MJBizMag November-December 2022 - 12

FROM THE EDITOR Kate Lavin
Out With a Bang
F
rom Cookies flower to Cann
Social Tonics, marijuana brands
have never been more robust.
But in an industry fragmented
by market and rife with house
brands from vertically integrated
operators, it can be difficult to tell
whether changes in retail sales
reflect true consumer trends or
companies succumbing to economics
and dumping excess inventory.
Not to worry: For this month's
cover story, MJBizMagazine
crunched marijuana sales numbers
from markets across the United
States to uncover the hottest
products and brands of 2022. Plus,
we look at average basket size
and composition by state to reveal
geographic trends and surprising
consumer-spending habits.
Green Monster
One runaway hit this year is
Jeeter's eye-catching line of
infused pre-rolls, which have
brightly colored cones and are
covered in kief.
Cooper Ashley, analytics manager
for cannabis market intelligence
firm Headset, says that
" infused pre-rolls ... have just gone
bonkers over the last few years. "
It's the perfect way to describe
the meteoric rise of a product that,
until recently, hadn't even existed
in most parts of the regulated
market. According to Ashley, sales
of infused pre-rolls have grown by
a factor of five since January 2020.
Marijuana in Motion
But it's not just the pre-roll sector
that is changing. As MJBizMagazine
reporter Omar Sacirbey found
Retailers parse this year's sales trends to predict the top products for 2023
If you are looking to
launch a marijuana
business or expand
in 2023, you won't
want to miss
MJBizCon.
while interviewing marijuana
retailers across the United States,
sales revenue can vary widely
based on state regulations and
market maturity-and that affects
decisions as granular as whether
consumers opt for vape cartridges
filled with distillate or live resin.
In Michigan, for example, an
unlimited number of cultivation
licenses have created a glut in the
3-year-old recreational marijuana
market. Product manufacturers
awash in inexpensive Michigan
flower can now produce full-gram
concentrate cartridges that retail
for as little as $11.
The windfall for consumers has
been disastrous for the state's
licensed marijuana growers.
Edwin Maguire, general manager
of Big Rapids, Michigan-based
marijuana retailer Premiere
Provisions, said: " When you have
a lower-priced product, people
purchase a little bit more and
splurge a little bit more. "
Consequently, basket sizes in
Michigan are still averaging around
$68, putting the state's average
spend ahead of more established
rec markets such as Colorado,
10 November-December 2022 | MJBizMagazine
Oregon and Washington state.
To learn where other markets
rank in terms of basket size, vape
sales and top brands, turn to " Flying
Off the Shelves " on page 46.
Almost Time for MJBizCon
If you are looking to launch a
marijuana business or expand
in 2023, you won't want to miss
MJBizCon, the cannabis industry's
largest conference and expo, taking
place Nov. 15-18 in Las Vegas.
For an idea of the detailed business
intelligence you can expect
from the event, check out the
interview on page 14 with entrepreneur
Rhonda Kallman, who is
speaking on the 2022 MJBizCon
Main Stage. As co-founder of the
brewery behind Samuel Adams
beer, Kallman leveraged branding
to help launch the U.S. craft-brew
movement-and she has tips for
marijuana business owners.
And don't miss the Official
Show Guide starting on page
83. It's packed with details
about new features such as the
Innovative Product Showcase and
ReMind Psychedelics Business
Forum-plus a promo code to
save 10% on registration.
We can't wait to see you in Las
Vegas.
Kate Lavin is the editor
of MJBizMagazine. Reach
her at kate.lavin@
mjbizdaily.com.
MJBizMag November-December 2022

Table of Contents for the Digital Edition of MJBizMag November-December 2022
