Mikhail Shapiro

CCB Meeting June 11, 2024 - 46.2 million in retail cannabis sales in ONE month New York’s cannabis industry is looking better than ever! Today’s CCB meeting featured a very positive market update showing the profitability of NY’s cannabis Industry. The month of May 2024 closed with an astonishing $46.2 million in retail cannabis sales, with weekly sales revenue reaching a record-high average of $12.5 million! This is a massive jump from the $6.7 million in retail sales made during the entire month of May 2023. With a grand total of $357.3 million in cannabis retail sales generated by 132 open and operating adult-use dispensaries, the New York market is poised for a future of continued growth. There’s no better time to start your New York cannabis business. Learn more about New York's cannabis market below! https://hubs.la/Q02Br-tY0 #NewYorkCannabis #NYC #CannabisBusiness #CannabisCulture

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New Jersey is the market to watch! Love this article by Benzinga Cannabis! It's thrilling to see the New Jersey cannabis industry thriving, with a 23% increase in total revenue in the last quarter of 2023, particularly in the pre-roll segment, where sales have risen by 8%. Despite regulatory hurdles and limited brand diversity, the market is seeing robust growth, with leaders like Verano holding a 21% share and Miss Grass capturing 13% with its 0.4g 5-pack minis. This is just the beginning! There are so many more brands coming into the NJ market. Benzinga's Cannabis Capital Conference will be doing a one-day summit in NJ on June 17th and I will be there! Hope to see you! Elliot Lane Patrick Lane Emily Lehmann Jeni Cohen Elana Cohen Cassie Tomaselli Lori Ferrara David Cunic Brian Dowling Philip DeMuro Chris Vaglio ⚡️Gian Lombardi Gabriella Lombardi Wilday Kate Miller Rachel Wright, CPA, MST Michael Schwamm Kevin Cassidy, CPA Greg Hill Steve Goldner LKP Impact Consulting, LLC Avicenna Leadership Group Eduardo Provencio Shaan Kapoor Tripp Murray #NewJerseyCannabis #MarketGrowth #CannabisIndustry https://lnkd.in/geHUeJWD

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📅 Mark your calendars for the next NY Cannabis Control Board meeting on June 11th. Which licenses will make the cut this month? Will the discussions be as dynamic as the last session? I'm particularly eager to see if the CCB plans to approve all licenses recommended by the Office. Stay tuned for updates and insights! 🌿 #CannabisIndustry #CCB #CannabisLicensing #RegulatoryUpdates

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90% of cannabis retailers have inventory imbalances (👀 under-stocked in 28g) When Vetrina reviews a retailer's inventory, they are often understocked in pack sizes like 28g but overstocked in smaller 3.5g units. The root cause is analyzing inventory performance at too granular a level—looking only at revenue by SKU rather than a category/ subcategory view. Imagine you have a coffee stand and sell different-sized cups of coffee. The small has five different brew options, but the large only has one. Does the coffee stand really understand if the customer wants the large cup? Or do the sales of the small cups reflect the customer's brew preferences? This is similar to what's happening in dispensaries. Most of the time, there isn't enough variety or newness in 28g to tell if the options are supporting customer demand. When you review the sales, it sends a false signal that customers want 3.5g, not 28g. When you only look at how much money you make from every kind of coffee instead of looking at all the cup sizes first, you might create missed opportunities and not see the demand story. In this example, what if the top 2 brews were sold in the large cup size? Would the coffee stand increase sales? To optimize your product assortment and inventory levels, you need to structure your analysis by looking at the big and small picture. Don't let insights get obscured by an overly narrow view of your data. Well-structured product categories empower inventory management and assortment planning decisions. Which you can read more about on our blog.

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Step into a world where the pulse of the cannabis industry beats strongest, at the "Benzinga Cannabis Market Spotlight: New Jersey." This premier event is designed with a clear focus on networking, providing a unique opportunity for industry professionals to connect, engage, and forge meaningful relationships in an intimate setting conducive to making deals and shaping futures. You'll find yourself surrounded by the movers and shakers of the cannabis world. Structured networking sessions, one-on-one meetings, and casual mixers are woven into the fabric of the event, ensuring that every conversation has the potential to turn into a valuable business opportunity. At the "Benzinga Cannabis Market Spotlight: New Jersey," networking isn't just a feature—it's the foundation. Connect with industry leaders, discover potential partnerships, and engage in dialogue that could lead to your next big deal. This is where the future of cannabis in New Jersey—and beyond—is shaped. Join us and be a part of the conversation that defines tomorrow.

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