Business

COVID-19 Can't Stop Record-Breaking Weed Sales

COVID-19 Can't Stop Record-Breaking Weed Sales
Jacqueline Collins
As liquor stores see significant bumps in sales while we stay close to home during the COVID-19 pandemic, Colorado's marijuana industry is tallying the most financially successful months since recreational pot was legalized.

According to the state Department of Revenue, Colorado dispensaries sold just under $199 million worth of marijuana products in June, the highest monthly total since 2014. The previous record was set the month before, with dispensaries ringing up $192.2 million in sales in May.

Initial state projections had marijuana revenue falling this summer, citing less tourism and falling wages because of the COVID-19 pandemic. After a bumpy March and April that brought regulatory changes and statewide stay-at-home orders, though, marijuana sales began rebounding, combining to bring in over $390 million in May and June. That's about 25 percent higher than the total sales for the same two-month period in 2019.

Recreational weed sales are definitely on the rise this summer, according to DOR data, hitting $158.1 million in June, which more than offset the small decrease in medical marijuana sales, which dropped from $42.9 million in May to around $40.8 million in June.


Denver dispensaries accounted for more than $66.1 million in sales in June, according to the DOR, while Arapahoe County pot shops tallied over $16.5 million in transactions and Adams County stores accounted for $14.6 million.

Several Denver dispensaries have announced unusually profitable summers so far. The Dab, a west Denver dispensary, recently reported a 30 percent rise in sales over last year. Green Dragon, one of the state's largest dispensary chains, has reported an increase in sales across its fifteen Colorado locations, including stores in mountain towns like Telluride and Breckenridge.

click to enlarge 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