Colorado’s Colorado Department of Revenue data reported that cannabis shops notched sales of nearly $1.75 billion during 2019, setting a new annual sales record for the state home to the nation’s longest-established recreational cannabis industry.
The 2019 figures showcase a surprising surge in growth from a market that a year ago appeared to be flattening out. The profusion of edibles, beverages, vapes and concentrates resulted in a smaller market share for the familiar flower. Separately, people are growing comfortable with buying cannabis products and integrating those purchases into their shopping patterns, he said, noting recent BDS studies that showed increases in the number of adults who reported consuming cannabis in the prior six month period.
Colorado has the longest standing legal cannabis for recreational use record. Even with a relatively high tax rate (15% sales, 15% excise) recreational use is the bulk of consumption in Colorado.