Cannacurio #82: Dispensary And Retailer 2023 Q3 Leaderboard

Republished By Plato

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Here is our round-up of states that issued dispensary/retailer licenses in the 3^rd quarter of 2023. So far this year we added 739 stores in Q1 2023; 649 in Q2 and 573 in the Q3. 5 states accounted for 77% of these Q3 licenses: New York, New Jersey, Michigan, California, and New Mexico.

New York, New Jersey, Michigan, California, & New Mexico accounted for 77% of Q3 licenses
Oklahoma issued only 3 licenses down from 11 in Q2 and 332 in Q1
New York and NJ combined for 331 licenses in the 3^rd quarter.

Here is a look at the six states that have issued at least 100 new store licenses this year graphed against the number of store licenses issued in Q3. It certainly reinforces the fact that Oklahoma has effectively shut things down in terms of new licensure.

In looking across the 1,961 new licenses added YTD, it is interesting to see which companies added stores in the first three quarters. Based on the Cannabiz Media License Database, here are the 10 companies that added 8 or more licenses YTD 2023:

Finally, the table below shows the final Cannabiz Media tally of dispensary/retail licenses for September 2023.

Overall active store licenses are only up 4% since the end of Q2. A decline in Oklahoma stores is a factor as the stores decreased from 2,851 in June to 2683 in September – almost a 6% decline. However, we expect an upward trend as newly licensed states expand and as New York supercharges their license issuance. We should also be monitoring New Hampshire’s possible experiment with state run stores and Mississippi’s independent drug store scheme.

Ed Keating is a co-founder of Cannabiz Media and oversees the company’s data research and government relations efforts. He has spent his career working with and advising information companies in the compliance space. Ed has managed product, marketing, and sales while overseeing complex multi-jurisdictional product lines in the securities, corporate, UCC, safety, environmental, and human resource markets.

Cannabiz Media customers can stay up-to-date on these and other new licenses through our newsletters, alerts, and reports modules. Subscribe to our newsletter to receive these weekly reports delivered to your inbox. Or you can schedule a demo for more information on how to access the Cannabiz Media Cannabis Market Intelligence Platform yourself to dive further into this data.

‍Cannacurio is a weekly column from Cannabiz Media featuring insights from the most comprehensive intelligence platform. Catch up on Cannacurio posts and podcasts for the latest updates and intel.