This story originally appeared on Benzinga
LeafLink released its annual Wholesale Cannabis Pricing Guide, which explores pricing data from ten cannabis markets in the United States across five product categories.
“Understanding pricing is pivotal for businesses to grow efficiently in the cannabis industry, which is why the Wholesale Pricing Guide has become one of the greatest resources we share,” Ryan G. Smith co-founder & CEO of LeafLink told Benzinga. “Leveraging the depth of our dataset, cannabis operators are able to make smarter decisions about pricing and purchasing, empowering members of the LeafLink platform and beyond to expand into new markets.”
The impact of pricing on sales
LeafLink, the cannabis industry wholesale marketplace, analyzed over 296,900 SKUs across the top ten national markets in this guide. The study examined 2021’s average wholesale pricing for five categories: flower, cartridges, concentrates, edibles and ingestibles and pre-rolls.
Within each category, the guide highlights pricing on both the national and market level, as well as year-over-year changes. Over $3.2 billion of wholesale orders placed through LeafLink in 2021 were used to determine the impact of pricing on sales.
“We’re excited to release this year’s pricing guide to help cannabis brands optimize their pricing for 2022,” Alex Feldman, general manager of insights and marketing services at LeafLink said. “LeafLink’s platform provides the largest national wholesale cannabis dataset, which allows us to surface the true impact of pricing on sales.”
Pricing guide 2021 highlights
- Wholesale cannabis prices declined on average in 2021, driven by several factors.
- The cartridges category was the only one that saw prices grow on average across all markets, increasing by 6%.
- Specific states saw dramatic year-over-year price shifts, including the average price of concentrates in Oklahoma decreasing by 27% and cartridges in Michigan by 17%.
- Read the entire pricing guide here.