MJ Research Report: Washington Recreational Marijuana Sales Grow By More Than 20% In February

Retail sales grew at 22.2% from $12.7M in January to $15.52M February while Producer/Processor sales grew by 16.6% from $5.77M to $6.73M.  Both are great news for producer/processors sitting on surplus inventories left over from last fall’s big harvest and are indicators surplus inventories will continue to burn down over the coming months.

By Joe Armes

WASHINGTON: Combined Producer, Processor and Retailer monthly sales in Washington State grew at its fastest rate since November, growing by 20.5% from $18.5M in January to $22.7M in February, a month with 3 fewer days.

Retail sales grew at 22.2% from $12.7M in January to $15.52M February while Producer/Processor sales grew by 16.6% from $5.77M to $6.73M.  Both are great news for producer/processors sitting on surplus inventories left over from last fall’s big harvest and are indicators surplus inventories will continue to burn down over the coming months.

Here are some other insights from the Washington State Recreational Cannabis Business Intelligence Dashboard:

  • Year-to-date combined producer, processor and retailer sales as of March 9th have totaled $49M, resulting in $12.3M in excise taxes due to the state.
  • There are currently 127 approved retail stores in Washington State and as of March 9th 107 of these retail stores had recorded sales.
  • A new single day sales record was recorded on February 27th with $1.55M in combined producer, processor and retailer sales.

If you are a producer, processor or retailer who would like to be a confidential data provider for the dashboard and receive custom business insights or would like more information about business intelligence and analytics feel free to contact Joe at joe@analyticallycorrect.com.

 

About Joe Armes: Joe is the founder of Analytically Correct, a data analytics services company that provides custom analytics solutions that transform data into insights to allow decision makers to focus on what adds most value. His passion is to work with organizations with deeply rooted causes to help them gain access to the knowledge needed to make timely and informed decisions.

Comments

  1. Mark Jones says

    A lot of this weed is being taken now to other States. Washington State is doing nothing to prevent this marijuana from flowing to others states. The Federal Government said they would not allow this to happen. Looks like the Feds and Washington state messed it up for those states who citizens do not want legal marijuana.

  2. Randy Gehringer says

    Washington State in a year will be selling 100 million dollars worth of marijuana a month, and 75% of it will be going to States that do not want recreational marijuana or to other countries where marijuana is not legal, all through a black market network.

  3. Bernadet Rodakowski says

    Black market or not, the numbers are impressive considering Oregon and BC are our border states. But there is a good point here, how much money could be generated by lowering overall recreational prices (tax rate), and clearing barriers to entrepreneurs (retailers, ect.).

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