In 2014, medicinal sales actually outpaced recreational sales, perhaps due to the initial supply shortages of recreational cannabis. It looks like the Colorado cannabis industry is increasing more than just sales and revenue—it is helping the Colorado economy. Overall, medicinal cannabis sales totaled just under $2 billion, a little under one-third of overall sales. During the same four year period which saw huge gains in recreational sales, medical sales dropped by 13 percent. That was the last year medicinal sales exceeded recreational sales.
There are no shortages of opinions or predictions when it comes to the cannabis industry. Thankfully, New Frontier Data, a leading cannabis analytics firm has just released a detailed report on the first four years of legal adult-use sales in Colorado.
Although voters legalized recreational cannabis when they approved Prop 64 in November of 2012, legal sales did not begin until January of 2014. Lawmakers spent the time in between approval and actual sales crafting and finalizing regulations.
The New Frontier report offers quite a bit to dissect, but we can start with covering some of...
Read the full article @ MG Retailer