In a first, Cannabis data firm Headset has drawn a detailed comparison between the prices of a number of cannabis products available across 4 states viz. Colorado, California, Nevada, and Washington.
Of the four states in question, Washington has emerged as the state with the lowest average price per cannabis product. Be it concentrates, vape-pens or pre-rolls, no state does it as well as Washington. Given below is the average item price across all categories as calculated by Headset for each state:
- California- $30.90
- Nevada- $26.94
- Colorado- $23.95
- Washington- $15.33
However, there is one aspect where Colorado has beaten Washington, that is, the average price per gram of flower, which is $4.90 in the latter while $4.60 in the former state.
Notably, the same gram of flower that now costs an average $4.9 in Washington was as high $30 when marijuana was first legalized in the state.
However, a question that might arise in your mind is-
Why is the average price of cannabis products in Washington so low as compared to the other three, especially when Washington’s 37% cannabis excise tax is one of the highest?
Courtesy of the ‘tiered house’ market system featuring thousands of different cannabis brands, the retailers in Washington gets a lot of power to push back on price. Meanwhile, states like Colorado may never see such prices because of the less competitive brand market.
The Most Expensive
Nevada is the most expensive state of the lot as far as a flower, concentrates, pre-roll and vape-pens are concerned. Another reason that adds to Nevada’s premium pricing is its tourism.
Vape pens, which are particularly popular among tourists and casual consumers, are more expensive in Nevada than in any other state. The average price per gram for vape carts in Nevada was $96—almost triple Washington’s average of $36, reports Headset.
California, on the other hand, is even ahead of Nevada when it comes to average product price. Also responsible for such high average item price is the increased compliance costs that came with California’s transition to a regulated market of late.
Read Headset’s full report here
