Business

February Pot Sales Figures the Lowest in a Year

February Pot Sales Figures the Lowest in a Year
Kate McKee Simmons
February was the Colorado cannabis industry's lowest-selling month in a year, according to the Colorado Department of Revenue, but that wasn't surprising, given overall trends since recreational marijuana was legalized. Medical marijuana sales figures, however, might be more significant.

click to enlarge COLORADO DEPARTMENT OF REVENUE
Colorado Department of Revenue
Overall sales for the cannabis industry were $112.5 million in February, down $5.48 million from the month before but nearly $6 million higher than February 2017. And if past performance is any indication, sales figures should rebound in March.

According to the DOR, Colorado cannabis sales have dropped from January to February every year since 2014, when retail sales began, then shot back up in March. January and March both have three more days than February (except during leap years). While that might not seem like a big difference, it's a 10 percent increase in sales opportunities, but pot revenue dropped less than 5 percent between January and February.

Retail sales totaled $85.9 million in February 2018, while medical sales were just $26.6 million — the lowest figure since the DOR began tracking medical sales figures in 2014.


KEEP WESTWORD FREE... Since we started Westword, it has been defined as the free, independent voice of Denver, and we'd like to keep it that way. With local media under siege, it's more important than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" program, allowing us to keep offering readers access to our incisive coverage of local news, food and culture with no paywalls.
Thomas Mitchell has written about all things cannabis for Westword since 2014, covering sports, real estate and general news along the way for publications such as the Arizona Republic, Inman and Fox Sports. He's currently the cannabis editor for westword.com.
Contact: Thomas Mitchell