Photo courtesy of Good Day Farm.
Missouri’s recreational market is off to a roaring start as the Show-Me State showed up for opening weekend to the tune of more than $8.5 million in recreational sales, as well as $4.1 million in medical sales for a three-day total of more than $12.7 million, according to data released by the state.
Recreational sales began February 3, with consumers buying more than $3 million in adult-use cannabis on the first day alone.
According to an analysis by Headset, the average dispensary in Missouri went from having about 90 customers per day to 250 per day. Stores, on average, brought in more than $70,000 each in the first weekend of sales, tripling the medical average of $23,000 per weekend.
The per-store average ranked fifth in the nation for the weekend of February 3-5, beating out 10 other adult-use markets including California, Colorado, Michigan and Washington — though some of that success is surely due to Missouri’s relatively limited number of cannabis retailers.
However, the initial first-week rush may have created inventory problem for the state in the near future, with Headset reporting that the week saw “a record number of items go out of stock, indicating that demand is outpacing supply.”
“This growth can be seen as a testament to the increasing demand for recreational cannabis in the state and a sign of the thriving market that has emerged as a result of legalization,” reads the Headset analysis.
— Brian Beckley