Colorado marijuana dispensaries broke an annual sales record for the sixth straight year in 2019, and they're already on track for a new high in 2020.
According to data from the state Department of Revenue, Colorado dispensaries racked up just under $140 million in sales during the first month of the new year. Although that figure reflects a slight dip from December 2019's $143.75 million, January 2020's sales are easily the highest total for any January since recreational dispensaries opened in 2014, and more than 12 percent higher than January 2019's $124.9 million.
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Dispensaries typically see a seasonal dip in sales during the winter, bottoming out in February and then rebounding in March. However, the drop-off in sales from December to January is usually much larger than it was this go-around; buying at the start of the year was buoyed by the five Fridays on the January calendar (weekends are always sales boons for dispensaries). February should see another fall in sales month-to-month, according to historical data, but having five Saturdays on the calendar could help February 2020 break a record for all February sales, too.
Medical marijuana sales were also stronger than expected in January, accounting for $28.2 million — nearly $1 million more than the month before, and almost 9 percent higher than January 2019. Recreational sales saw a slight dip from December to January, falling a little less than $5 million, but still increased on an annual basis.