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Cannabis Sales Rise 57% In Colorado During Pandemic

Cannabis Sales Rise 57% In Colorado During Pandemic

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 (Nasdaq: 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%

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