We thought we hit a huge spike for weed sales on our weed holiday 420 but that was nothing compared to the impact made in the sales department of the industry for the entire month. For the second-straight month, Oregonians hit a high note breaking a cannabis sales record for legal marijuana. In April, Oregon saw $89 million in legal marijuana sales. The OLCC reported that cannabis sales jumped up 45% in April, in comparison to last year’s numbers, making April 2020 the highest month on record for the state.
Oregon’s annual tax revenue from recreational marijuana sales surpasses $100 million. The state collects 17% tax on retail marijuana sales, while counties or cities can apply a 3% tax. A large number of recreational cannabis dispensaries were considered ‘essential’ in many states, including Oregon, enabling them to continue to serve patients during government restrictions.
“There’s a reason why over 25 states have declared marijuana dispensaries to be essential services. These are things people rely on,” explained Rep. Earl Blumenauer, D-Ore.
In March, High Times spoke to Shareef El-Sissi, CEO of the California-based cannabis company Eden Enterprises, about the spikes in cannabis sales in legal states. He said that “cannabis retail will never be the same” due to a recently implemented digital approach in cannabis sales, and the customers who seem to be enjoying that mode of retail.
“When the quarantining is over, I think customers will continue to use digital channels to purchase cannabis. This is more in line with the order online, pick-up in-store trend sweeping traditional retail as well,” he said. El-Sissi also made it clear that the pandemic represented the “first panic buying event” for cannabis retail.
It has been a comparable story in Michigan, where weekly sales of recreational marijuana have gone up drastically since March 9. Medical marijuana markets have also been affected in a similar way, with Arizona and Oklahoma alike reporting booming medicinal sales during the outbreak.