Legalization doesn’t cause Teen Use.
Michigan State University recently published a study that focused on whether or not young people are more likely to use cannabis when legalization occurs. They came to the conclusion that cannabis legalization does not affect the number of teens using the drug, but does change the number of adults picking up marijuana. “Legalized cannabis retail sales might be followed by the increased occurrence of cannabis onsets for older adults, but not for underage persons who cannot buy cannabis products in a retail outlet,” writes the author. The paper goes on to show a comparison to the alcohol category and how a recent study showed that a large portion of the population refrains from alcohol use until they are legally allowed to.
Colorado has a long way to go.
Colorado is similar to that of California, which we wrote about yesterday, in which you have a mature cannabis market that is finally seeing price normalization after a period of price deterioration. June cannabis sales in Colorado came in at $149M, compared to $148M in the month prior. Over the last three months, this market has seen a MoM decline of 6% in April, a 3% decline in May, and a growth of 1% in June. We are also starting to see incremental improvement on a YoY basis over the last three months, with April seeing a YoY decline of 26%, May declining 24%, and June indicating a 21% decline in cannabis sales. This market is lagging California by a couple of months (CA won’t start seeing easing comps until September) and won’t start to see easing comps for themselves until the later months of the year and the start of next year.
GET YOUR WEED REWARDS.
Columbia Care, which has 99 dispensaries across the United States, just launched its “Stash Cash” app in 14 markets. Stash Cash allows you to stop and build loyalty rewards at their retail brands which include Cannabist, Columbia Care, The Green Solution, and Project Cannabis. “This loyalty program also helps us to better understand our customers, so that we can more efficiently understand their needs and introduce new products that fit with their preference profile. We’re proud of the entire team that brought this to life and coordinated its launch across 14 markets, 68 dispensaries, and six retail brands. Coordinating the broadest industry launch of a loyalty app is yet another testament to the expertise and dedication that the Columbia Care team brings to serving our patients and customers and normalizing cannabis across the country." Said Jesse Channon (Chief Growth Officer).
Great Industry Article: CLICK HERE
