For Retailers | February 7, 2024

LeafLink Rolled 2023: Insights, Trends, and More

Given the volume of transactions that flow through the LeafLink Marketplace, we wanted to share some insights, trends, and product updates from over the last year in the form of our “2023 Rolled” infographic below.

But first, some key takeaways.

Strong year-over-year gross merchandise value (GMV) growth on theLeafLink marketplace.

In 2023, LeafLink Marketplace GMV was up 20% compared to 2022, surpassing over $5B. Cannabis continues to be an incredibly fast growing industry and it’s fueled by not only legacy markets, but new markets that legalized recreational use and took learning lessons from mature markets on how to enter a market properly. 

Increasing customer experimentation with new categories.

While flower and pre-rolls remain the strongest product category, we’re seeing a desire for more portable, precise, and potent ways of consuming. The “cartridges” category saw a significant 28% increase in GMV in 2023, and the subcategories of disposable vapes and 510 thread vapes saw noteworthy increases. Disposable products saw the largest growth of 88%. These products make it easier to consume and come in a wide array of flavors and formats, so their growth is no surprise. 

Unique form factors remain on the rise.

Customers continue to have increasing interest in unique forms of consumption. For example, infused ice cream saw 56% growth over the course of 2023. Along with the industry’s growth, LeafLink’s technology offerings expanded, added new customers, and added new features and capabilities. Check out some of the highlights below. 

LeafLink continues to invest in our technology to meet customer needs.

As the industry matures and becomes more sophisticated, so do our offerings. In 2023 we spent a great deal of time with customers to help shape how we evolve our platform. We’ve expanded offerings within our B2B ads platform, improved our in-platform payments tools – particularly our Direct Pay option, expanded our network of logistics providers, and more. 

Here’s to a prosperous 2024.

* Data referenced in this document was pulled from the full 2023 calendar year of LeafLink marketplace sales (excludes sample sale data).

2023 Rolled is a celebration and analysis of everything that happened on LeafLink in the last year. Through marketplace sales data we’ve uncovered trends that point to how the industry is evolving to meet consumer demands, and what tools businesses are adopting to take their businesses to the next level. Check it out. 

LeafLink’s annual Gross Merchandise Value (GMV) surpassed $5 Billion, up over 20% YoY.

Topicals: 0.6%
Cartridges:  25.5%
Concentrates: 10.8%
Edibles: 15.7%
Flower: 33.9%
Pre-rolls: 13.5%

Pre-rolls were the fastest growing category (+40% YoY)
Flower remains the most popular category (33.9%)
Over 1,350 new retailers joined the platform (+16% YoY)
Launched two new marketplaces, New York and Vermont, bringing total count to 30

Generated $69 Million in attributed GMV for cannabis brands
Launched 3 new ad formats, including pay-per-click solutions
Revamped the Ads dashboard to provide more insights for advertisers

Orders paid via LeafLink Payments grew by 113%, with a 93% increase in transacting customers
Expanded Direct Pay to two new states, Michigan and Missouri

Expanded Logistics support to seven new states and partners
Surpassed $1 Billion in logistics GMV

Join the LeafLink ecosystem 

Our technology powers wholesale cannabis commerce. Since 2016, we’ve helped over 12,000 companies build relationships, process payments and ship products to retail. Our solutions service over $5B in annual GMV and support customers in over 30 markets.