Revelry 2025: New York’s Cannabis Market Finds Its Stride

In September, Revelry returned to Pier 36 in Lower Manhattan for its second
year with a dazzling showcase that filled the massive event space. The
two-day event encompassed both an industry-only day and a public festival,
allowing brands not only to meet buyers and investors but also connect
directly with consumers amid live music and cultural programming.

Industry strategist Hirsh Jain called Revelry a barometer for the state’s
cannabis market. “Trade shows can be an effective way of taking the
temperature of a state’s cannabis market,” said the founder of Ananda
Strategy. “The energy at Revelry in New York City was palpable and seemed
to be a direct reflection of the remarkable growth that New York’s market
has seen this year.

Jain pointed to the sheer number of brands and retailers represented at the
show. In mature states, cannabis trade shows can feel subdued as businesses
consolidate or close, but in New York, the energy was different. “Revelry
felt just the opposite — brimming with energy, enthusiasm, and optimism
that New York’s cannabis market would continue to expand and create
opportunities for stakeholders of many kinds,” he said.

New York’s market has weathered challenges in the two and one-half years
since the first adult-use dispensary opened. Nevertheless, the state
generated more than $1 billion in recreational sales between January 2023
and December 2024.
Supply and demand challenges

By June 2025, New York regulators had licensed more than thirty-seven
dispensaries, but cultivation and processing capacity haven’t kept pace
with product demand. That mismatch is creating shortages in concentrates
and manufactured goods such as gummies and vapes and fueling what operators
call an “inversion problem” — a situation in which demand outpaces the
licensed supply. Until more extractors and cultivators come online, there
will be bottlenecks in the supply chain.

Karli Miller-Hornick, co-founder of Florist Farms and an early mover in New
York’s hemp and cannabis markets, is experiencing these growing pains
firsthand. At her Revelry booth, she pointed to the persistence of
inversion and the influx of cheap, out-of-state product undermining
licensed operators. She also underscored the need for enforcement. “You can
just look at the numbers to see how much was grown and sold; simple math,”
she said. “If you are going to set regulations, you need to enforce them.
For now, there are no consequences for illegal activity.”

Miller-Hornick supports the rollout of a long-delayed track-and-trace
system. Even though track-and-trace would create more work for cultivators,
she argues it could curb illicit activity and restore fairness to the
market.

Several exhibitors echoed Miller-Hornick’s concerns, especially concerning
concentrate shortages. According to Jain, “This reflects the fact that New
York’s supply chain is still immature and not yet able to satisfy the
robust demand for the variety of cannabis products New Yorkers want.
However, as more manufacturers become operational in the coming months, it
will likely reduce the frequency of inversion.”

Another factor contributing to the imbalance is the pressure on new brands
to establish themselves while they wait out the slow process of license
approval. Many are turning to white-label manufacturing as a stopgap to get
products on shelves quickly. Claudio Miranda, co-founder of Budist and a
longtime California operator who attended Revelry, observed this is a
common go-to-market strategy in new markets. “It’s an expedient way to get
your products to market for those who want to get in on this rapidly
developing market and start building brand awareness,” he said.
What New York can learn from mature markets

Headset’s Steph Woods observed New York’s cannabis market feels similar to
California and Canada during those markets’ early recreational days, with
operators repeating some of the same mistakes. One recurring issue, she
said, is many retailers still lean on manual spreadsheets rather than
adopting available tech tools that could streamline operations and free up
time for higher-level strategy, especially regarding procurement and
product assortment.

For operators, the key is to stay ahead of the curve by paying closer
attention to sales data. Woods stressed that reviewing performance at least
monthly is essential in a market evolving as quickly as New York’s.
Category leaders are shifting constantly, consumer preferences change
rapidly, and price compression already is taking hold.

Discounting, she warned, is a particular risk. While promotions may provide
a short-term sales bump, heavy discounting — which is common in markets
like Arizona — erodes margins and trains consumers to buy only when prices
drop. At the same time, larger multistate brands entering New York through
licensing deals or direct operations likely will bring both polished
playbooks and aggressive tactics, including paying shelf-space premiums,
that could tilt the playing field.

“The market is moving fast,” Woods said, “and the operators who use data
and disciplined strategies, not quick discounts, will be the ones
positioned to win.”
How New York’s cannabis consumer is evolving

Jody Cowan, a sales representative for Buffalo-based cultivator
Electraleaf, shared insights from his territory in western New York. He
said Native American tribal communities in the region are playing a
noticeably active role in consumer education, offering lessons about home
cultivation and teaching about indigenous growing practices that have been
honed for thousands of years.

Cowan said younger shoppers increasingly are well-informed about cannabis
science and terminology. Many already know what strain types or terpene
profiles they seek, and they can distinguish between different concentrate
types. “I’m finding my consumer base knows the difference between a live
rosin and resin, and they know their [terpenes]. They know the lingo,” he
said. At the same time, he sees more older consumers entering dispensaries
with questions about replacing or reducing pharmaceuticals, exploring
cannabis as an alternative therapeutic option.

Cowan praised Revelry’s decision to dedicate the show’s second day to
consumers, giving the general public a chance to meet brands directly and
learn more about the plant. “As an industry, we welcome the conversation;
we welcome all the questions,” he said, noting events like Revelry
accelerate the consumer learning curve and build stronger bridges between
brands and the people they serve.

Revelry’s two-day showcase captured both the promise and the growing pains
of New York’s cannabis industry. If the show proved anything, it’s that the
state’s market is more than an industry. It’s a community. Brands,
retailers, and consumers came together in Lower Manhattan to confront
challenges, share insights, and celebrate a future that feels within reach.
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Key Questions About Revelry 2025 and New York’s Cannabis Market

1. What is Revelry?

Revelry is a cannabis trade show and cultural festival hosted at Pier 36
in New York City, featuring an industry day and a consumer day.
2. What makes New York’s cannabis market unique?

The market is still young, with strong consumer demand, supply-chain
imbalances, and significant social equity participation compared to other
states.
3. What challenges are New York cannabis operators facing?

Operators report shortages of concentrates and manufactured products,
competition from illicit sales, and pressure to scale quickly.
4. How is Revelry different from other cannabis trade shows?

Revelry combines business networking with direct consumer engagement
through live music, cultural programming, and brand activations.