New Jersey's Cannabis Sales Expectations

New Jersey is likely to be the largest recreational cannabis market on the East Coast. With a total population of approximately 8.8M, it is the most densely populated of all US states. It is also closely bordered by the NYC metro area to the northeast and the Philadelphia metro area to the west. Until New York and Pennsylvania legalize recreational cannabis, some cross-border shopping is assumed in the below projection.

The NJ 21+ population was summed with 10% of both Pennsylvania and New York’s 21+ population (to account for cross-border shopping) for an adjusted eligible population of 9.0M. Applying the MA per capita spend as well as applying a 4% increase based on the difference in Alcoholic Beverage CPI (sourced from Bureau of Labor Statistics) between MA and NJ results in a top line sales forecast of $740M for the first complete year of sales.

It is important to note that if both PA and NY were to have operational recreational markets by the time of NJ’s first year of sales, implying negligible cross-border shopping, the forecast would decrease to $540M.

Show Notes:
Projections for New Jersey’s adult-use cannabis market
https://www.headset.io/posts/projections-for-new-jerseys-adult-use-cannabis-market

Guest:
Katrina Glogowski, Seattle Attorney & Angel Investor
https://www.linkedin.com/in/katrina-glogowski-711a985/

Host:
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
https://www.linkedin.com/in/joshkincaid/

Episode 710 of The Talking Hedge:
Your Cannabis Business Podcast.
Covering cannabis products, reviews, business news, interviews, investments, events, and more.
https://www.theTalkingHedgepodcast.com

Music Info:
Song: Beat | Keep On | 2020
Artist: Milochromatic Beats
&
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018
Artist: LuxrayBeats

Keywords:
Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Industry News, Weed News 420, Talking Hedge Podcast, Cannabis Podcast, Marijuana Podcast, Business Podcast, CBD podcast, THC podcast, Cannabis Pitch Deck, Marijuana Pitch Deck, Marijuana Investment Deck, Cannabis Investment Deck, Cannabis Compliance, Cannabis Data, Cannabis Banking, Cannabis Investment, Pot Stocks, Cannabis Stocks, Weed Stocks, Marijuana Stocks, Cannabis Data, Marijuana Data, Cannabis Analytics, Marijuana Analytics, Cannabis Sales Data, Marijuana Sales Data

Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers.