In 15 months, the average price per retail gram of flower plunged from $9.79 to $5.77, fueled by increased competition and greater operational efficiency.
Meanwhile, the volume of flower sold grew dramatically, as more consumers transitioned to the legal market from illicit purchasing.
While average consumer spending per transaction ($35.25) barely moved, the lower pricing saw the average amount of flower purchased increase by 42% (to 4.60 grams from 3.25 grams).
As prices fall, consumers are inclined to buy more product rather than spend less money.
