What You Can Learn from the Success of These 5 Cannabis Brands
It is no secret that many mature U.S. cannabis markets are experiencing stagnant or declining year-over-year sales. For example, the median store in Washington processed more than 8,500 transactions in March 2021 but fewer than 7,500 in February 2022. Nearby, the average basket size at the median Colorado store was $59.73 in July 2021 but fell to $55.21 one year later. Despite these trends, some cannabis brands are finding a way to overcome negative shifts and find success. The transaction volume and average basket size at the median store in Colorado may have dropped by at least 8 percent from July 2021 through July 2022. However, consumers are still showing up to support a trio of innovative vapor pen and concentrate brands . Lazercat Cannabis, a concentrate and vapor pen brand, has increased sales by more than 160 percent since August 2021. Magnitude, an Infusiasm brand, began calling Colorado home in 2020 and performed reasonably well through 2021 with more than $500,000 in monthl...