October Marijuana Sales Up 25 Percent From Last Year

Colorado marijuana sales continued at a record pace in October, according to the state Department of Revenue, up 25 percent from the same month in 2019.

Dispensaries tallied almost $199.8 million in sales across the state in October, DOR data shows. That number is slightly down from the $206.5 million worth of marijuana sold in September, but October's pot transactions are up big year-over-year in what has become a fruitful stretch for commercial pot. According to the DOR, this year's marijuana sales total through October of just under $1.75 billion is about $81.6 million away from breaking the record for annual pot sales in Colorado set in 2019. And there are two months to go.

From the beginning of the year through October, Colorado has collected a little over $318 million in tax revenue from marijuana sales, DOR data shows.

Marijuana users have been spending more money at pot shops during the pandemic, according to state sales and tax revenue figures in Colorado, Oklahoma, Illinois and other states with legalized marijuana. In Colorado, dispensaries reported over $1.4 billion in sales since March, when the state and local governments began issuing public-health orders related to the COVID-19 pandemic.

Colder months traditionally bring less demand for marijuana in Colorado, where sales traditionally peak in August and drop through the spring. Although 2020 is shaping up to follow that curve, the lows this year are still much higher than during any previous run.

Commercial marijuana analytics firms reported significant short-term spikes in dispensary sales last month in the days surrounding November 3's election. The marijuana industry also reported a big bump in sales on "Green Wednesday," legal pot's new version of Black Friday, which takes place the day before Thanksgiving.