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Despite the stay-at-home emergency orders due to Covid-19, cannabis sales in Michigan were as strong as ever over the past 4 months, as the provisioning centers statewide were deemed “essential” throughout the pandemic.

“It’s fair to say that during any crisis people use intoxicants more than normal,” said Rick Thompson, owner of Michigan Cannabis Business Development Group.  Also stating that the sales increase is a “testament to the strength of the industry.”

Using data from states with mature markets for a comparison, reports predict Michigan’s annual recreational marijuana sales to exceed $1.5 billion.

Interesting statistics over the last 4 months….
  • In its first 28 weeks, the recreational market has accounted for $138 million in sales vs. $476 million for medical.
  • Roughly $20 million in combined sales the week of June 8 – medical ($9.9 M) plus recreational ($10.2 M)
  • Statewide there are over 300 active provisioning centers combined – Medical (280) + Recreational (114)
  • Roughly 373 out of 1,773 Michigan communities have currently opted “IN” for adult-use businesses
  • Licensed recreational marijuana retailers in Michigan grew 70% from March (61) to May (104)
  • Since December 2019 medical marijuana sales have doubled, while adult-use is up 800%.
  • Medical sales have remained consistent since late April, at roughly $9 million per week
  • From March 9 through May 10, total marijuana sales exceeded $54 million
  • Tax revenue from adult-use sales since December 1, 2019 = $15.2 million
  • Less than 5% of all Michigan businesses were deemed “essential”
  • Adult-use sales have increased each week since April
  • The marijuana industry is hiring
  • Sales percent increases
    • 41% between December and January
    • 51% between January and February
    • 48% between February and March
    • 23% between March and April

MORE INFO….

 

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