Michigan Dispensaries Set Monthly Sale Record in August, Closing the Gap with California | Where to order cannabis online

Learn how to order cannabis online. TOP QUALITY GRADE A++

Cannabyss Inc. is the best place online to buy top quality weed, cannabis, vape, marijuana and CBD products. Get your borderless orders delivered at the pickup spot with ease. Top Grade products for client satisfaction.

👉 Click here to Visit our shop! 🛒

According to new data released by the state’s Cannabis Regulatory Agency on September 11, Michigan’s licensed marijuana dispensaries continue to cash in on a growing market. In August, sales reached a record monthly total of $295.4 millions.

This monthly record is $6.6 million higher than the previous one from March. It includes more than $294,1 million in sales for adult-use products and nearly $1.3 millions in sales for medical products.

Notably, March and August each featured five Fridays and five Saturdays–traditionally the two best-performing sales days of the week for cannabis dispensaries.

5 Tips for Maximizing Friday Sales in Your Dispensary

According to the CRA, Michigan also set a monthly record for the most adult-use flowers sold, with 100,894 lbs. The average price of adult-use flowers remained at an all-time-low of $80.14/ounce.

According to the CRA, in August, Michigan’s adult use flower sales represented 44% retail revenue. Concentrates represented 19.6%, vape cartridges 18.5%, and infused edibles 9%.

Michigan is on track to sell more than $3.32 Billion in total cannabis in 2024. This represents an 8.6% increase over the $3.06 Billion in 2023 sales. Retailers in the state are also on track to sell nearly 1 million pounds of adult-us flowers in 2024. This represents a 12.8% rise over 2023.

According to the Department of Cannabis Control, California’s licensed marijuana dispensaries will finish 2024 with a total of $4.75 billion, based on monthly sales figures.

(c) Cannabis Business Times

California’s retail cannabis market reached a peak of $5.35 billion sales in 2021. It is now in its third consecutive decline year due to the continued lack of licensed dispensaries in much of the state. According to the DCC, California cities and counties are prohibited from allowing retail cannabis businesses.

Michigan has approximately 8.7 dispensaries for every 100,000 people. California has about 3.2 dispensaries.

Hirsh J. Jain, founder and CEO of a California-based industry consulting firm, said that Michigan has three times as many legal dispensaries per person as California. Ananda StrategyTell me if you can Cannabis Business Times.

“This is why it’s much more convenient for people to shop on the legal market in Michigan,” he said. “Michigan’s 16% cannabis tax is lower than the 35% to 45% tax imposed by California, depending on local jurisdictions and the taxes often imposed throughout the supply chain.” This makes Michigan’s legal cannabis much more affordable than California’s, which drives most consumers to Michigan.

California’s average price of flowers per package Half ounce According to the DCC, in 2024, the retail price is expected to be around $50.

California’s 15% cannabis excise duty is set to rise to 19% next.

RELATED: California Cannabis Businesses Fail to Pay Taxes in 2025 as Hike Approaches

Due to a variety of market dynamics, Michigan’s cannabis sale is approximately $330 per capita each year compared with California’s $120 per capita.

Since Michigan’s licensed cannabis dispensaries began selling adult-use cannabis in December 2019, they have sold more than $10,3 billion in adult use and medical cannabis.