“Customers purchased an estimated $17.9 billion in cannabis products from legal retailers in 2020 – up from $10.7 billion in 2019.”
Tag: retail sales
Maine voters initially approved the legalization of cannabis sales in November 2016 by passing a statewide initiative, but lawmakers – led by former Republican Gov. Paul LePage – repeatedly took steps to delay the law’s implementation.
“This is a victory for those who wish to disrupt the illicit marketplace and move forward with an above-ground, regulated cannabis marketplace.”
“The dramatic rise in retail marijuana sales is likely not so much a reflection of increased consumer demand, but of consumers shifting from the illicit market to the above-ground legal marketplace.”
Senate members passed an initial version of the bill in 2019, while House members passed an amended version of the measure in February.
Sales of adult-use cannabis products in Illinois rose over 20 percent in July to reach a record high.
“One unanticipated effect of the COVID-19 pandemic has been the growth acceleration of legal cannabis markets (and erosion of the illicit markets) in those states which have activated both medical and adult-use sales.”
Senate-backed legislation to regulate retail sales of marijuana to adults continues to advance in Vermont.