Cannabis sales dip in Washington
Cannabis sales dip in Washington
When Washington first legalized recreational marijuana in 2012, a new industry opened up for the state.
Since then, recreational cannabis retail has grown into a multibillion-dollar industry, generating hundreds of millions of dollars in tax revenue.
But new numbers from the Liquor and Cannabis Board show that growth may be slowing down.
In Pierce County, cannabis retail sales from the 2022 fiscal year dropped around 12% from 2021.
It’s a trend that’s being seen statewide. Retail sales from the 2022 fiscal year showed an 8% decline over 2021, equaling around $120 million in unearned revenue for Washington.
The state’s Liquor and Cannabis Board called 2021 an anomaly and credits the year’s high sales to Washington’s stay-at-home restrictions increasing consumption. The board added that although sales are lower this year compared to 2021, sales have been rising consistently since cannabis stores first opened back in 2014.
However, Duane Dunn, owner of Emerald Leaves Dispensary, says it’s more complex.
First, illegal markets are cutting into the sales of legitimate retailers.
“When you have customers who can purchase products from some of the same vendors that I use at a cheaper price, it makes it a little more difficult for those customers to come back into the store,” Dunn explained.
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Hello I want kg
A recession will do that, now do some actual reporting K5.
lol
Mindless idiots! No wonder our country is collapsing
Druggies move on to better drugs, basically…
People gotta spend up to 300 % more in groceries. Smoke and household goods don’t feed the hungry stomach
Too many chemicals now, gotta quit. Weed is not good anymore.
Legalizing weed is sold largely on the idea that it will just free courts and law enforcement from pointless prosecution of ppl with personal amounts, shutdown organized crime and create a tax windfall.
Now here we are griping about the market not expanding fast enough and illegal suppliers.
Skeptics must get exhausted being right all the time.
Yeah this can’t possibly go wrong. In 1966 Paul Harvey said it best
Good, lower prices then. BTW, "approved" vendors were all dealers before it was legal, they just won a lottery to open a shop. Period.
Is it because people are realizing they are turning into non-expressive, late to work often, day dreaming drones?
Hmmmm………
In a recession heading towards depression…
Ban employers from testing and all adults could consume it. As long as the homeowners association for condos was similarly banned. Washington state is supposed to be the lunatic liberal fringe and anyone with a job can’t go to this pot party. Mad as hell.
Lower the tax and allow homegrow
Maybe it’s also because other states are legalizing it, so you don’t have to go to Washington State anymore
Stop taxing it. Make it tax free.