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Illinois Cannabis Sales Peak Record High In August

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Illinois Cannabis Sales Peak Record High In August

On Tuesday, Illinois released its data on cannabis sales for the month of August.

Adding together medical and adult-use sales, the Prairie State reached a record high of over $95 million in legal cannabis retail.

"We are not surprised to see another record month for adult-use cannabis sales in August, with total industry sales approaching $100 million — well-exceeding $1 billion of legal cannabis sales on an annualized basis,” said Linda Marsicano VP of Corporate Communications at Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF).

Green Thumb has eight stores and two manufacturing facilities in the state.

Marsicano continued to say that consumer demand remains strong throughout the ongoing COVID-19 crisis. The company expects industry growth to continue as operators ramp up capacity to increase supply, new stores open throughout the state and existing stores add adult-use sales.  

Recreational Sales

Adult-use sales amounted to a total of $63.9 million before taxes. This marks a record for Illinois, surpassing July sales by over $3 million.

Of the total, 73% of buyers were in-state residents while 27% were out-of-state visitors.

Sales for adult-use cannabis have been rising consistently on a monthly basis since February, when numbers were almost half of what they are today, at $34 million.

Since recreational cannabis was made available in Illinois at the start of 2020, dispensaries in the state have sold more than $360 million according to the Illinois Department of Financial and Professional Regulation.

Medical Sales

Sales of medical cannabis for August in Illinois totaled $31.5 million.

Licensed medical cannabis dispensaries served 63,168 unique patients, according to the  Illinois Department of Public Health.

48% of sales represented dried flower, while 52% came from concentrates and infused products.

The medical cannabis system in Illinois encompasses 55 licensed dispensaries and has sold over $235.7 million since the start of 2020.

Photo by Antonio Gabola on Unsplash

 

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