Business

Colorado Marijuana Sales Continue Breaking Records in August

Colorado Marijuana Sales Continue Breaking Records in August
Jacqueline Collins
Colorado's marijuana industry continued to break records in August, according to the state's Department of Revenue, with legal marijuana sales bringing in over $141.3 million that month.The previous record had been set just the month before.

Sales began to rev up in June, DOR data shows, when overall dispensary revenues hit $129.5 million after a slow start to the year. Even more money was spent on pot in July, when the industry brought in a then-record $138.5 million, just beating out August 2017 for the highest monthly total since recreational marijuana sales began in January 2014.

As with June and July, August's numbers were pushed by increasing recreational sales, which hit just under $113 million: the highest retail pot sales in Colorado history. Medical sales also increased, though, rising just under $1 million month-over-month to $28.3 million. That's two straight months of increasing medical marijuana sales, right after MMJ hit its lowest number since 2014 in May.

Marijuana sales generally peak in August or September in Colorado, with earnings dropping as the temperature does. So far, however, it looks like commercial sales in California, which began in January 2018, haven't cut much into Colorado's business.

COLORADO DEPARTMENT OF REVENUE
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