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Marijuana Business News

Colorado Marijuana Sales Down Slightly In September

marijuana cash industry bankingLegal recreational marijuana sales started in Colorado at the beginning of this year. Sales kept climbing and climbing until September, which saw the first decline in sales. The decline was minor, and is likely related to the fact that September was a slow tourist month for Colorado. According to the Colorado Department of Revenue, there were $31.6 million in recreational marijuana sales and $32.4 million in medical marijuana sales in September. That still brought in a lot of tax revenue. Per CNN:

Colorado brought in $7.2 million in taxes and fees from recreational and medical marijuana sales in September. That’s down from $7.7 million in August. Colorado’s Department of Revenue only publishes tax data and not total retail sales of marijuana.

Toni Fox, owner of Denver dispensary 3D Cannabis Center, is nonchalant. She expects the numbers to reflect slow sales for October too. But she said demand is likely to rebound when the snow starts to fall.

“Once the ski resorts open, sales will pick back up again,” she said.

The snow season in Colorado is right around the corner, and I’d expect to see a dramatic spike in sales. And if not, the sales number are still very strong. Enormous sums of money have been generated for the state’s coffers, thousands of jobs have been created, and local economies in Colorado have benefited from all of it. I can’t wait until legal recreational marijuana sales start where I live in Oregon so we can start doing the same.

 

  • painkills2

    A lot of cannabis growing is still seasonal, but I’m thinking the newness of the situation in Colorado has worn off a little… which is probably a good thing. :)

  • RealityCheck

    This is the first year you can grow legally in Colorado, and September is harvest time for outdoor growers. I hope the prices will come down in Colorado as 2014 harvest hits the shelves. The current prices are still too high to compete with the black market successfully.

  • Lin

    Summer is over…..all the recreational tourists have gone back home
    It’ll probably pick up when ski season gets going.

  • Green Thumb

    Agree harvest time but still a little early to cure and all so maybe combination of all factors but looking to October and November the numbers may also be down as this is when the full brunt of the harvest will be ready to consume ……

    Also agree prices need to come down and they will but that will take several more years before they level off to a good price for both grower and consumer!

  • Valient

    I don’t understand why America feels that there should be eternally increasing profit as the only measure of success.

    • Bic

      It’s called Capitalism, which any rational human being such as yourself realizes is UNSUSTAINABLE and doomed to fail just like Communism. Look out America. (and China too)

  • Chad

    Stuff costs too much.

  • Chad

    What happened to everyone being broke? Where did all this money come from if no one had cash.

  • Barbara Gregg

    I let my license lapse and my $10.00/10 day (100 mg) candybar went to a $22.00/8 day (80 mg) candybar.

    A 20 minute pleasant doctor visit (thanks Doc Morrison) and my renewed license is (hopefully) in the mail. My consumption is not going to change, the revenue generated will.