Missouri medical marijuana sales dip after record breaking December
Medical cannabis sales in Missouri fell 7.5% from December’s all-time high. Despite the dip, January represents the Missouri marijuana market’s second-strongest sales month in program history.
The final month of medical-only marijuana sales in the state brought in more than $37.23 million.
Since the first retail sale of medical marijuana in October 2020, Missouri dispensaries have sold a combined $642.54 million in marijuana and marijuana-infused products.
On Friday, February 3, Missouri began approving current operators for conversion to comprehensive licenses, signaling the beginning of adult use sales and a new chapter for Missouri’s highly successful cannabis industry. Dispensaries around the state reported an increase in foot traffic and sales.
Operators around the state began to see email approvals from the Division of Cannabis regulation early in the morning on Friday. With approvals from the state, dispensaries were clear to begin recreational sales.
Star Buds, with locations in Festus and University City, opened early for business on Friday and made their first sale of the day at 7:08 am.
“Wrapping up all the loose ends we had planned to complete over the weekend in one night was a challenge, but it was definitely worth it seeing so many excited customers Friday morning,” said Chris Chesley. Owner-Operator at Star Buds.
Chesley told Greenway that both Star Buds locations saw an increase of more than 400% in the number of customers served daily over the weekend.
BDSA, one of the country’s leading data analytics firms tracking marijuana markets, projects combined marijuana sales in Missouri to exceed $700 million in 2023.
Missouri dispensaries will need to average a combined $60.25 million in monthly sales for the remainder of the year to meet the $700 million mark, but historical data from other states launching recreational marijuana sales would suggest that benchmark is well within reach.