Marijuana Revenue Starting to Slow in Comparison to 2020

Colorado marijuana sales rebounded in July, according to the state Marijuana Enforcement Division, but 2021's overall sales figures are starting to suggest that this year might not be as strong as 2020.

Recreational sales accounted for nearly $168 million in July, according to the DOR, while medical sales were slightly over $35 million.

July's $202.8 million in overall marijuana sales was about 11 percent lower than the same month in 2020, however, and that marks the second month in a row to register declining sales year-over-year. Still, this summer has some big numbers to go up against, since 2020's summer of COVID-19 produced record-setting sales numbers for Colorado's pot industry.

Despite the recent dips, 2021 is still technically on track to beat 2020 sales. At this point in 2020, dispensaries had reported just over $1.2 billion in sales through July. Through the first seven months of this year, stores have tallied more than $1.3 billion. But the summer of 2020 is when sales really took off.

From May through July of last year, Colorado dispensaries sold nearly $620 million worth of marijuana products, on their way to almost $2.2 billion in sales for 2020. During the same span this year, pot shops brought in just under $585 million.

Does that slowdown signify that Colorado won't have another record-breaking year? It's too early to say for sure.