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).