Published: Jul 13, 2017, 6:53 am Updated: Jul 13, 2017, 10:21 am
May was another milestone month for Colorado cannabis sales.
The $127.7 million of flower, edibles and concentrates sold at the state’s marijuana shops in May didn’t set a record for monthly sales, though. That honor still goes to March of this year, when sales totaled $131.7 million, according to The Cannabistâ€™s extrapolations of Colorado marijuana taxes and fees data.
May’s benchmark, rather, is one of consistency.
It marked the 12th consecutive month that Colorado marijuana sales topped $100 million.
I think that $100 million a month (in sales) are the new norm, said Bethany Gomez, director of research for Brightfield Group, a market research firm focused on the cannabis industry.
Through May, the industry’s sales neared $620 million, generating close to $96 million in taxes and fees revenue for the state, The Cannabist’s calculations show.
Total sales for the first five months of 2017 were up roughly 27 percent from those tallied during the same period last year, representing a comparable year-to-date growth rate to that notched in April 2017.
Colorado’s marijuana industry remains in expansion mode, Gomez said, but the sales trends are indicative that the state’s market is approaching maturity.
Gomez echoed other analysts past statements to The Cannabist that Colorado’s marijuana industry is approaching a plateau and should expect a deceleration in growth rates but not necessarily a decline in sales.
That time of massive growth expansion in Colorado, I think, is over, she said.
This story is developing and will be updated.
Sales stats for Colorado weed
A month-by-month look comparing sales of recreational and medical marijuana, as calculated by The Cannabist:
2017 Recreational total (5 months)
2017 Medical total (5 months)
2016 Recreational total (12 months)
2016 Medical total (12 months)
more recommended stories
- Philippine Police Kill 32 In ‘Shock And Awe’ Drug Raids
Philippine police have killed 32 people.
- Massachusetts – MPP
Legislative battle ends with compromise; implementation.
- Millennial Parents and Their Kids Love Smart Speakers, but Data Privacy Issues Persist
http://www.adweek.com/wp-content/uploads/2017/08/voice-family-parents-PAGE-2017-652x367.jpg | 11 hours ago Google.
- 10 surprising spaces in California being converted into cannabis businesses
Published: Aug 15, 2017, 3:40 pm.
- Massachusetts Supreme Court Becomes First State Court to Find Employers Must Accommodate Use of Medical Marijuana
As the number of states legalizing.
- Dierbergs Markets Issues Allergy Alert on Undeclared Fish (Bonito and Cod), Lobster, Crab, Shrimp, Soy and Wheat in Product
St Louis-based Dierbergs Markets is recalling.
- Litehouse Inc. Issues Allergy Alert on Undeclared Egg In Product
Litehouse Inc. is voluntarily recalling a.
- Estimating Appliance and Home Electronic Energy Use
Our appliance and electronic energy use.
- CCTV footage Shows Deputies Torturing Young Man with Taser in Ashland City
CHEATHAM COUNTY, Tenn. (WKRN) – A.
- Volunteers Sought For Reading Of The Names At The Vietnam Memorial On It’s 35th Anniversary.
When the Vietnam Veterans Memorial was.