After setting records in July and August, recreational and medical marijuana sales in Colorado have decreased for two consecutive months, a possible sign that the heady days of growth are coming to a close.
Overall sales fell by nearly 16% in October on a month-over-month basis, coming in at around $80 million. That followed a 5% dip in September, when sales totaled about $95 million.
The decline in September and October came after the state’s marijuana industry posted record sales of $100.6 million in August.
Still, business remains strong in general: October marks only the fifth time that combined sales have broken the $80 million barrier, Colorado Public Radio reported.
Rec and medical sales have decreased fairly equally, with both declining by about $3 million from August to September, and by roughly $7 million each from September to October.
Observers theorized that the drop in sales could be attributed to a parallel plunge in the number of tourists as Colorado transitions from summer tourism to the winter ski season. Home grows could also be part of the equation, since September and October are prime harvesting months.
Through October, combined marijuana sales figures are at about $814 million, according to the Cannabist, surpassing the $700 million the industry raked in last year.
The state recorded almost $11.3 million in tax and license proceeds in October, nearly a 48% increase from the same month a year earlier.