Illinois adult-use marijuana sales flat in May at $130 million

Adult-use marijuana sales in Illinois are flat and on pace to reach roughly $1.5 billion this year, only about a 10% increase from 2021, according to the most recent state figures.

May sales totaled $129.8 million, off just slightly from sales of $131.8 million in April and $131 million in March, according to data reported by the Illinois Department of Financial and Professional Regulation.

Out-of-state residents accounted for nearly a third of the sales.

December 2021 so far has been the top adult-use sales month for Illinois, with $137.9 million in transactions.

Adult-use marijuana sales then slumped in January and February to $117.3 million and $114 million, respectively.

Illinois recorded $1.38 billion in sales in 2021, and the 2022 MJBiz Factbook earlier this year projected sales in the state would reach $1.9 billion-$2.3 billion in 2022.

Inflationary pressures might be curbing consumer spending in Illinois. In addition, cannabis retailers around the U.S. are increasingly discounting products.

The state’s adult-use industry is controlled by legacy medical marijuana operators.

Illinois has now issued dozens of cultivation and processing licenses to equity applicants, but those entrepreneurs are still in the process of developing their businesses.

Source: https://mjbizdaily.com/illinois-adult-use-marijuana-sales-flat-in-may-at-130-million/