High Demand: Cannabis E-Commerce Sales Ignite With 32% Surge On Fourth Of July

Jane, a leading digital provider in the cannabis industry, reported substantial growth in cannabis sales on July 4. Total recreational-only sales surged by 32%, from $3.5 million in 2023 to $4.7 million in 2024. Notably, stores operational on both July 4, 2023, and July 4, 2024, saw a 21% increase in sales.

Additionally, on Wednesday, July 3, total recreational-only sales reached $7.0 million, indicating a trend of pre-holiday shopping.

Overall, Independence Day ranked among the biggest days of the year for the industry.

The Top 5 Of Jane’s 2024

According to the data provided by Jane to Benzinga, the states leading in total recreational and medical sales on Independence Day, were Illinois, Pennsylvania, Maryland, California, and Florida. These states have shown robust market growth and consumer demand, reflecting broader acceptance and legalization trends. The top five products driving these sales included:

1. Flowers
2. Vapes
3. Edibles
4. Pre-rolls
5. Extracts

Read Also: Michigan Beats California In Legal Cannabis Sales: Why Is Golden State’s Weed Industry Losing Its Shine?

2024 Leading States

During 2024, several states are experiencing significant growth in cannabis sales.

1. Michigan: Michigan has emerged as a leading state in cannabis sales, surpassing California for the first time in unit sales. In March, Michigan sold 22 million cannabis products compared to California’s 21.3 million. This growth is driven by lower cannabis prices and strong enforcement against illegal operations, making it more accessible to consumers. Michigan’s cannabis market generated over $457 million in tax revenue in 2023​.
2. New Jersey: New Jersey’s cannabis market is booming, with a notable increase in sales, particularly during significant events like 4/20. This growth comes despite challenges related to market saturation and pricing pressures. Retail locations have also been growing at a steady pace.
3. Illinois: Illinois continues to see growth in its cannabis sales, with May sales reaching $146.2 million, marking a 10.1% increase from the previous year. Despite a slight decline in daily sales compared to April, the overall sales have shown a positive trend, contributing to cumulative adult-use cannabis sales of $709 million for the year, reflecting a 9.4% increase year-to-date.
4. Canada: In March 2024, the Canadian cannabis market saw a 7.1% increase in sales, reaching approximately $310.5 million. This growth is part of a broader trend, with total sales for 2023 increasing by 12.5%.

The above mentioned states add to traditional markets in the U.S. like California and Washington, which had peak performances during 2023 and will likely decrease in total volume during the current year.

• Read Next: Who Is Buying Marijuana And Why? Market Data Provides Behavior, Profiles & Insights For Investors

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