Business
Massachusetts adult-use marijuana sales top $4 billion since launch
Marijuana retailers in Massachusetts have eclipsed $4 billion in sales since the state launched adult-use retail in November 2018.
The state Cannabis Control Commission (CCC) pulled the data, which is through Jan. 22, from 265 stores and 14 delivery businesses throughout Massachusetts, according to This Week in Worcester.
“Consumers’ demand for tested, quality cannabis products remains strong since Massachusetts became the first East Coast state to open adult-use stores in 2018 and delivery service in 2021,” CCC Executive Director Shawn Collins told the news outlet.
Expanding the number of licensed dispensaries and delivery providers helped drive gains from a year ago, when data showed sales of $2.5 billion.
Over the course of 2022, 71 retailers and seven delivery providers entered the market, generating combined sales of $1.4 billion in the calendar year, This Week in Worcester reported.
Despite the strong gains, the Massachusetts market has not been immune to industry challenges, as prices across several sectors declined up to 50% in December year-over-year.
The market also recently experienced its first dispensary closure since recreational sales began in 2018.
Source: https://mjbizdaily.com/massachusetts-adult-use-marijuana-sales-top-4-billion-since-launch/