After Slow April, Marijuana Sales Explode in May

After a slow April for Colorado dispensaries, marijuana sales rebounded in May, racking up the state’s highest monthly sales total since recreational pot shops opened in 2014.

According to state Department of Revenue data, Colorado dispensaries sold almost $192.2 million worth of marijuana products in May. That’s about 11 percent higher than the state’s previous monthly high of $173.2 million, set in August 2019.

Jumping 23 percent month over month from April (and the 4/20 holiday), May’s sales were boosted by $149.1 million in recreational transactions, also a new record for Colorado. Medical marijuana sales, which had been on a slow decline since recreational dispensaries opened in January 2014, continued their recent surge and also set a monthly record, with sales going from $26.6 million in February to almost $43 million in May.

Although state projections released in May had forecast decreasing marijuana industry tax revenue because of declining tourism and falling resident wages in response to COVID-19, marijuana sales have remained strong through 2020 and are on pace to surpass last year’s total – so much so that the Governor’s Office of State Planning and Budgeting has since revised those predictions.

Historic DOR data trends show that 2020’s high point could still be coming, as August has been the peak sales month for dispensaries five out of six calendar years since 2014.