The Illinois Department of Financial and Professional Regulation (IDFPR) issued April 2023 adult use sales figures. April 2023 combined sales to in-state and out-of-states residents, at $132 million, were down 2.1% from March 2023 combined sales of $134.8 million and were up 0.2% from April 2022 combined sales of $131.8 million.
April 2023 in-state sales, at $99.6 million, were down 1.5% from March 2023 sales of $101.1 million, but up 9.5% from April 2022 sales of $90.9 million. The in-state market share inched up 0.4% in April 2023 to 75.4%, bringing the average in-state market share in 2023 to 74.2%, up 5.1% from the full year 2022 in-state market share of 69.1%.
April 2023 out-of-state sales, at $32.4 million, fell 3.8% from March 2023 sales of $33.7 million and were down 20.6% from April 2022 out-of-state sales of $40.9 million. April 2023 out-of-state market share, at 24.6%, is down 0.4% from March 2023 and down 7.4% from April 2022 behind Missouri’s adult use legalization earlier this year. Thus far in 2023, the average out-of-state market share is 25.8%, down from the full year 2022 market share of 30.9%.
Missouri demand is still ramping up and sources say low supply has doubled price, which is likely the reason for Illinois’ softer out-of-state market share this month. Missouri has, at last count, 50 active cultivators with 16 more licensed cultivators in the wings.
Illinois sales reversed nearly all the January / February 2023 losses with gains in March 2023. While April sales came in a bit softer, gearing up for the summer tourist season and higher prices in Missouri might see Illinois post strong sales figures in the coming months.
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