Missouri dispensaries sold more than $100 million in marijuana in first month of adult use sales
In the first month of legal recreational marijuana sales in Missouri, the state obliterated previous records and drastically overshot most sales estimates.
Medical marijuana sales in Missouri fell 16.2% from in February while the patient count slipped below 200,000, but the legal marijuana market as a whole exploded.
Missouri dispensaries recorded $31.2 million in medical marijuana sales in February, down from $37.2 million in January – sliding for the second month in a row.
Most Missouri dispensaries opened adult use sales over the weekend of February 3, in an unexpected early launch. That three-day period brought in more than $12 million in combined sales, with roughly two-thirds of revenues being accounted for by recreational purchases.
That strong trend continued throughout the rest of the shortened month, with medical sales accounting for approximately 30% of total sales.
In all, Missouri dispensaries sold $71.7 million in recreational marijuana, while combined sales for medical and adult use totaled more than $102.9 million in the month of February. Comparatively, January sales, the final month of medical-only marijuana sales in the state, totaled just over $37.23 million. February’s sales total represents an increase of 176.39% over January sales.
The single month of February now accounts for ~13.7% of the cumulative total of all marijuana purchases in Missouri since October 2020.
Since the first retail sale of medical marijuana in October 2020, Missouri dispensaries have sold a combined $744.54 million in marijuana and marijuana-infused products.
“The numbers are impressive, but more important is how smoothly the transition went. For operators to be able to handle that volume of sales change – whether it’s inventory tracking, compliance, having product on shelves and in hand, or taking care of customers and patients – look how graciously the industry responded,” said MoCannTrade Executive Director, Andrew Mullins. “That’s the amazing thing to me, Missouri businesses haven’t experienced the same lines, problems, and shortages that we’ve seen in other states.”
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.
If Missouri dispensaries continue to perform in a similar fashion, Missouri would exceed the BDSA estimates by September.