New statistics tracking Colorado cannabis sales indicate continued strength. Over the last 12-month period, sales reached $1.4 billion, resulting in nearly $223 million in taxes and license fees for the state. And for the twelfth consecutive month, Colorado cannabis sales have topped $100 million. Bethany Gomez of Brightfield Group, a market research firm focused on the cannabis industry, said “I think that $100 million a month (in sales) are the new norm.”
In the month of May alone, Colorado sales of flower, edibles, and concentrates reached almost $128 million – but that’s not unprecedented. The record was set in March of this year when sales totaled $131.7 million.
Also of note is the light shed on medical vs. recreational sales. In May of 2014, retail sales accounted for 40% of monthly sales while medical sales were the lion’s share at 60%. Fast forward three years and those figures have more than reversed. Recreational sales in May 2017 accounted for 70% while the medical share in statewide sales was just 30%. The number of medical card holders has declined, as well. As of May 31, 2017, about 87,000 patients were registered in the state’s medical cannabis program. That’s down from almost 107,000 a year before.
Other changes are reflected in the stats involving the type of cannabis products sold. Over the course of last year, sales of flower fell from 85% of product sold to 64% while the sales of edibles, concentrates, and other infused products have increased.
At The Green Solution®, we’re proud to be industry pioneers. We started our business on the idea of helping medical cannabis patients find relief for their ailments, and we’ve kept pace with the changes in the industry. While subjecting all of our products to the rigorous testing that’s required of retail cannabis, we still welcome medical card holders to TGS and offer them a 15% discount every day.
It’s just another way that TGS stays at the forefront of the cannabis industry.