Illinois Sets Yet Another Record For Monthly Marijuana Sales, With Retailers Citing A Lollapalooza Boost

MJ moment

Sales of legal marijuana in Illinois last month again broke the state’s all-time record, with nearly $128 million in total recreational receipts, according to the state’s Department of Financial and Professional Regulation (IDFPR). That’s more than $10 million higher than the state’s previous monthly sales record, set in May, and more than double the total monthly sales from a year ago. It’s the latest sign that the state’s popular cannabis program is continuing to thrive despite the ongoing pandemic and growing economic uncertainty. Illinois Department of Financial and Professional Regulation All told, consumers bought 2,802,124 individual cannabis items in July—another monthly record. Of the $127,794,220.50 in total purchases, IDFPR reported, in-state residents accounted for about 69 percent, or about $85 million. Out-of-state residents made up the other $42 million. The Chicago Tribune attributed the monthly boost largely to out-of-state visitors who arrived in droves for the Lollapalooza music festival held in Chicago earlier this month. Retailers in nearby River North and the West Loop told the paper they saw sales go up by as much as 50 percent. “Summer tourism and the Lollapalooza attendees were strong contributors to July’s out-of-state sales,” said Jason Erkes, a spokesperson for Cresco Labs, which operates Sunnyside Dispensary, the nearest retailer to the festival. “We saw thousands of festivalgoers over the weekend at our River North store, making it our biggest weekend to date.” Sales to in-state residents also saw a significant increase, climbing more than $6 million from June. The new figures do not include sales of medical cannabis, which are tracked separately by a different agency. July marks the fifth consecutive month that sales in Illinois’s adult-use market have topped $100 million. If the trend continues, the state is on track to see more than $1 billion in adult-use marijuana sales in 2021. That would…

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Source : Illinois Sets Yet Another Record For Monthly Marijuana Sales, With Retailers Citing A Lollapalooza Boost

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