Recommended content

Michigan Marijuana Sales Surpassed $3 Billion In 2023 As Retailers Smashed Monthly Record In December

Michigan’s legal marijuana retailers sold more than $3 billion worth of cannabis in 2023, with stores in December recording stronger sales than ever before.

Licensed businesses saw $279.9 million in total sales last month, according to the latest state sales data—a new record, beating out the previous highest monthly haul of $276.7 million set last July.

All recorded sales for 2023, including both adult-use and medical purchases, came to $3,057,161,285.85, according to Michigan’s Cannabis Regulatory Agency (CRA)—or about a third more than 2022’s annual total of $2.29 billion.

Recreational sales made up the vast majority of market activity for the year, with medical marijuana activity making up smaller and smaller shares as the months went on. In December, for example, adult-use retailers sold $276.7 million—about 99 percent of all legal cannabis sales for the month. Medical marijuana dispensaries, meanwhile, saw $3.2 million in monthly sales, making up barely more than 1 percent of the market.

The state’s annual sales figure for 2023 amounts to about $305 worth of marijuana for every person in the state, according to Crain’s Detroit Business, though sales to out-of-state residents account for at least some portion of recorded sales. The figure also exceeds the gross

Read full article on Marijuana Moment

Follow us on Instagram or join us on facebook page

Be first to rate

Marijuana Moment
Source

More news