Colorado clears more than US$2 billion in cannabis sales in 2020

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Cannabis sales in Colorado set an all-time high in 2020, with consumers spending US$2.2 billion across the state, reports The Denver Post. Citing figures from the state Department of Revenue, Colorado will reportedly collect US$387.4 million in tax revenue from the sales. Canadian cannabis retail sales top $261 million in November AGCO offers update on cannabis delivery, curbside pick-up as parts of Ontario reopen A quarter of polled Canadians turned to cannabis last year during the pandemic Sales in 2020 were 25 per cent higher than in 2019, with analysts citing the pandemic as one of the factors driving the growth. “It’s good that in this really challenging year at least some of our industries are doing well,” Governor Jared Polis told The Denver Post . “It also shows that Colorado’s marijuana industry continues to lead the nation in excellence and innovation with additional measures like delivery.” Cannabis sales in Canada also reached record highs in 2020. Final figures for the year are not yet available, but sales nationwide have eclipsed the 2019 figures every month in 2020. In November 2020, the latest month available from Statistics Canada , retail cannabis sales in Canada reached more than $260 million, a 93 per cent increase from Nov. 2019, when sales totalled $135 million. Flower continues to be the leading product category across Canada, which was also the case in Colorado. According to figures from Headset, a U.S. data analytics firm, flower accounted for almost 50 per cent of all cannabis purchases in the state. “My guess is that customers typically see flower as one of the most cost-effective ways to purchase cannabis,” Cooper Ashley, a data analyst for Headset, told The Denver Post . “That goes right along with the trend of basket sizes and stocking up. We’ve seen a lot…

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Source : Colorado clears more than US billion in cannabis sales in 2020

reposted by Cannabis News World

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