You’re reading a copy of this week’s edition of the New Cannabis Ventures weekly newsletter, which we have been publishing since October 2015.
It was a year ago that we discussed how cannabis sales data might be volatile after compiling and publishing BDSA sales estimates in several markets for November 2020.
We continue to argue that some of the lift in sales in many markets in 2020 was likely transitory, but the massive boost to convenience caused by the additions of e-commerce and payment solutions that enabled curbside pickup and delivery likely played an essential role as well.
Two months doesn’t make a trend, but we were very encouraged to see very strong numbers out of Illinois and Michigan for December, reinforcing our view that positive growth rates should return in more mature markets.
While cannabis company revenue growth isn’t entirely dependent upon how the sales in their markets are growing, as many companies are expanding organically in their states of operation or into other states or by acquisition, the underlying demand for cannabis certainly plays an important role.
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