Halo Collective anticipates significant sales increase in Oregon sales for 2023 after launching an aggressive expansion plan. The sales team has been making progress onboarding new retail dispensary chains and former dispensary customers and is gearing up for a strong year in 2023. The company is also launching new premium cannabis strains and plans to commence growing the launch harvest next week at its Pistil Point facility. The launch will include three new strains: Gelato Biscotti, Sherbet, and Strawberry Sherbet as an initial lineup for their new dessert line. The company continues to expand its product portfolio and innovate new strains maintaining its premium standard for Cannabis manufacturing and cultivation in Oregon and California.
After a successful partnership with a dispensary chain in Oregon with over 30+ locations across the state, the sales team has launched an aggressive expansion plan targeting high-volume dispensaries and wholesalers. Having evaluated efficiencies and production capabilities amongst its various facilities in Oregon, the company is positioned well to supply large-scale wholesale outlets. Sales numbers and volumes have been proven earlier this year and maintains a strong market for cannabis consumption volumes. Cannabis Business Times reports: Adult-use sales totals jumped to $83.7 million in April (2022). In addition to the $83.7 million in adult-use sales for April, Oregon's licensed cannabis retailers also sold nearly $6.1 million in medical cannabis products–$89.8 million combined for the month of April. Cannabis flower represented 50.5% of the combined product market share in April, while concentrates and extracts represented 24.3% of the market, and edibles and tinctures represented 13.6% of the market. While 2022 overall exhibited lackluster sales, Statista forecasts an estimated cannabis sales value of approximately 1.04 billion U.S. dollars in Oregon in 2025.2 Some experts say this is partially due to Oregon state's proposed legislation to tamp down the traditional market. AP News reports that parts of Oregon have seen record seizures, with a retail street value of cannabis in Oregon estimated to be $76 million. This poses an opportunity for growth in the legal cannabis market.
The launch of Halo's new dessert strains: Gelato Biscotti, Sherbet, and Strawberry Sherbet, will offer new additions to the current portfolio and will be advanced through the recent sales and distribution channels. The initial production will commence next week, with the expected harvest and cultivation to complete in late Q1. Once the initial grow of the new strains has been produced and launched to market, the company will review and assess the feedback and demand for these new strains. The new dessert strains will primarily be sold in flower form, with a portion of production being converted to pre-rolls. The company expects a sell-out of the crop based on initial conversations with its customer base. Upon the second growth cycle in March 2023, the company plans to utilize the new dessert strains for extracts and vape cartridges in addition to flower and pre-rolls.
The Portland Business Journal reports: "Over the medium and long term, sales are expected to increase as Oregon's population, income, and spending grow," the economists say. Then there's the possibility of usage-rate growth – something many in the industry are hopeful of but that the economists haven't yet built into their models. "Cannabis sales are expected to remain a steady share of income and spending," they say. "As such, the risks lie primarily to the upside should usage and broader social acceptance continue to increase in the years ahead."
"Halo has been recognized as an innovator and premium brand in the industry having exclusive access to new high-quality strains in Oregon, reinforcing its competitive edge in the Cannabis space," states CEO and Chairman Katie Fields. "Combining Halo's powerful manufacturing and cultivation capabilities with its tenacious sales strategy, we project a strong year for 2023."
Continued Ms. Field, "Halo remains steadfast in its commitment to solidifying its strong and long-lasting connection with Oregon consumers as we seek maximum penetration in our core markets. We view our operations and sales structure in Oregon as a blueprint for potential expansion plans as we continue to gain traction and set a standard for excellence."
The company sees great value in continued growth within both the states of Oregon and California. Halo has experienced positive results by expanding its portfolio, adding additional strains, and continuing to offer a larger variety of products to its consumers. The strains and product offerings are constantly being re-evaluated and prioritized based on demand. The company is focusing on new dispensary growth and adding new points of distribution across the state of Oregon as part of its sales plan for the upcoming year.
For more information:
Halo Collective
[email protected]
www.halocanna.com