2020 is already the highest-selling year for weed in Colorado – Cannabis Business Executive

And the year isn’t even over yet

Colorado dispensaries sold more marijuana in the first 10 months of 2020 than they did during a record-setting sales year in 2019.

October sales totaled more than $199.7 million in October, pushing the state’s annual revenue to more than $1.8 billion, according to the Department of Revenue. By comparison, sales totaled about $1.75 billion in 2019, making this the highest selling year since recreational weed hit the market in 2014.

Sales were poised to crush the record following several lucrative summer months, despite the ongoing coronavirus pandemic. Colorado hit an all-time monthly high in July with $226 million in sales. That was also the first time monthly totals surpassed $200 million.

Consumers purchased about $170 million worth of recreational cannabis and about $38.8 million worth of medical marijuana in October. That’s down 3.2% compared to September, but up nearly 33% compared to October 2019.

The state collected roughly $35.4 million in taxes and fees during the month. [Read More @ The Denver Post]