{"id":9237,"date":"2020-07-13T20:32:00","date_gmt":"2020-07-13T20:32:00","guid":{"rendered":"https:\/\/www.denverpost.com\/?p=4167667"},"modified":"2020-07-13T20:32:00","modified_gmt":"2020-07-13T20:32:00","slug":"colorado-cannabis-sales-hit-new-all-time-high-in-may-at-more-than-192-million","status":"publish","type":"post","link":"https:\/\/cannitrol.com\/blog\/colorado-cannabis-sales-hit-new-all-time-high-in-may-at-more-than-192-million\/","title":{"rendered":"Colorado cannabis sales hit new all-time high in May at more than $192 million"},"content":{"rendered":"<div id=\"wp_fb_like_button\" style=\"margin:5px 0 5px 5px;float:right;height:100px;\"><script src=\"http:\/\/connect.facebook.net\/en_US\/all.js#xfbml=1\"><\/script><fb:like href=\"https:\/\/cannitrol.com\/blog\/colorado-cannabis-sales-hit-new-all-time-high-in-may-at-more-than-192-million\/\" send=\"true\" layout=\"standard\" width=\"450\" show_faces=\"false\" font=\"arial\" action=\"like\" colorscheme=\"light\"><\/fb:like><\/div><div class=\"media_block\"><\/div>\n<div><img src=\"https:\/\/cannitrol.com\/blog\/\/wp-content\/uploads\/2020\/07\/colorado-cannabis-sales-hit-new-all-time-high-in-may-at-more-than-192-million.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><a href=\"https:\/\/www.denverpost.com\/2020\/07\/13\/colorado-cannabis-marijuana-sales-record-high\/?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+dp-news-marijuana+%28Denver+Post%3A+News%3A+Marijuana%29&amp;utm_content=Google+UK#comments-anchor\"><span class=\"spot-im-replies-count\" data-post-id=\"4167667\" \/><\/a><\/p>\n<p>Cannabis sales in Colorado set a new monthly record in May, hitting their highest level since recreational sales began in 2014.<\/p>\n<p>Dispensaries <a href=\"https:\/\/www.colorado.gov\/pacific\/sites\/default\/files\/0520_MJSalesCalendarReport_PUBLISH.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">sold $192,175,937 worth of products<\/a> in May, according to data from the Department of Revenue\u2019s Marijuana Enforcement Division. That\u2019s up about 29% from April and an increase of 32% from May 2019.<\/p>\n<p>Sales at both medical and recreational pot shops hit monthly all-time highs, at $42,989,322 and $149,186,615, respectively. Collectively, both sectors have sold more than $779 million in 2020 and paid more than <a href=\"https:\/\/www.colorado.gov\/pacific\/sites\/default\/files\/0620_MJTaxCalendarReport_PUBLISH.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">$167 million in taxes and fees<\/a> to the state.<\/p>\n<p>Roy Bingham, co-founder and executive chairman of BSDA analytics firm, said a confluence of several factors caused by the pandemic are likely causing the increase in sales. For one, many people may have more leisure time and are spending more time at home, where cannabis is typically consumed. Existing marijuana consumers also\u00a0are buying more each time they go to the dispensary, a trend that started with stocking up in March when Colorado went under a statewide stay-at-home order.<\/p>\n<p>\u201cEveryone has perhaps become more used to consuming a little more,\u201d Bingham said.<\/p>\n<p>After losing market share to products like edibles, flower is seeing a rebound in sales likely driven by drops in price, he said. According to BDSA, cannabis buds were going for $4.37 per gram in May, down from about $4.71 per gram in January.<\/p>\n<aside class=\"related right\" \/>\n<p>\u201cIt\u2019s beginning to look like cannabis is anti-recession, or at least COVID-recession resistant,\u201d Bingham said, adding Colorado has experienced \u201cspectacular growth\u201d this year.<\/p>\n<p>Liz Connors, director of analytics for Headset, which also tracks consumer trends, expects sales will continue to build on that in June and July as tourism increases.<\/p>\n<p><a href=\"https:\/\/www.denverpost.com\/2020\/03\/23\/coronavirus-colorado-marijuana-dispensaries\/\">Dispensaries in the Centennial State were deemed essential businesses<\/a> during the early days of the pandemic and the statewide stay-at-home order. So far, monthly cannabis sales this year have consistently outpaced 2019, <a href=\"https:\/\/www.denverpost.com\/2020\/02\/18\/colorado-marijuana-sales-2019\/\">which was the highest-grossing year on record<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"media_block\"><\/div>\n<p>Cannabis sales in Colorado set a new monthly record in May, hitting their highest level since recreational sales began in 2014. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5062,52,7347,6811,6813,77,5577,2437,6858,9,5019,1,3,61,1736],"tags":[5063,2632,7348,6816,6818,2655,5580,2443,6860,5022],"_links":{"self":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/9237"}],"collection":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/comments?post=9237"}],"version-history":[{"count":0,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/9237\/revisions"}],"wp:attachment":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/media?parent=9237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/categories?post=9237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/tags?post=9237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}