After a slower April than expected, Colorado marijuana sales rebounded in May. According to Colorado Department of Revenue data, May 2019 tallied the highest monthly total since recreational sales began in January 2014.
Colorado dispensaries sold just over $143.1 million in marijuana products in May, not quite $1 million more than the previous monthly sales record set in March.
But May's sales were $7 million over April's, despite the 4/20 holiday that month. A dispensary sales tracking expert explained that gap by noting that this past April had fewer weekends than surrounding months, which impact marijuana purchasing habits more than holidays do. This year, May had one more Friday and an extra day on the calendar than April.
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Recreational sales accounted for $113.6 million in May, DOR data shows, while medical sales accounted for just under $29.5 million. Overall sales from increased around 14 percent from May 2018, with medical sales showing slight increases both month-over-month and annually.
Historical DOR data indicates that dispensary revenue increases during summer months, with March and April sales still thawing from a winter decease in activity. Sales generally peak in July or August, so we could be in store for more monthly records as the year goes on.
As of May, Colorado dispensaries have made around $666 million in sales. If this year's pace holds, 2019 will be another record-breaker for annual revenue.