Housing Works Cannabis Co. Achieves Impressive $12 Million in Sales in First Six Months

NEW YORK – Housing Works Cannabis Co., the inaugural adult-use retailer to establish its presence in New York, has reported a remarkable $12 million in sales during the initial six months of operations. The nonprofit made this announcement in a press release on Monday, showcasing strong conversion rates, sales figures, and customer retention since its opening on December 29.

With up to 1,000 unique visitors on bustling days, Housing Works has been successful in attracting a diverse and engaged clientele. A notable portion of the sales, approximately 5% to 7%, can be attributed to same-day or next-day deliveries in specific ZIP codes across Brooklyn, Manhattan, and Queens.

During the first half-year of operation, Housing Works has identified several consumer trends. Most notably, shoppers base their purchasing decisions primarily on potency, showing a preference for sativa and sativa-leaning hybrid strains. As for product categories, flower emerged as the top-selling item. Furthermore, customers in search of edibles have been particularly interested in products that promote sleep and alleviate anxiety.

In a recent expansion move, Housing Works introduced 200 new product SKUs (stock-keeping units) at its 4,000-square-foot location in the vibrant NoHo neighborhood of Manhattan. This expansion includes offerings from LGBTIQA+, minority, and women-owned brands, exemplifying the retailer’s commitment to fostering diversity within the cannabis industry.

Among the seven social equity brands available at Housing Works, Brelixi, the retailer’s first Black-owned brand, made its debut in June. The other socially conscious brands on offer include Fat Nell, The Weekenders, Flamer, and Drew Martin.

Housing Works holds the distinction of being New York’s pioneering conditional adult-use retail dispensary (CAURD) licensee to open its doors, positioning the retailer as a trailblazer in the state’s burgeoning cannabis market.

New York’s cannabis regulators recently demonstrated their dedication to equity by approving over 200 social equity retail licenses, nearly doubling the total number to 463. This forward-thinking approach aims to empower individuals disproportionately affected by the government’s previous war on drugs, offering them a chance to secure cannabis business licenses and fostering an environment for long-term success.

Significantly, Housing Works allocates the proceeds from its sales to support crucial community services for New Yorkers. These services encompass healthcare, housing, job training, case management, social justice initiatives, LGBTQ+ youth programs, and sexual health services, underlining the retailer’s commitment to giving back to society.

Sasha Nutgent, the retail manager at Housing Works, expressed gratitude to the dedicated team and customers who have contributed to the retailer’s success. Nutgent offered valuable advice to aspiring dispensary owners, emphasizing the importance of understanding customers’ needs, fostering inclusivity, and actively engaging with the local community to address its challenges.

Housing Works’ impressive performance in its first six months serves as a notable benchmark for the cannabis industry in New York, demonstrating that a mission-driven approach coupled with a commitment to social equity can yield both financial success and societal impact. As more social equity retail licenses are granted, the stage is set for a diverse and vibrant cannabis marketplace that not only thrives economically but also uplifts marginalized communities across the state.