We all know grocery stores are open – because, well, everyone has to eat. And with the orders to social distance all over the country in place, states do have some leverage when considering what essential business looks like.
Even as grocery stores have stayed open to feed us, businesses like gas stations, convenience stores, and even home improvement stores remain open in some locations, though with now limited hours.
But what of marijuana dispensaries? California and Colorado as of this writing have deemed them essential, along with liquor stores. Some states, like Michigan, have allowed the continuation of medical sales only.
After the initial stay at home orders began coming down cannabis sales spiked. But with limited hours and more people unemployed sales began to dip a few days later.
But even with the downturn some analysts in the industry predict that marijuana, like alcohol, will remain somewhat recession-proof. With record high unemployment all industries will invariably see negative impacts. Whether benefit from the CARES Act recently passed that will infuse money into the economy will trickle down to the cannabis industry is to be seen.