WASHINGTON: On Wednesday, November 26th the state of Washington achieved a milestone the industry has been anticipating for months; the first time single-day recreational cannabis transactions (producer, processor and retail sales) broke the one million dollar barrier. Given this milestone was achieved with 75 retail stores in operation, we can anticipate that this will be a regular occurrence once the majority of the state’s allocated 334 stores are licensed and in operations.
Here are other highlights from the Washington State Recreational Cannabis Business Intelligence Dashboard:
- Thanksgiving day sales drop off to just under $148K indicates the $1M sales on the day before was likely due to consumers making cannabis purchases in advance of Thanksgiving festivities and due to stores being closed on Thanksgiving day.
- Comparing Friday over Friday sales there is no indication that Washingtonians had a “Green Friday” the day after Thanksgiving as sales on Friday the 28th were in line with typical Friday sales.
- The second anniversary of passing I-502, November 6th, is the second highest sales day, next to the 26th, with over $930K in sales.
- Sales continue to grow at a steady pace. This sales growth appears to be driven by increased access for consumers to retail locations and a consistent supply of cannabis in the market.
- The two weeks with most sales occurred in November. The week of November 2nd (includes the 6th) is the largest sales week so far with over $4M in sales and the week of November 23rd is the 2nd largest with over $3.6M in sales.
If you are a producer, processor or retailer who would like to be a confidential data provider for the dashboard and receive custom business insights or would like more information about business intelligence and analytics feel free to contact Joe at email@example.com.
About Joe Armes: Joe is the founder of Analytically Correct, a data analytics services company that provides custom analytics solutions that transform data into insights to allow decision makers to focus on what adds most value. His passion is to work with organizations with deeply rooted causes to help them gain access to the knowledge needed to make timely and informed decisions/