Indopedia All Things Marijuana
After only 10 months, Colorado cannabis retailers have already broken 2019’s record for single-year sales.
Marijuana Sales in Colorado: By the Numbers
By the end of 2018, Colorado’s cannabis market appeared to be flattening out. Transactions were growing, but price compression caused the year-over-year growth rate from 2017 to 2018 to fall to a meager +2.5%. But then, with changing consumer behavior and an influx of new non-flower products, cannabis sales began to surge. Pot retailers’ sales skyrocketed past projected figures, and by the end of the 2019, sales had increased by 13% over the previous year – with the state selling nearly $1.75 billion worth of marijuana products.
Now, a year later, and Colorado is crushing previous records once again. According to figures presented by the Department of Revenue, October marijuana sales in Colorado climbed to over $199.7 million – approximately $170 million in adult-use recreational products and $38.8 million in medical marijuana products. That massive number adds to the already impressive total reported by the state in previous months, bringing Colorado’s current total sales to a bit over $1.8 billion. With November and…
