Colorado marijuana shops ring up nearly $120 million in sales in November

By Alicia Wallace, The Cannabist Staff

The pace of Colorado marijuana sales in November continued to ease from a breakneck sprint to a brisk walk.

Marijuana shops sold $119.6 million of recreational and medical cannabis — flower, edibles and concentrate — last November, a 9.5 percent increase from November 2016, according to data released Wednesday by the Colorado Department of Revenue.

November’s monthly sales, which consisted of $87.7 million of recreational product, included the third-lowest monthly total for medical marijuana sales in 2017, of $31.9 million

Eleven months through 2017, sales climbed to $1.38 billion, surpassing the $1.31 billion recorded in the entirety of 2016. Through November, the annual sales growth rate continued to narrow, dropping to just under 16 percent.

Growth rates have continued to drop since the spring of 2017.

The November sales data released Wednesday was the first new monthly sales report released since the state announced Dec. 12 that it would publish official sales data for the marijuana industry.

Previously, The Cannabist — in an effort to provide comprehensive coverage of Colorado’s first-of-its-kind legal adult-use cannabis regime — developed formulas verified by state officials and economists to tabulate monthly sales estimates from the monthly reports of marijuana tax collections.

Alicia Wallace joined The Cannabist in July 2016, covering national marijuana policy and business. In her 14 years as a business news reporter, her coverage has spanned topics such as the economy, natural foods, airlines, biotech, retail,…