New Jersey Cannabis Market Sees Strong Growth in First Three Months of Sales
LOUISVILLE, Colo. — BDSA , provider of the most accurate and comprehensive retail sales data for the cannabis industry, today announced the launch of its coverage of the New Jersey cannabis market. BDSA’s Retail Sales Tracking reveals that New Jersey’s nascent adult-use market has shown solid performance, with monthly sales growth outpacing that of other, more established adult-use markets tracked by BDSA. Despite having one of the lowest per capita retail counts of any adult-use market, New Jersey has seen a strong start to 2022. BDSA Retail Sales Tracking shows that the state brought in approximately $200 million in legal sales from April 21st to July 31st. Dollar sales have seen a compound monthly growth rate of roughly 10% from May through July 2022. As a point of comparison, Illinois posted a compound monthly growth rate of just 3% in its first three full months of adult-use sales. “Although it has faced an abundance of regulatory challenges, New Jersey’s cannabis market ha...