Colorado’s Cannabis Market Faces Lowest Sales Since 2015, Leaving Some to Wonder If Coloradans Have Moved On
SOURCE: THELOBBY-CO.COM
Colorado's cannabis market experienced a significant decline in November 2023, reaching its lowest sales level since February 2015. This downward trend has continued for several months, according to data from the state's Department of Revenue.
In November, both recreational and medical cannabis sales amounted to $110.3 million, marking the fourth consecutive month of decline. The adult-use market, which constitutes approximately 87% of total sales, saw a year-on-year decrease of around 16% to $95.8 million. Additionally, medical cannabis sales fell by 11.5% to $14.5 million.
The decline in sales can be attributed to a decrease in the number of growers and manufacturers operating in the state. This reduction in supply has had a direct impact on the overa...