Massachusetts Cannabis Sales Decline Slightly In June, Despite Annual Quarterly Growth – Benzinga

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Data released by the Massachusetts Cannabis Control Commission (CCC) showed that legal cannabis sales dipped slightly in June, marking a 2% month-over-month decrease from $155 million in May to $152 million. Despite this slight contraction, the daily sales figures actually increased by 2%, adjusting for fewer shopping days in June compared to May.

Massachusetts Cannabis Sales And Price Trends

This nuanced performance continues a trend of steady growth on a quarterly basis, with Q2 2024 reporting $457 million in sales, a 4% increase from $441 million in the previous quarter. Annually, this represents a modest 2% growth from $447 million in Q2 2023.

The CCC’s data show price dynamics within the market have also shifted, with the average price per gram of cannabis reaching a record low of $5.06 in June, the lowest since such records began in January 2020. This price reduction comes amid an expanding retail landscape, with the number of operating dispensaries rising to 368 by the end of June.

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Revenue Per Dispensary Declines

However, increased competition and market saturation have led to a noticeable decrease in revenue per dispensary. A Beacon

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