Since the COVID-19 pandemic began, marijuana sales in the United States have grown substantially.
It may be due to uncertainty that people either decided to stock up and buy more — or perhaps they're looking for a medicinal way to cope with social isolation.
In Denver, cannabis sales were 140% higher than average on March 23, according to Flowhub data.
Recall that Colorado dispensaries are considered essential services during the pandemic.
A report from Akerna Corp KERN also illustrates the trend. Since March 11, cannabis sales have increased by 32% nationwide, according to the company.
"Our data shows continued growth for medical sales with a 57% increase over previous weeks this year," Akerna analyst Ryan Ballman wrote.
"Medical customers are buying 42% more products when shopping. We also see basket sizes increased 36%, which may suggest they are concerned about supply and are taking steps to make sure they have what they need on hand.”
Recreational customers made the biggest purchases on Monday, March 23, with an average basket size of $81.29 (up 63%) while also purchasing 123% more products than Akerna is accustomed to seeing on a normal Monday, Ballman said.
The business intelligence firm also zeroed in on medical cannabis sales across Colorado, showing a 57% increase over previous weeks in 2020. The following are Colorado sales numbers from March 23-26 compared to previous weeks in 2020:
- Total cannabis sales: Up 35%
- Medical cannabis sales: Up 57%
- Recreational cannabis sales: Up 26%
- Flower sales: Up 35%
- Vape sales: Up 66%
- Edible sales: Up 43%
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.