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Californians Spend $681 Million on Cannabis in 3 Months
Author: Devon Alexander Brown  09/10/2017 - 21:40:00

California has a long history with medical cannabis. In 1996, it became the first state to establish a medical cannabis program—resulting in a little over 20 years of legal cannabis sales. But time hasn’t slowed down consumer spending—a new study shows Californians spent $681 million on cannabis within one quarter of 2017. They’re expected to spend $2.68 billion by the end of the year. 

These findings are based on a study conducted by BDS Analytics, a research firm based in Colorado. The firm collected sales data from dispensaries throughout California, before ultimately concluding upon state spending and product popularity. Greg Shoenfield, vice president of operations for BDS Analytics, told The Press Democrat he estimates California comprises more than one-third of all legal cannabis sales in the United States, with 1,100 operating dispensaries and 2,000 delivery services. 

The report shows over half of all legal sales (55 percent) were for dried cannabis flowers, generating approximately $375 million during the second quarter of this year. Cannabis concentrates, not nearly as popular with most consumers, made up one-quarter of sales (25 percent) during the same three-month period. Edibles were also included in the report, generating approximately $40 million in legal sales by the start of the summer (April through June). The most popular edible products were cannabis chocolate and gummy candies.

BDS Analytics tracks 13,000 cannabis stains and varieties. Their findings show Blue Dream is the most popular strain across California, followed by Golden Goat, Durban Poison, Gorilla Glue and Green Crack.

California comprises roughly 34 percent of all legal cannabis sales in the United States, despite having no commercial cannabis producers. When combined, Washington, Oregon and Colorado comprise roughly 41 percent of all legal sales despite having both medical and commercial operations. California is expected to provide licenses for the commercial cannabis industry next year.

The post Californians Spend $681 Million on Cannabis in 3 Months appeared first on Culture Magazine.

Original article from ireadculture:Californians Spend $681 Million on Cannabis in 3 Months


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