Colorado cannabis sales on track to drop below 2022 levels
Colorado marijuana sales are forecast to be 12% lower in 2023 than last year, based on sales data collected so far this year by the Department of Revenue.
Colorado marijuana sales are forecast to be 12% lower in 2023 than last year, based on sales data collected so far this year by the Department of Revenue.
Colorado’s regulated cannabis industry suffered its “worst 4/20 in five years,” according to the Marijuana Industry Group, citing a roughly 14% decline in April marijuana sales from the same month last year.
Retail sales of legal marijuana in Colorado were worth slightly more than $139 million in December 2022, bringing the state’s medical and recreational sales total for the year to almost $1.8 billion – a significant drop from 2021’s record high.
Total cannabis sales in Colorado reached only $150.4 million in August, a 2.2% decline from the previous month.
Colorado’s medical marijuana sales in July were the lowest since adult-use sales began in 2014, reaching only $18.3 million in the month.
Numbers from the Colorado revenue department show recreational and medical marijuana sales continuing a downward trend compared to this time last year.
Medical and recreational marijuana sales in Colorado totaled only $145.3 million in February 2022, according to Department of Revenue data.
Cannabis sales in Colorado have declined for three months in a row and are off nearly 12% compared to the same period a year ago, according to state data for October.
Sales of recreational marijuana in Colorado continued to climb during the summer months, even while tourism revenue tumbled more than 50% because of the coronavirus pandemic.