How New Adult-Use Markets Accelerate the Expansion of Legal Cannabis

May 10, 2021 3:42:08 PM / by BDSA posted in Market Trends, Cannabis Industry, Cannabis Legalization, cannabis insights

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So far this year, Virginia, New York, and New Mexico have legalized adult-use sales, bringing the total of states with adult-use cannabis to 18, in addition to the District of Columbia, Guam and Northern Marianas Islands. With the passage of legalization in these states, more than 108 million Americans aged 21 and over, 43.2% of the country’s adult population, now have access to legal cannabis. While expansion of access to any new states is cause for optimism, these recent moves are notable due to the momentum they will add to further legalization efforts.

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CANADIAN CANNABIS SPENDING SOARS TO $2.6 BILLION IN 2020

Apr 15, 2021 2:51:37 PM / by BDSA posted in Canadian Cannabis Market, Market Trends, Cannabis Industry, Consumer Insights, cannabis insights

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BDSA estimates that total legal cannabis spending in Canada reached more than $2.6 billion in 2020, based on BDSA’s Canadian retail sales tracking and available government data through February. That is slightly higher than BDSA’s previous forecast of $2.5 billion—which was intentionally conservative in anticipation of impact from the COVID-19 pandemic. As in the United States, however, Canada’s legal cannabis industry saw only limited, short-term negative effect from the pandemic in 2020.

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Using Basket Analysis to Win in Store

Apr 8, 2021 11:10:32 AM / by BDSA posted in Market Forecasts, Retail, Market Trends, Cannabis Industry, Consumer Insights, cannabis insights

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A high-level understanding of cannabis markets is key for any business looking to succeed in the industry. But as legal markets mature, those in the highly competitive cannabis retail space need a more detailed view of consumer behavior and purchasing trends to stay ahead of the curve. BDSA offers a variety of tools to help retailers and brands make informed business decisions.

Retail Sales Tracking provides a granular view of sales trends, category mix and brand/product performance in 10 U.S. cannabis markets. Consumer Insights gives a detailed look at consumer demographics, preferences and behaviors. Now, BDSA’s new Basket Analytics product gives a comprehensive view of per-transaction purchasing dynamics.

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Global Cannabis Sales Exceeded $21 Billion in 2020; BDSA Teams Up with Canaccord Genuity to Discuss the Latest Outlook

Mar 5, 2021 3:14:20 PM / by BDSA posted in Market Forecasts, Cannabis Consumption, U.S. Cannabis, Cannabis Industry, Cannabis Sales Forecast, Cannabis Legalization, cannabis insights

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BDSA’s Chief Executive Officer, Micah Tapman and Vice President of Insights and Analytics, Kelly Nielsen recently joined Canaccord Genuity’s Bobby Burleson for a lively discussion surrounding BDSA’s latest market forecast. Here are the highlights!

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Arizona Launches Adult-Use Sales in Record Time

Feb 9, 2021 12:48:07 PM / by BDSA posted in Market Forecasts, Cannabis Sales Forecast, Cannabis Legalization, cannabis insights

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With the launch of sales on January 22, 2021, Arizona became the 10th state with adult-use cannabis retail. The state is already home to one of the most developed medical cannabis markets in the country, as BDSA’s retail sales tracking shows that Arizona brought in over $1 billion in medical sales for 2020. While Arizona’s market will likely deal with issues that are common in new adult-use markets, such as undersupply and limited retail coverage, BDSA expects Arizona to see strong adult-use sales in 2021.

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Expectations for Federal Cannabis Reform in 2021

Jan 19, 2021 9:39:02 AM / by BDSA posted in U.S. Cannabis, Cannabis Industry, Cannabis Legalization, cannabis insights

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With the results of the 2020 election finalized, one of the clear winners was the cannabis industry, with every legalization proposal on the ballot passing. Voters in 2020 showed that cannabis legalization has grown in popularity to the point that it is no longer a partisan issue, but the progress seen in legalization at the state level has been accompanied largely by inaction at the federal level. The election of Joe Biden to the presidency and the recent progress of cannabis legislation in the House of Representatives give hope that the gridlock on nationwide cannabis reform may be coming to an end in 2021.

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Top 10 Cannabis Predictions of 2021

Jan 6, 2021 1:09:17 PM / by BDSA posted in Market Forecasts, Market Trends, Cannabis Industry, Market Insights, cannabis insights

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The Year Ahead – The Cannabis Industry in 2021. 

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Legal Cannabis Wins Big in 2020 Election

Nov 6, 2020 12:22:19 PM / by BDSA posted in Market Forecasts, Legal Cannabis, Cannabis Legalization, 2020, 2020 Election, cannabis insights

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Acceptance of legal cannabis is rising across the United States and the 2020 election season was an eventful one for the cannabis legalization movement.

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BDSA Launches Retail Sales Tracking in Canada

Oct 8, 2020 10:29:20 AM / by BDSA posted in Data Deeper, Cannabis Market, Canadian Cannabis Market, Cannabis Data, BDSA-Insights, Cannabis Sales, Market Insights, Market, Cannabis Sales Forecast, cannabis insights

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With launch of Retail Sales Tracking, BDSA Provides Comprehensive Suite of Market and Consumer Insights on the Canadian Cannabis Market

BDSA has launched retail sales tracking data for Canada, providing brands and retailers with greater insight into the world’s largest nationally legal cannabis market.

BDSA forecasts Canada’s cannabis industry will reach CAD$3.3 billion ($2.5 billion) in spending in 2020 and grow to CAD$8.1 billion in 2025, rising at a compound annual growth rate of 20%. Canada’s market is divided into the medical and adult-use channels, with the latter commencing sales in October 2018. Consumer spending in the adult-use channel has grown rapidly since launch and is expected to account for nearly 84% of Canada’s total legal cannabis market in 2020.

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The 'It's Complicated' Relationship between Cannabis and Alcohol

Oct 1, 2020 11:11:14 AM / by BDSA posted in Data Deeper, Cannabis Market, Cannabis Data, BDSA-Insights, Market Insights, Market, Cannabis Sales Forecast, 2020, cannabis insights

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43% of alcohol consumers also consume cannabis

An interesting interaction is evolving between beverage alcohol and cannabinoid products that is becoming an increasingly important issue for both alcohol and cannabis brands and retailers to watch as worldwide cannabis consumption grows. Growing acceptance and consumption of cannabis, consumption of both alcohol and cannabis and cannabis product innovation are three factors influencing beverage alcohol consumption.

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