Jan 032014
 January 3, 2014
colorado marijuana sales

(csmonitor.com)

January 1st was a historic day in the world of marijuana, and it sounds like it was a very profitable day as well. According to media reports out of Colorado, on the first day that marijuana sales became legal, retail outlets made over 1 million dollars. The media reports are making it sound like it was 1 million dollars made (net), not sold (gross). However, they weren’t specific, so take that information for what it is.

Regardless of whether it was gross sales or net profit, the fact of the matter is that a lot of marijuana was sold yesterday. On opening day, there were 24 shops operating, mostly in Denver. The State of Colorado has issued 136 licenses for retail marijuana stores total, so more and more stores will open soon. Will that result in more sales, or just spread out current sales to more locations – only time will tell.

Prices for marijuana surged the last couple of days as supplies dwindled. I think that more stores coming online should hopefully result in less sticker shock for customers, but it’s hard to say. 136 stores statewide is really not that many when you really think about it, and there are multiple factors that will come into play.

Yes, there will be more competition when all the retail stores open. But will there be so much more competition that it balances out with demand? A lot of people traveled to Colorado to purchase marijuana the last two days, but there will be many, many more people traveling there in the future. Also, everyone that bought marijuana the last couple of days are no doubt smoking all of it, so repeat customers will be flooding stores here soon. Long lines could become the norm in Colorado even after the rest of the stores open.

I’m curious five years from now how many stores there will be in Colorado. I’m also curious how other states legalizing will affect business in Colorado. I know when Oregon legalizes, no one will be traveling out of state for marijuana, if they even do so now. States in the South and Midwest will have to wait longer for legalization, so they will still travel for marijuana, and since Colorado is going to be the closest state for awhile with legal marijuana, I’d imagine it will be the number one destination for legal marijuana even after other Western states legalize.

Hopefully my friends in Washington won’t have to wait too much longer before stores open up there. I’d imagine even though Washington will be second to roll out stores, the outpouring of cash from customers will be similar. Especially considering the fact that citizens in Colorado can grow their own instead of going into stores. Washington customers don’t have that same option.

About Johnny Green

Johnny Green is a marijuana activist from Oregon. He has a Bachelor's Degree in Public Policy. Follow Johnny Green on Facebook and Twitter. Also, feel free to email any concerns.
  • Sarijuana

    I think everyone is curious about how this will pan out in Colorado. My inclination is to believe it will all be as uneventful as the legalization for medical use. Gloom and doom was predicted, and it was all pretty much a non-event after things settled down.

    • Uncle Arthur

      Also the customers were very well behaved. No incidents or drama like you would get at WalMart on Black Friday. It made me very proud.

      • needabuzz

        That is great! We need to show the rest of society that using pot does not cause the problems that using alcohol does. Most people do not get in fights or get crazy and noisy when on pot – not like a lot of people do when using alcohol.

    • Toni Raska Sams

      I think it boost the economy, as well as open up work for people in all areas.

      • Ben H.

        Not to mention that the number of highly-stressed out CEOs could go down once they start smoking or drinking marijuana without risk of going to jail. And, with that, more productivity and creativity in the workplace! Just a thought.

  • Michael Scott Peterson

    Didn’t shock me at all the reality of it is that this should’ve happened a long time ago

    • aka Slim Shadily

      It’s kinda a bummer to me really though. I mean, what’s so special about Colorado that wouldn’t benefit THE REST OF FREE SOCIETY!? I’m glad they did it though.

  • 6onzalo

    hoping that peru will be legalized

    • xanderkale

      I’m pretty sure Peru is already legal. It’s on maps and everything.

  • jahwillprovide

    Colorado is the greatest place on earth and is paving the way for the rest of the world. Jah will continue to lead the people of Colorado to righteousness!

  • Wez2025

    world wide soon

  • Ken Olson

    As long as there isn’t people getting into tons of traffic accidents, or any other major increases in crime occur because of marijuana’s availability now in Colorado, the rest of the country/world will see how silly prohibition has been.

    • hempangle

      Haven’t people been smoking it for a year now out there?The Colorado dot says that accidents have gone down by 7% and accidents with fatalities have gone down 9-10%.I think most of us have seen the studies on driving while high on pot and it looks like the pot smokers are safer drivers.I’m a little to old to start another habit but i’d like to see someone get something out of this beside a jail cell.

    • StonedPirate

      Shit I’m even more careful when I’m driving high. You don’t want to call attention to yourself lol.

    • Will

      If a state legalizes marijuana, does that mean inmates doing time for marijuana charges will be released? And do the convictions come off ones’ record?

  • Juan Castro

    I love cannabis news

  • weedchicky

    I hope that it will spread to Canada.. at all the convenient stores so when you run out and no dealers are awake just go to the nearest 7-11 and get some! Omg… legalize it Canada!!

  • weedchicky

    I hope that it will spread to Canada.. at all the convenient stores so when you run out and no dealers are awake just go to the nearest 7-11 and get some! Omg… legalize it Canada!!

  • weedchicky

    I hope that it will spread to Canada.. at all the convenient stores so when you run out and no dealers are awake just go to the nearest 7-11 and get some! Omg… legalize it Canada!!

  • Archangel

    Man this is great news but $35 – $70 for an eighth is a little steep innit? I’d like to be able to smoke without limiting it to a twice a year event. Somebody tell me we can expect those prices to come down in the future, or else I’ll have to start growing my own.

    • Beaumont

      theres around a 29% tax on marijuana purchases so the price will definitely be a bit expensive but hey, I’d shell out the extra cash if it means I don’t have to worry about getting harassed.

  • JohnTodder

    I love reading all these posts and telling my friends. Then they argue with me about the facts based on what they’ve heard an not researched themsves… There’s so much knowledge on the internet. At least I find this as a credible source.

  • MrPC

    Drove by a retail cannabis store mid-afternoon today (3rd day of legal sales) and there were at least 50 people in line. I wonder how long the lines would be if there were only 18 retail liquor stores in Denver?

  • Shaun Wayne

    U guys r lucky, its still against the law here to have any weed, in Canada

  • Ken Fletcher

    People that buy in Colorado who travel there, do so because its legal in that state. Once bought, do they have to consume it immediately, or definitely before they leave the state? I can imagine car loads of police at each state line waiting to bust anybody who bought or has used in their brief visit.Good luck people!!!

    • guest

      From what I’ve read it’s not to be allowed to leave the state at all under threats of federal action against Colorado if it happens on a regular basis. As in, if they can show enough people coming out of Colorado with weed (bought legally in Colorado but obviously still illegal outside of the state) they can bring down the hammer and try and repeal the state law. Good luck folks, hopefully it’s another step forward

      • Mjj

        The person who crosses the state line with weed is in trouble, not the state. You will be prosecuted by the feds and the state of which you traveled too. Amendment 64 is in our Colorado constitution and can not be removed, end of line. CO weed stays in CO or be prepared to pay the piper.

  • bomb squad eh

    hey

    • bomb squad eh

      whats a qp of sour disel going for

      • Cheryl Wolfe

        in Ontario $200 Canadian dollars

  • needabuzz

    What are the laws on where the stores can get their stock? Do they have to buy from legal growers? Did growers have time to gear up for the grand opening?

    • pat

      i seen a interview, apparently in colorado it has to be from an approved source by the state

  • sherry

    I will be glad when Missouri at the very least gets it for medical✳