{"id":103407,"date":"2020-02-19T10:58:03","date_gmt":"2020-02-19T14:58:03","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=103407"},"modified":"2020-02-19T10:58:03","modified_gmt":"2020-02-19T14:58:03","slug":"colorado-sold-a-record-1-75-billion-of-cannabis-last-year","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/colorado-sold-a-record-1-75-billion-of-cannabis-last-year\/","title":{"rendered":"Colorado sold a record $1.75 billion of cannabis last year"},"content":{"rendered":"
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\u00a0(CNN Business)<\/cite>This time last year, it appeared that Colorado’s industry was plateauing. Now it’s surging.<\/p>

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Colorado cannabis shops notched sales of nearly $1.75 billion during 2019, setting a new annual sales record for the state home to the nation’s longest-established recreational cannabis industry, according to\u00a0Colorado Department of Revenue data<\/a>\u00a0first reported by the\u00a0Denver Westword<\/a>.<\/div>\n
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\"Cannabis<\/a><\/p>\n
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The new high water mark for sales netted more than $302.4 million in tax revenue<\/a>\u00a0for the state’s coffers, where that money is divvied up into various buckets\u00a0to fund programs<\/a>\u00a0such as school construction, law enforcement, public health, drug education and public safety.<\/div>\n
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The 2019 figures showcase a surprising surge in growth from a market that a year ago appeared to be flattening out. Colorado’s cannabis sales increased 13% from 2018, bouncing back from a 2.5% year-over-year growth rate from 2017 to 2018.<\/div>\n
Those slow growth rates were largely driven by price drops on flower, or cannabis bud, Tom Adams, managing director at cannabis market research firm BDS Analytics, told CNN Business.<\/div>\n
<\/div>\n
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“To see it turn around in 2019 is a bullish indicator that price compression can’t keep the popularity of legal cannabis down,” he said.<\/div>\n
Adams attributed the rebound in Colorado’s sales growth to two key factors: the increasing prevalence of non-flower products and changes in consumer behavior.<\/div>\n
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\"A<\/p>\n
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The profusion of edibles, beverages, vapes and concentrates resulted in a smaller market share for the familiar flower. Separately, people are growing comfortable with buying cannabis products and integrating those purchases into their shopping patterns, he said, noting\u00a0recent BDS studies<\/a>\u00a0that showed increases in the number of adults who reported consuming cannabis in the prior six month period.<\/div>\n<\/div>\n
\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

\u00a0(CNN Business)This time last year, it appeared that Colorado’s industry was plateauing. Now it’s surging. Colorado cannabis shops notched sales of nearly $1.75 billion during 2019, setting a new annual sales record for the state home to the nation’s longest-established recreational cannabis industry, according to\u00a0Colorado Department of Revenue data\u00a0first reported by the\u00a0Denver Westword. The new […]<\/p>\n","protected":false},"author":3,"featured_media":103411,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-103407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nColorado sold a record $1.75 billion of cannabis last year - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/colorado-sold-a-record-1-75-billion-of-cannabis-last-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Colorado sold a record $1.75 billion of cannabis last year\" \/>\n<meta property=\"og:description\" content=\"\u00a0(CNN Business)This time last year, it appeared that Colorado’s industry was plateauing. 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