Correction: An earlier version of this story incorrectly stated that the main sales figures involved solely retail store transactions, when in fact the numbers include revenues generated by producers and processors as well.
Washington State’s recreational marijuana industry closed out 2014 on a high note, posting a 5% spike in revenues for December and record sales activity on New Year’s Eve.
Recreational cannabis revenues hit $16.9 million in December, up from $16.1 million in November, according to the latest data from the state. The figures include sales via dispensaries, producers and processors.
Revenue hit $1.2 million alone on Dec. 31, surpassing the previous high of $1 million set the day before Thanksgiving.
But the pace of growth slowed on a month-to-month basis, as revenues in November had ballooned a whopping 24% after a surge in activity over Thanksgiving week.
The state’s recreational marijuana industry – which launched in early July – generated $65.3 million in overall marijuana sales and $16.3 million in excise taxes for the year.
Sales from retail stores to customers in particular have been surging, rising 26% increase in December vs. the previous month to hit $13.3 million.
Retail sales got off to a slow start in Washington, as only a handful of stores were able to open at first. The industry also grappled with supply issues and other challenges that limited growth.
Still, rec sales via retail stores have risen each month since July, when revenue totaled $2.6 million.
