Market Summary: Albuquerque
The following represents a select set of our data from dispensaries in the SE quadrant of Albuquerque:
Vapes:
In the SE quadrant of Albuquerque, dispensaries offer a wide selection of vapes, totaling 4,000 units across 117 brands. The average price for a 1g disposable vape is $34.04, while a 1g cartridge averages $26.12. A 2g vape typically costs $50.88. Bloom, Elevated, and GH Labs are the leading brands in this area, with Bloom being the most prominent.
Flower:
Dispensaries in the SE quadrant of Albuquerque provide 2,000 units of flower from 83 different brands. The average price for 1g of flower is $8.24, with a 3.5g package costing $28.10 and a 28g option priced at $99.49. The top brands include AWOL, CannaPeak, and Verdes, with AWOL leading in popularity.
Pre-Rolls:
In the SE quadrant of Albuquerque, pre-rolls are abundant, with 3,000 units available from 117 brands. A 1g pre-roll averages $7.08, while an infused pre-roll is priced at $33.71, and pre-roll packs are around $28.64. The most popular brands include PhD, Headspace, and PHD Cannabis Co., with PhD being the top seller.
Edibles:
The edible market in the SE quadrant of Albuquerque is robust, with 3,000 units spread across 132 brands. The average price for 100mg edibles is $15.87, with 200mg edibles at $17.32 and 300mg+ edibles costing $24.26. GH Labs, Elevated, and Wyld are the leading brands, with GH Labs and Elevated tied as the top brands.
Population Segments:
Albuquerque Nob Hill is a diverse and economically mixed area characterized by a population of 159.6K, with a median household income of $51.4K and an average salary of $45.1K. The area is home to a variety of population segments, with the largest being “Los Padrinos,” comprising older, single Hispanic residents who are heavily reliant on blue-collar jobs and public assistance. Other significant segments include single-parent households and young professionals.
Population Summary:
The region shows moderate education levels, with 56.4% having more than a high school education, and a relatively low unemployment rate of 4%. The area is economically viable, with a notable presence of both blue-collar and white-collar workers. The average age of the population is 40.6 years, with active customers in the area averaging 42.4 years old based on recent sales data.
Challenges:
This trade area, with its mix of income levels and employment types, presents a unique landscape of both challenges and opportunities for businesses, particularly in sectors that cater to the needs of a diverse and aging population.
Strategy:
To address challenges in Albuquerque area, businesses should tailor their approach to the area's diverse population by offering targeted products, and tiered pricing. Key strategies include focused marketing, community engagement, and support initiatives to build strong local ties and foster brand loyalty.
