New data suggests that New York consumers are leading in #cannabis spending, with sales projected to hit $200 million by early June. Here are some of the highlights, which includes some Weedmaps data 👇 📈 May sales surged by $4.4 million, reaching a total of $46.2 million, with a new weekly record of $12.5 million. 💸 Average order value: New Yorkers spend $123.16 on average vs. $80.78 national average (50% higher). 🛒 Basket size: Average of 2.35 items in NY vs. 2.22 nationally (6% higher). 🍃 Flower orders: 53% (5% higher than the national average). 🍪 Edibles orders: 27% (9% higher than the national average). Special thank you to Green Market Report for highlighting our recent findings regarding New York's cannabis market! See more insights here: https://lnkd.in/gsTsRfTT #cannabisindustry #cannabisnews
Weedmaps
Software Development
Orange County, CA 71,938 followers
Weedmaps is the technology platform powering the cannabis industry.
About us
WM Technology, Inc.’s (Nasdaq: MAPS) mission is to power a transparent and inclusive global cannabis economy. Now in its second decade, WM Technology has been a driving force behind much of the legislative change we’ve seen in the past 10 years. Founded in 2008, WM Technology, is a leading technology and software infrastructure provider to the cannabis industry, comprising a B2C platform, Weedmaps, and B2B software, WM Business. The cloud-based SaaS solutions from WM Business provide an end-to-end operating system for cannabis retailers. WM Business’ tools support compliance with the complex, disparate, and constantly evolving regulations applicable to the cannabis industry. Through its website and mobile apps, WM Technology provides consumers with the latest information about cannabis retailers, brands, and products, facilitating product discovery and driving engagement with our retail and brand customers. WM Technology holds a strong belief in the power of cannabis and the importance of enabling safe, legal access to consumers worldwide. Since inception, WM Technology has worked tirelessly, not only to become the most comprehensive platform for consumers, but to build the software solutions that power businesses compliantly in the space, to advocate for legalization, social equity, and licensing in many jurisdictions, and to facilitate further learning through partnering with subject matter experts on providing detailed, accurate information about the plant.
- Website
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http://weedmaps.com
External link for Weedmaps
- Industry
- Software Development
- Company size
- 501-1,000 employees
- Headquarters
- Orange County, CA
- Type
- Public Company
- Founded
- 2008
- Specialties
- Internet Technology, Software, Media Services, Marketing, Web Media, Medical Marijuana Education, Medical Marijuana Advocacy, and SaaS
Locations
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Primary
Irvine
Orange County, CA, US
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Denver
Denver, Colorado, US
Employees at Weedmaps
Updates
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Today and everyday, we honor the Service Members that have made the ultimate sacrifice for our country 🇺🇸 Celebrate their lives as you enjoy Memorial Day weekend. Discover more here: https://lnkd.in/gmnVtckp
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Since the first markets opened a decade ago, states have now generated more than $20 billion in adult-use tax revenue according to a new report. Just last year, states collected over $4 billion in adult-use tax revenue—the most ever generated in a single year, according to Marijuana Policy Project. “State-legal cannabis sales continue to provide significant economic benefits,” Karen O'Keefe, director of state policies at MPP, said in a press release. “With over $20 billion generated in adult-use cannabis tax revenue since the first sales began, the legal cannabis industry is providing much-needed funding for crucial services and programs in states across the country.” See the full report: https://lnkd.in/ge8GbSa3
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"Too many lives have been upended because of our failed approach to marijuana." President Biden released a statement earlier this morning announcing that the Justice Department is "taking the next step" to move cannabis from Schedule I to Schedule III. "At my request, and guided by science and evidence, HHS and DOJ have studied the drug's medical use and abuse and dependency potential and are recommending rescheduling – concluding reclassification would remove barriers to critical research. No one should be in jail just for using or possessing marijuana. Today’s announcement builds on the work we’ve already done to pardon a record number of federal offenses for simple possession of marijuana." Biden said in the announcement. See the full announcement and news story: https://lnkd.in/gU_3iw6M #cannabis #cannabisnews #cannabisindustry
Biden Makes Historic Marijuana Rescheduling Announcement, Applauding 'Monumental' Move To Reverse 'Longstanding Inequities'
weedmaps.com
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Get ready to toke up with Weedmaps this May 🌿 Check out the high-profile events we're blazing through and be sure to drop by and join the fun. Stay tuned for our next stop! https://lnkd.in/gKRhpum #cannabisevents
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Congrats to this year’s Best of Weedmaps winners! 🏆 The Best of Weedmaps program seeks to award and recognize the retailers and brands who provide the best-of-the-best when it comes to consumer shopping experiences on the Weedmaps platform. Users helped choose the 2024 winners by ordering, reviewing, favoriting, and following their favorite semifinalists. See the list of winners here: https://lnkd.in/geAfF28F
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In an historic move, the DEA has agreed to reschedule cannabis from Schedule I to Schedule III 🌿 After 50 years of being classified alongside substances like heroin, it’s a groundbreaking shift supported by top federal health experts. But what does this mean for the industry and overall changes? Learn more: https://lnkd.in/gXXXjxst #cannabis #cannabisnews #cannabisindustry
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A big thank you to Business Insider for featuring Weedmaps in their 4/20 sales report. This year's 4/20 celebrations highlighted a remarkable surge in consumer demand, underscoring the vital role of technology in understanding and meeting this demand. Additional 420 takeaways include: ✅ 72% of items ordered across Weedmaps were brand-verified. 💻 Order volume increased by 18% on the day before 420, compared to the previous two Fridays in April. 📈 Order volume increased by 86% on the day of 420, when compared to the previous two Saturdays in April. 🛒 Basket size increased by 7%, while the number of items ordered increased by 38%. Since 2021, vape prices have decreased by 16% and edibles by 21%, although we have seen the price of flowers increase by 5% year over year. For more detailed insights, visit the full article here: https://lnkd.in/gMVMba57 #cannabisindustry #cannabisbusiness
After The 4/20 Smoke Clears: What Do The Billions Spent On Cannabis Say About Sales In Key States?
markets.businessinsider.com
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Did you see us during 420 week? 🔥 Here are some of our favorite moments from the weekend. We celebrated at events from East to West coast like National Cannabis Festival in DC, Mile High 420 Festival in Colorado, Buds-A-Palooza in Arizona, and more. We took over digital billboards in Times Square and DTLA, and threw a 420 party to enjoy our favorite holiday with our team. What were some of your favorite 420 moments? #cannabis #cannabisindustry #cannabiscommunity
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📈 4/20 consumer trends 📈 Here are some key takeaways when looking at last year's data on Weedmaps 👇 ⭐️ 𝗚𝗲𝗻 𝗭 𝗶𝘀 𝗱𝗿𝗶𝘃𝗶𝗻𝗴 𝘃𝗮𝗽𝗲 𝗽𝗲𝗻 𝘀𝗮𝗹𝗲𝘀 - Compared to every other demographic on Weedmaps, Gen Z has the largest share (31% in 2023) of their purchases for 4/20 week dedicated to vape pens -- a consistent order trend for this demographic since 2020. ⭐️ 𝗙𝗹𝗼𝘄𝗲𝗿 𝗿𝗲𝗺𝗮𝗶𝗻𝘀 𝗼𝗻 𝘁𝗼𝗽 𝗮𝗰𝗿𝗼𝘀𝘀 𝗮𝗴𝗲 𝗴𝗿𝗼𝘂𝗽𝘀 - Flower’s share of basket is significant across all age groups on Weedmaps, with it making up nearly half of total units ordered on 420 day in 2023. ⭐️ 𝗧𝗵𝗲 𝗲𝗱𝗶𝗯𝗹𝗲𝘀 𝗰𝗮𝘁𝗲𝗴𝗼𝗿𝘆 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀 𝘁𝗼 𝗴𝗿𝗼𝘄 𝗶𝗻 𝗽𝗼𝗽𝘂𝗹𝗮𝗿𝗶𝘁𝘆 - in 2023, orders for edibles grew 36% during 420 week compared to previous year. However, total order volume for edibles still does not outpace flower. What are some trends for this year you think we'll see? #cannabis #cannabisindustry #cannabiscommunity #trendreport
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