Marijuana retailers sold over $11 million of marijuana during Oregon’s first 5 days of legal recreational marijuana sales. According to the Oregon Retailers of Cannabis Association, Oregon’s first week of sales outpaced early business of any of the other states that have legalized marijuana.
Oregon retailers sold $3.5 million of marijuana by the end of opening day. Colorado’s first week of sales hit only $5 million. Washington’s first month of sales hit only $2 million.
On October 1st, 2015, recreational marijuana became legal to sell in retail stores in Oregon and sales went off.
An existing medical marijuana infrastructure consisting of about 300 dispensaries in Oregon helped boost the strong first week of marijuana sales. Colorado had only 24 stores on their Day 1. Washington had only 4 on Day one and they still have less than Oregon.
If there are 300 pot shops in Oregon and they made $11 million in the first week of marijuana sales, that’s $37,000 per store on average. This eclipses the sales of kratom, another pain reliever for sale at these types of stores. It is clear to see which is the favorite.
One shop in Bend, OR (where Mt. Bachelor is) reported making $55,000 on the first day and $250,000 in the first week.
Right now, all that money is tax-free. In January, a 25% tax will be placed on recreational marijuana in Oregon.
New clients including people who haven’t smoked pot in years have been signing up to buy legal recreational marijuana in Oregon.
“They’re telling me that customers lining up are in many cases 50 to 65 and haven’t purchased marijuana in decades, but they’re just happy to have the opportunity to do so.” – Casey Houlihan, executive director of the Oregon Retailers of Cannabis Association
“We’ve probably seen several thousand new patients over the course of the week. Sales are through the roof.” – Sam Stapleton, president of Diamond Tree, a marijuana retailer in Bend, OR
Only 4 states have legalized recreational marijuana so far and they are all ski states: Oregon, Washington, Colorado, and Alaska. Coincidence? We think not.