Colorado, which legalized recreational cannabis about 10 years ago, has now seen its sales decline on a year-over-year basis for 10 months.
According to Westword, the state’s dispensary sales for March totaled $162.5 million, up from $145.3 million in sales in February but significantly lower than the $207.1 million reported for March 2021. While both recreational and medical cannabis sales rose in March compared to February, medical sales saw their third-lowest monthly total since 2014.
The Colorado Department of Revenue said that total cannabis sales in the state total $458,893,136 through the first three months of 2022. Last year, total sales hit $2,228,994,553, up slightly from the total for 2020.
Of course, the current figures for 2022 cannabis sales in Colorado don’t include April 20, a cannabis holiday that typically helps drive sales for dispensaries and could help accelerate annual growth rates. However, Westword cites two analyst reports suggesting that at least two Colorado dispensaries saw smaller crowds on 4/20 than in past years.