30% Sales Surge for CO Recreational Marijuana Stores

Recreational marijuana stores in Colorado racked up $19.6 million in sales during March, an increase of nearly 30% over the previous month, according to the latest tax figures from the state.

Marijuana and infused products accounted for $19 million of that total, with the rest tied to ancillary products such as paraphernalia.

Colorado’s retail cannabis market has grown steadily since the first stores opened in January, when stores recorded $14.4 million in sales. During the first three months of the year, the state’s recreational shops have brought in nearly $50 million in revenues.

The percentage growth is a bit misleading, as there were 31 days in March vs. 28 in February. But average daily sales in March still rose nearly 15%, coming in at around $613,000 compared with $539,000 in February. That’s identical to the percentage growth from January to February.

Medical marijuana sales dipped for the first time in a while, with the state’s dispensaries recording $34.5 million in revenue during March compared with $35.2 million the previous month. Dispensary sales total roughly $100 million through the first three months of 2014.