New Mexico Cannabis May Sales Data | Bill Sluben posted on the topic | LinkedIn (2024)

New Mexico CannabisMay Sales Overview1⃣ Total retail license count is up for first time in 5 months2⃣ An ALL-TIME best 69% of retail licensees are "activated" - reported sales last month. This is up from nearly 57% in May '23 3⃣ Total sales are near an ALL-TIME high, with three consecutive months of +$50mm sales4⃣ REC Transactions at an ALL-TIME high5⃣ REC AOV (retail basket) at an ALL-TIME low and MMJ AOV at its lowest level since October '236⃣ Median REC and Total sales (k) were down last month after three consecutive monthly increases#newmexicocannabis#cannabisdataThe Data Heard

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New Mexico CannabisMay Headlines(edits/corrections)1. Jal, Clovis, and Espanola have been the top sales growth markets since June ‘23, ranked by increase in market median storefront sales.2. Los Lunas was the only top-20 market with positive REC AOV growth last month.#newmexicocannabis#cannabisdataThe Data Heard

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35 Storefronts in NM!Congratulations to Ken and the rest of the Schwazze team on your recent momentum. Four of these 35 storefronts have had three consecutive months of positive month-over-month REC sales growth, 11 additional storefronts have been up two of the past three months, and 23 storefronts generated positive sales growth last month. https://lnkd.in/eEdHj_GQ

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Cookies is opening a store in Sunland Park. Sunland Park is approaching $5mm/month in REC Sales and has had the largest sales gain of any NM cannabis market since last June (incl. ABQ).

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Happening today: Public hearing by theTexas Senate Committee on State Affairsto examine the sale of hemp products in TexasIf any TX Hemp-derived cannabinoid ban occurs...the impact on the NM border markets would be substantial, with a large uptick in sales. But just how substantial?https://lnkd.in/e54nVpzx✔️ Sales of hemp-derived cannabinoids in Texas generate more than $8 billion annually (the article does not specify what % of that was from TX shoppers)✔️ The 2024 estimated TX shopper contribution to NM cannabis is $64.1mm, or 14.5% of ALL NM REC cannabis sales.✔️ El Paso has at least 35 Hemp-derived cannabinoid retailer storefronts (including smoke shops). The impact on these business owners would be devastating as their local shoppers will either access the black market, cross the border and purchase D9 THC products after no more than a 10-minute drive, or purchase out-of-state hemp-derived cannabinoid products via e-comm.#newmexicocannabis#cannabisdata

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A 30-day "winback" program that does nothing to address the fundamental concern of the majority of your audience."What happened to the value in a value meal?" McDonald's loyalists say...and have many questioning if there is enough value NOW at a $5 promo price that only lasts for 30 days and not all operators will honor. 🤡 QSR is in a pickle here. On the one hand, costs have soared for the operators, namely, hourly wages have steadily increased—the hourly average hourly labor cost for "Fast Food and Counter Workers" in San Jose is $19.68, for instance, according to the US Bureau of Labor Statistics. On the other hand, the long-running price increases have alienated the core customer—price-elastic seekers who look for a value-priced and satisfying meal.Consider that between 2014 and 2023, fast-food prices increased by 47% compared to 29% for the average of all prices, pointing to evidence of fast-food firms’ recent profiteering—this according to a recent study by the Roosevelt Institute examining fast-food industry profiteering.Despite McDonald's making $14.5 billion profit last year, the 30-day Winback deal is being subsidized by its drinks supplier, Coca-Cola, and its franchisees, who run 90% of restaurants.According to the Wall Street Journal, Coca-Cola will provide $4.6 million for the promotion. https://lnkd.in/e7n3d4kb

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# 2 in monthly cannabis sales in NM at $990k last month, and now....closed.(edit) - now open - chalked up to a "misunderstanding" - see link in comments

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Four new "notice of contemplated action" are on the Cannabis Control Division Enforcement Actions page.https://lnkd.in/ePE4BMMQ

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Thank you to all who attended yesterday's free New Mexico Cannabis April Sales Review. The data reflects a slight sales drawback and suggests the possibility that the # of total operating (reporting) storefronts is cresting.The southern markets of Sunland Park, Anthony, and Chaparral pulled the Texas shoppers in with 4/20 deals and promotions. Sunland Park recorded 9x the REC transactions that Tucumcari did! Hobbs was the top sales performance market last month.(https://lnkd.in/eJB8d5_G). It was great to have Scott Prisco of cannabis delivery Priscotty join the monthly sales review to provide key delivery data updates (delivery AOV holding over $105, nearly four items per delivery basket, and an average price of $32). I look forward to having Scott back in August for a summer update!#newmexicocannabis#cannabisdataThe Data Heard

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