Business

Dispensary Sales on Track to Eclipse 2017 Despite Recent Dips

Jacqueline Collins
Colorado marijuana sales continued sliding in October, according to the state Department of Revenue, falling nearly 5 percent from the amount sold in September.

The state's dispensaries saw just over $129.2 million in sales in October — over $6 million less than sales the month before. However, DOR numbers show that October 2018 numbers were still higher than October 2017 sales, but just under $2 million.

According to DOR data, Colorado dispensary sales totaled nearly $1.3 billion in the first ten months of 2018, and are on pace to beat 2017's tally of $1.5 billion...if just barely. November and December collections would need to reach about $220.7 million combined to top last year. That's likely to happen if current trends continue, but watch for winter dip in early 2019.

Recreational pot sales totaled about $101.3 million in October, falling almost 6 percent from September — but rising over 8 percent from October 2017. Although medical marijuana sales actually rose from September to October, when they brought in $27.9 million, they were still significantly lower than last year's October sales, down about 18 percent.

Colorado marijuana sales broke earnings records in July and August but started dropping in September and continued that fall in October. According to DOR data, sales have traditionally fallen after the summer months —  after tourism ends and the big harvests begin.

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Colorado Department of Revenue
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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