Connecticut cannabis sales take 12 percent hit in September

Cannabis sales in Connecticut took a 12 percent hit in September from the previous month, according to state data. 

A decrease in the average price per gram and in the total number of cannabis products sold in Connecticut pushed total sales down 12.3 percent, from $25.7 million in August to $23.4 million in September.

Both sales of recreational and medical cannabis dipped in September, though the downward trend was largely driven by medical sales, which dropped 10.9 percent from $7.7 million to $6.8 million.

Recreational sales decreased as well, though a comparatively smaller 7.6 percent, from $18 million to $16.6 million.

Part of the decrease in sales can be attributed to what Fine Fettle owner Ben Zachs called fundamentals. August was a 31-day, five-weekend month, including the Friday and Saturday of Labor Day weekend.

Still, Zachs said September sales were lower than expected.

“Our metrics showed that, just in terms of fundamentals, September should have been a month that was about 8.5 percent below August, but to see 12 percent was not what we'd love to necessarily see as we're trying to build this market up,” he said. 

There were many promos offered over September, which Zachs said can account for the decrease in average price per gram, which went from $12.16 in August to $11.61 in September.

Customers also have the option of shopping for their cannabis in bordering states, which Zachs said “are still really, really competitive.” An oversupply of cannabis in Massachusetts has kept prices low in that state, and though New York has only a few legal dispensaries, there are more options available than in Connecticut.

“There's just not the variety of choice yet in the market, which I think will come,” Zachs said.