Retail cannabis sales had been on a steady upward trend month-on-month in Colorado despite the coronavirus pandemic, but that momentum backslid in August.
According to CPR News, the Colorado Department of Revenue’s numbers show consumers spent $218,601,341 on marijuana in August. That’s down 3.43% from the previous month, when the state set a record with more than $226 million in sales.
Until the August downturn, marijuana sales in Colorado had been trending upward each month since April.
With sales totals of more than $200 million in August, the state’s marijuana businesses have reason to be confident that revenue will hold steady.
But the industry is hypersensitive to fluctuations such as U.S. unemployment benefits drying up as the coronavirus pandemic rolls on.
COVID-19, in fact, might be a reason the Colorado numbers dipped since fewer tourists are visiting the state during the pandemic.