In February, cannabis sales were down almost 15% compared with last year.
Arizona’s cannabis sales are declining for the second year running. The Arizona Mirror has described the decline as “cratering”, and the recreational marijuana sales have been “softening.”
The Mirror analyzed sales data from the Department of Revenue of the State of California and found that sales have dropped by 10%, to $1.3 billion annually, after hitting $1.4 billion for three consecutive years. The downward trend appears to be continuing.
Sales of recreational products and medicinal drugs combined in February, the latest month with available sales data, were only $96.3 millions, down from $113million, a drop of almost 15%. Most recent figures for February include $80.1 in recreational sales, and $15.6 in medical. Both numbers are down from last year’s $89.4 and $23.6 millions.
According to the Mirror, recreational marijuana was down almost $43 millions from 2023. Meanwhile, medical marijuana fell $114 million.
Mirror reports that the medical sector of the industry is “a mere shadow” of what it used to be just four years earlier, and sales are only a third what they were. The total sales of medical products in 2010 were $243 millions, a drop from the $733 million recorded in 2021.
Mirror reports that since 2021 the recreational market continues to outpace the medical one. Last year it accounted for 81%, compared with 66% the previous year.