New data from Weedmaps highlighted that New Yorkers tend to spend more than the national average on orders.Despite the rocky start, New York Gov. Kathy Hochul and the state’s Office of Cannabis Management project that total cannabis sales will exceed $200 million in early June.
In May alone, sales surged by $4.4 million, reaching a total of $46.2 million. The last week of the month recorded a new weekly sales record of $12.5 million. To date, there are more than 132 dispensaries open for business across the Empire State.
At this week’s OCM meeting, the Cannabis Control Board authorized the issuance of 105 adult-use cannabis licenses spanning the supply chain, encompassing microbusinesses, cultivators, processors, distributors, and retail dispensaries.
New Yorkers spend more on cannabis
Data released today by Weedmaps (Nasdaq: MAPS) revealed that New York consumers spent more on their individual cannabis purchases than in other markets. The average order value (AOV) for New Yorkers on orders placed through the platform outstripped than the national average by more than 50% during the first quarter of 2024 ($123.16 in New York vs. $80.78 nationally).
In addition, New York has a 6% higher basket size through Weedmaps vs. the national average in the same period (2.35 items vs. 2.22 national).
Another difference between New Yorkers and national cannabis shoppers: New Yorkers prefer in-store shopping versus delivery.
What New Yorkers are buying
Not surprisingly, flower is the top choice for New Yorkers when ordering products through Weedmaps. Flower continues to be the number one consumption choice across all states. However, New Yorkers do seem to like their edibles more than other states.
Here’s how the New York preferences break down:
Cannabis flower accounts for 53% of orders (5% higher than the national average of 48%)
Edibles make up 27% of orders (9% higher than the national average of 18%)
Vape Pens account for 15% of orders (10% lower than the national average of 25%)
The preferences vary across age cohorts, however. Weedmaps’ data found that New York consumers over the age of 50 predominantly order edibles through Weedmaps. Vape pens is another area with significant differences by age, with consumers under the age of 50 ordering the products far more frequently than those over 50.