers are reaping the benefits with better access and more affordable options.