The Oregon Liquor Control Commission (OLCC) recently released sales data for May 2021. According to OLCC, licensed retailers generated over $105.6 million in revenue last month, down by 4.7% from over $110.8 million tallied in April. May 2021’s sales are up by 2.1% year-over-year, from over $103.4 million in the same month in 2020.
The small year-over-year increase in monthly sales is particularly notable. While sales reached what were record levels at the time in both March and April 2020 as the COVID-19 pandemic arrived, they initially spiked to the levels seen recently in May. Comparable sales levels in May 2020 and May 2021 suggest that demand may be plateauing in one of the nation’s more mature legal cannabis systems. Annual growth rates in monthly sales have recently been comparable to the 20% – 25% annual increases in monthly sales that were observed consistently prior to the COVID-19 pandemic. As we have covered previously, 2020 as a whole saw an almost 40% jump in retail revenues compared to the prior year.
In May, sales revenue generated by adult-use consumers declined to over $96.1 million, down 4.5% from over $100.6 million in April. Sales to patients also decreased in May, to over $9.5 million, from over $10.1 million the previous month.
Month-over-month changes in retail sales revenue for the OLCC’s product categories are as follows: Revenue from sales of “usable marijuana” (the OLCC’s term for flower, trim, and pre-rolls) fell 4.7%, from over $61.6 million in April to over $58.7 million in May. Usable marijuana products made up 55.6% of all sales in May, compared to 55.7% in April.
Concentrates and extracts generated over $25.2 million in May, down 6% from over $26.8 million in retail revenue in April. Concentrates and extracts constituted 23.9% of sales in May, compared to 24.3% in April.
Finally, sales revenue from edibles and tinctures decreased in May, to over $11.2 million, down 2.7% from over $11.7 million in April. Edibles and tinctures accounted for 10.7% of total sales in May, compared to 10.6% in April.
Monthly harvest figures rose notably in May. The wet weight of all plants harvested in Oregon expanded by 21.5% from 264,063 pounds in April to 320,824 pounds in May. May 2021’s harvest wet weight is up 46.6% from 218,845 pounds brought in by licensed growers in May 2020.