Retail sales of cannabis and related merchandise reached $182 million during the 4/20 holiday period (4/18–4/20), up 30% from the same period last year, according to MJ Freeway. The actual day (a Saturday) garnered $80 million in sales, of which 45.3% was for flowers, 39% for cartridges/pens, 12% for concentrates, and 10% for edibles. The largest share of dollar sales were by … [Read more...] about Last Week’s 4/20 Sales Reached $182 Million; Licensed Sales Still Lagging Behind Potential
Cannabis
HBA Gets Fashionable
Licensed consumer goods based on fashion brands generated $21.45 billion worth of retail sales in the U.S./Canada in 2016—HBA goods accounted for $2.55 billion's worth of that. This year, we can expect to see more competition in the HBA space from home-brewed brands (the types of which would have been obvious picks for licensing in prior years) and new, innovative extensions … [Read more...] about HBA Gets Fashionable
A Budding Business
The 4th Annual Cannabis World Congress & Business Exposition in NY took place last week, and the buzz is substantially dimmer. Compared to last year, the crowd was more sophisticated, knowledgeable, and connected. But as the cannabis industry becomes more settled, it's also becoming clear that (consumer products) licensing is not going to be a significant player anytime … [Read more...] about A Budding Business
In Which States Is Marijuana Legal?
Recreational, medical or no marijuana? Here’s a geographic rundown of the state of legalized marijuana across the U.S. In eight states (Nevada, Maine, Colorado, Washington, California, Massachusetts, Alaska, and Oregon) the sale and possession of marijuana is legal for both medical and recreational use. For the latest in licensed bud, see TLL's feature on the possibilities of … [Read more...] about In Which States Is Marijuana Legal?
Trump, Hilary, and… Cannabis?
By Karina Masolova With election day fast approaching, there's another vote Americans are preparing to make. Nine states have ballot measures for cannabis legalization—a sector worth $60–100 million in licensed retail sales in 2015, according to TLL estimates. Although we've reported on the state of licensed cannabis products and accessories throughout the year—with 2016 … [Read more...] about Trump, Hilary, and… Cannabis?
Licensed Cannabis the Next Big Thing
This year’s Cannabis World Congress & Business Exposition New York (CWCBExpo NY) welcomed a disparate crowd as businesses sought to stake a claim in an industry estimated to be worth $5.7 billion in the U.S. in 2015, according to ArcView Market Research and New Frontier. While TLL estimates place retail sales of licensed legal cannabis at less than 1% of all industry sales, … [Read more...] about Licensed Cannabis the Next Big Thing
Are Celebrity Chefs the Next Wave in Marijuana Branding?
Celebrities have been quick to seize the branding opportunities offered by the $2.7 billion legal marijuana industry. But up to now, most of the celebrity branding deals have involved maverick musicians like Bob Marley, Willie Nelson, Snoop Dogg and other rappers. (See TLL's live chart of celebrities that have lent their names to a marijuana brand.) But a new kind of celebrity … [Read more...] about Are Celebrity Chefs the Next Wave in Marijuana Branding?