The year-over-year sales decline came despite high hopes for 4/20.Colorado marijuana sales fell by 5% from March to April, the state Department of Revenue reported Wednesday, with dispensaries reporting $120.1 million in sales, down from $126.6 million.
It’s the worst April sales performance since 2016 for Colorado cannabis shops, despite the traditional 4/20 sales bump that most marijuana retailers typically experience.
The latest total includes $105.5 million in recreational sales along with $14.6 million in medical sales, according to the state tally. Calendar year sales totals are now $476.5 million, with a historical total of $15.9 billion.
The new sales figures appear to continue an ongoing statewide decline – or at least stagnation – that has left the market reeling for months. Tax collection figures released for May don’t portend a major turnaround either.
Although May sales numbers are not yet available, the DOR said in a press release that it has thus far taken in $22 million in tax and fee revenue for that month, down from $23 million in April.
The numbers can – and have been – worse in recent months. Sales over the winter were even lower, not reaching more than $115 million between November and February.
But still, the April $120.1 million is down year-over-year from:
$131.5 million in 2023
$153 million in 2022
$206.3 million in 2021
$148.4 million in 2020
$135.8 million in 2019
$124.3 million in 2018
$124.2 million in 2017
In 2016, the last time April sales were lower than 2024’s cannabis holiday month, sales were $102.1 million.
In 2023, Colorado had its worst cannabis sales year since 2017, and the market’s distress has been garnering national attention in the media.