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🏬 Character of Massachusetts Cannabis Dispensaries

🌿 Diverse Product Offerings

Dispensaries in Massachusetts provide a wide range of cannabis products, including flower, edibles, concentrates, and topicals. Retailers are focusing on offering high-quality products to meet the diverse preferences of consumers.

🌱 Community Engagement

Many dispensaries actively engage with their local communities through educational events, partnerships with local organizations, and participation in community initiatives. This approach fosters trust and strengthens relationships with customers.

💼 Business Adaptation

In response to market challenges, some dispensaries are adjusting their business models. This includes reevaluating pricing strategies and exploring new revenue streams to remain competitive in a dynamic market.

📰 Recent Developments in Massachusetts Cannabis Industry

📈 Record Sales

Massachusetts' adult-use cannabis industry achieved a significant milestone in 2024, generating $1.64 billion in gross sales. This marks a record for the state's cannabis market and reflects its robust growth .WBUR+3masscannabiscontrol.com+3Boston.com+3Boston.com+1WBUR+1

💸 Declining Prices

Despite the increase in sales, the average price of cannabis has decreased. The cost per gram has fallen by 62% since 2018, from $14.09 to $5.36, due to factors such as increased supply and reduced demand from neighboring states .WBUR

🛑 Business Closures

The declining prices and increasing operational costs have led to challenges for some dispensaries. Approximately 30 licensed marijuana businesses ceased operations in 2024, about twice as many as the previous year .WBUR