|EAST LANSING – January sales for cannabis products in the United States was slightly lower than in December, according to Anderson Economic Group’s monthly AndCan®Index. |
However, the recent trend of more even growth continued; a departure from the rapid increases last spring and summer and the slowdown in the fall. AEG’s experts develop this monthly measurement by closely following 50 state trends for both the recreational and medicinal marijuana markets. Monthly calculations are based on benchmarks developed when AEG first began assessing the market in 2015.
Kenan Cosguner, AEG’s lead analyst for this market, anticipates that cannabis product demand will continue to rise, fueled by the COVID-19 relief stimulus that passed in March.
“Last spring, we saw that the surge in cannabis product demand closely tracked with the onset of the pandemic and the passage of the initial federal relief program,” said Cosguner. “Since millions of Americans began receiving stimulus payments in mid-March, a corresponding acceleration in demand growth is likely in March and April.”
Cannabis product demand increased nationwide from December to January; however, sales trends varied from state to state. Illinois, for example, saw cannabis sales grow 2 percent and Michigan experienced 9.5 percent growth. Conversely, sales decreased slightly in Massachusetts.