After Initial Boost, Some Key States See a Decline in Pot Sales
The honeymoon is over. After an initial spike in commercial cannabis sales, driven by widespread coronavirus quarantines, recreational marijuana sales have slowed or fallen in three key states.
Point-of-sale data provided by Seattle-based Headset (summarized here by Marijuana Business Daily) found:
- A 47% drop in sales in Colorado between March 27-March 29 compared to the same weekend last year
- A 14% sales decline in Washington when compared to the same period last year
- A large drop in the rate of California sales increases over the prior year
In many cases, people simply stocked up enough product after the lockdowns were initially announced. In Colorado’s case, hits to the tourism industry appear to have affected the cannabis market significantly.