Report: COVID-19 Impact on Cannabis Sales

By

Headset, Inc.

As the realities of our changing world have set in we are beginning to understand how cannabis consumption is impacted in uncertain times. Adult-use cannabis was first legalized in WA and CO in 2014 and since has not yet experienced a negative business cycle. Recent weeks are the first test of this new consumer segment in a period of high unemployment and negative economic trends.

Tourism reliant markets like NV and CO have seen sales volumes decline since the start of the COVID-19 crisis. However, markets like WA and OR are experiencing increased sales. This lends credence to the idea that cannabis may be a counter-cyclical good like alcohol.

This report will examine the changes in consumer trends in adult-use cannabis sales across five US states (CA, CO, NV, WA, OR) and three Canadian provinces (AB, BC, and ON). We will break down each week and examine the trends that were present in the market place in light of changes in regulations, consumer sentiments, and economic trends. We will specifically focus on the most relevant topics in that particular week to shed light on possible causes behind the top line sales trends. We created this report using our Insights Premium data. This data leverages direct retail connections with over 1,000 retailers across the US and Canada.