Colorado hashish gross sales have declined 32% since their report excessive of $226 million in July 2020, falling to $153.68 million in Might, KRDO reviews. The report July 2020 gross sales have been realized within the midst of the coronavirus pandemic.
Adam Orens, the founding father of MPG Consulting, the agency contracted by the Colorado Division of Income to trace marijuana gross sales and tendencies, advised KRDO that the state has reached “market maturity” for the hashish sector however added “it’s extra about COVID than anything” as folks return to work and their regular lives. Orens additionally identified that different states that border states the place prohibition remains to be the regulation of the land have enacted their very own legalization reforms.
“A metropolis like Trinidad’s gross sales, or Pueblo’s, will decline, as a result of of us which may be coming from Dallas (Texas) can go someplace in New Mexico as an alternative.” — Orens to KRDO
Tom Scudder of EmJ’s Dispensaries advised KRDO that medical hashish gross sales are down 50% over the previous yr and are at their lowest ranges since 2013. He stated he’s needed to lay off 27 folks of their develop facility and 6 of their retail retailer.
“They suppose we’re all getting wealthy, and issues are going terribly effectively,” he stated, “however in the event you’re on the within of the trade, you perceive the cruel actuality that we’re coping with proper now, and it’s a fairly robust scenario.”
Tiffany Goldman, chairman of the Marijuana Trade Group (MIG), believes, nonetheless, that the gross sales slowdown is unrelated to the pandemic, however moderately the passage of a measure final yr that limits the quantity of concentrates that may be bought day by day. The measure diminished these limits from 40 grams per day to eight grams, meant to cut back teen consumption.
MIG estimates that if the gross sales downswing continues, Colorado will lose $80 million in tax revenues in comparison with these realized final yr.
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