September 28, 2021

Massachusetts Retail Cannabis Sales on Track for Record Performance

increasing line chart
Photo: Frank Busch

The Massachusetts Cannabis Control Commission recently released adult-use market data for August 2021. August sales, at $125,843,894, were down 1% from July’s $127,113,019. As we have noted in regard to other states, July contained five weekends, when sales typically spike, so the small downturn from July to August suggests that the steady growth Massachusetts’ adult-use sector has been experiencing is not slowing in a meaningful way.

Meanwhile, the data shows significant jumps in quarterly sales year-to-date. Q1 sales were $268.7 million, Q2 sales were $327.7 million, and, thus far in Q3, sales are $253 million suggesting the current period will be another record breaking quarter, a not uncommon occurrence in recently legal, high population states. Year-on-year, August adult use sales are up 58.1%. While the Massachusetts market was slow to get off the ground initially, it seems to be hitting its stride.

Massachusetts also provides average monthly per-ounce retail prices, as depicted in the graph below. Readers should note that the anomalous drop shown in the chart is due to the suspension of adult-use sales that occurred as part of the state’s COVID-19 response, which lasted from late March to late May 2020. After sales resumed, average retail flower prices trended upward for several months, culminating in a high of $379.06 in November 2020, after which price has remained remarkably stable, sliding just $13 since that point.

Retail ounce price slipped $3 from July to August 2021 and is trading at levels not seen since June 2020. From a technical perspective, there is no support for current ounce prices. (Again, the dip in the chart occurred when adult-use sales were suspended.) However, given market fundamentals – including an ever growing customer base and contiguous large population states delaying adult use retail – there is a good chance price remains stable within the $350 to $400 per ounce range. August 2021’s average retail price is $367.08 per ounce, equivalent to $5,873 per pound.

Massachusetts Retail Marijuana Prices Per Ounce

Massachusetts Retail Cannabis Price Per Pound
Source: Massachusetts Cannabis Control Commission

Massachusetts also issued data on Medical Marijuana Treatment Centers (the state’s term for dispensaries). August 2021 medical sales were $26,540,694, 2.6% lower than July sales of $27,259,175. Cumulative 2021 sales through August 31, 2021 are $211,187,070, or an average of $26.4 million per month.

August 16, 2021

New England States See Increase in Retail Marijuana Purchases

new england
Photo: Alice Pasqual via Unsplash

The Massachusetts Cannabis Control Commission released adult-use market data for July 2021 recently. July sales, at $130,773,201, represented a steep 18.6% jump over June sales of $110,267,749. Similar to other markets, Massachusetts’ adult-use sales had plateaued in recent months, a trend that was disrupted in July. Year-on-year, July 2021’s sales are up over 79% from $79.2 million in July 2020.

Massachusetts also provides average monthly per-ounce prices through June 2021, as depicted in the graph below. Readers should note that the anomalous drop shown in the chart is due to the suspension of adult-use sales that occurred as part of the state’s COVID-19 response, which lasted from late March to late May 2020. After sales resumed, average retail flower prices trended upward for several months, culminating in a high of $403.49 ($6,456 per pound) in late 2020.

The per-ounce retail flower price then tracked below $400 in nearly every month since, with July 2021’s ounce price down at $396.49. Retail ounce prices might be considered steady at this point given the $396 handle has held over several months.

That said, Cannabis Benchmarks Massachusetts Spot Index has been on the decline, raising the possibility of lower prices eventually reaching the retail level.

Massachusetts Per Ounce Cannabis Flower Prices

Source: Massachusetts Cannabis Control Commission

Maine Continues Incremental Monthly Growth

The Maine Office of Marijuana Policy issued July data on the state’s adult-use market. July’s retail sales reached $9,433,860 on 124,004 individual transactions, with an average transaction price of $76.07. At the end of July, adult-use retailers in Maine have racked up $38,678,651 since the opening of the adult-use market in October 2020.

In July, retail sales of “Usable Marijuana” – or flower, pre-rolls, and trim – reached $5,439,134 in the state’s adult-use market, making up 57.7% of total monthly revenue. Concentrates and similar products accounted for 22.8% of sales at $2,156,255. Infused products, at $1,838,47, made up 19.5% of total sales.

As with most newer markets, Maine’s retail sales have increased every month since inception, as depicted in the chart below. Sales have been increasing at a torrid pace this year with July 2021 sales up over 45.8% from the month prior.

Source: Maine Office of Marijuana Policy