Thursday, July 7, 2022

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Marijuana sales in Illinois are skyrocketing

2020 was the first year weed became legal in the state of Illinois, and the demand just keeps coming.

According to the Sun Times out of Chicago, a total of $670 million of recreational marijuana was sold last year. Those are fantastic numbers, but the cherry on top is that this year seems to have the potential to reach the billion dollar mark.

Last January, the amount of marijuana sold was $39 million. Decent profit, but January 2021 reached $88 million. That’s more than double, and if this growth keeps up, a year of $1.2 billion in sales isn’t out of reach.

However, some are saying this upwards trend won’t likely be replicated month to month. “I wouldn’t expect constant upward trends every single month. It will be a combination of more consumers entering the market, some products ‘premiumizing,’ some products falling in price slightly and changes in consumer frequency of use,” says Alyssa Jank, an analyst at a cannabis research firm, Brightfield Group.

Promising signs, and despite apparent headaches during the application process, more and more pot shops are opening up in the state.

Read the full story at Chicago Sun Times.

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