Customers who stood in long lines for the start of adult-use marijuana sales in New Jersey on April 21 bought about $1.9 million worth of cannabis and related products.
According to Bloomberg, 12,438 customers spent roughly $153 per purchase on the day New Jersey joined 17 other states and the District of Columbia as markets where recreational marijuana is legal.
On launch day, New Jersey regulators reported few initial glitches, although some customers had to stand in lines dozens of people long.
Meanwhile, according to Bloomberg, the state cannabis commission reported that medical marijuana dispensaries sold an estimated 64,000 ounces, or 4,000 pounds of MMJ over the past month.
Subscribe to the MJBiz Factbook
Exclusive industry data and analysis to help you make informed business decisions and avoid costly missteps. All the facts, none of the hype.
What you will get:
- Monthly and quarterly updates, with new data & insights
- Financial forecasts + capital investment trends
- State-by-state guide to regulations, taxes & market opportunities
- Annual survey of cannabis businesses
- Consumer insights
- And more!
Twelve of the first 13 MMJ dispensaries that received licenses to sell adult-use marijuana have opened their doors.
The 2022 MJBiz Factbook projects the New Jersey market will generate $625 million-$775 million in sales this year, growing to $2 billion-$2.4 billion a year by 2026.
