MA Cannabis Sales Surpass $2M In 5 Days
Recreational cannabis product sales in Massachusetts have been sky high so far, much to the delight of the only two retailers that are currently open in the state. According to the Cannabis Control Commission, recreational cannabis product sales topped more than $2.2 million in just the first five business days at the only two dispensaries that are currently open for business, Leicester’s “Cultivate” and Northampton’s “New England Treatment Access” or NETA.
Daily cannabis product sales on average amounted to approximately $443,523 or close to $222,000 per day at each of the two retail locations. Here’s a closer look at last week’s sales figures, broken out day by day:
Tuesday November 20, 2018: $440,011
Wednesday November 21, 2018: $441, 540
Thursday November 23, 2018: $479,748
Friday November 24, 2018: $468,325
Saturday November 25, 2018: $387,995
The Cannabis Control Commission went on to note that over fifty-six thousand individual units of cannabis products were sold over the five day period with customers buying three to four units per each sale and on average the amount that was spent on each unit purchased being over $39. Products currently being sold at the retailers include cannabis flower from various different strains that can be smoked, pre-rolled joints and spliffs, as well as edibles, such as the traditional pot brownies, marijuana infused gummies, candy or chocolate bars, and a myriad of other options for adult cannabis enthusiasts to enjoy legally.
However with this newfound business boom there have been a few issues, although they have been relatively minor so far. For example, Leicester’s Board of Selectmen and Planning Board had to hold an emergency hearing on Monday night to address any of the potential increases in street and foot traffic, lack of accessible parking, as well as other related public safety concerns surrounding the Cultivate store’s location. According to a public notice issued by the boards: “These concerns became relevant only after it was determined the initial rush of customers to the business would be greater and longer in duration than initially forecast.”
Even though some of the kinks of Massachusetts’ recreational cannabis program are still being worked out, it is seeing a lot of local support from residents as well as local lawmakers. According to a report from CBS News out of Northampton last week, the town’s mayor, David Narkewicz, became the ceremonial first customer of NETA’s grand opening. Narkewicz also articulated his support for legalized recreational cannabis stating “I think there’s a lot going on here in trying to bring marijuana out of the shadows,” regarding the longtime struggle to move recreational cannabis use out from under the control of organized crime. Narkewizc followed up with: “There has been marijuana use going on in the Commonwealth of Massachusetts for a long, long time. What’s changing is it’s now being regulated. It’s now being tested. It’s now being strictly monitored. That’s really the major change that’s happening,”
Are you surprised by the $2.2 million earned in cannabis product sales at only two retail locations, in just five days? Do you expect sales to continue to be high or that they will begin to taper off in upcoming weeks?
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