Colorado’s 4/20 Cannabis Slump

<a href="https://leafyleaks.com/tag/colorado/" class="st_tag internal_tag " rel="tag" title="Posts tagged with Colorado">Colorado</a>’s Regulated <a rel="nofollow" title="Cannabis" href="https://en.wikipedia.org/wiki/Cannabis">Cannabis</a> <a href="https://leafyleaks.com/tag/industry/" class="st_tag internal_tag " rel="tag" title="Posts tagged with Industry">Industry</a>: Worst 4/20 Sales in Five Years

Colorado’s Regulated Cannabis Industry: Worst 4/20 Sales in Five Years

Table of Contents

Introduction

Colorado’s regulated cannabis industry experienced a significant setback during the annual 4/20 celebration, recording its worst sales in five years. The Marijuana Industry Group (MIG) reported a roughly 14% decline in April marijuana sales compared to the previous year, marking the lowest sales figures since 2018.

April Sales Decline

The Colorado Department of Revenue released monthly figures showing a total of nearly $131.6 million in marijuana sales for April, down from $153 million in April 2022. This decline affected both recreational and medical cannabis sectors, with recreational sales experiencing a 12.8% year-over-year decrease and sales dropping by 21.6%.

Furthermore, the disappointing in April sales follows a challenging year in 2022, where Colorado’s legal recreational and medical marijuana retailers witnessed a more than 20% decline from the sales achieved in 2021.

Call for Regulatory Overhaul

MIG Executive Director Truman Bradley emphasized the urgent need for a to prevent further closures and layoffs among cannabis small owners. Bradley called on Colorado’s policymakers to adopt a new approach to marijuana , one that safeguards small business owners and the public programs funded by cannabis sales.

State of Colorado’s Cannabis Market

Despite being the oldest legal adult-use in the U.S., Colorado’s cannabis boom is now widely considered to be over. The industry’s challenges underscore the importance of adapting to evolving market dynamics and establishing supportive regulations to ensure its sustainable growth.

Malvin Felix
I'm Malvin, a cannabis news enthusiast who finds joy in staying updated about the latest industry trends. My passion led me to become a dedicated writer, entrepreneur, and investor in the cannabis space. Through my writing, I aim to educate and spark discussions, while my entrepreneurial ventures and strategic investments reflect my commitment to driving positive change in the industry.

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