The results are in from Oregon’s first week of selling legalized recreational marijuana!
Reports according to the Oregon Retailers of Cannabis Association say that recreational dispensaries saw $11 million in revenue in the first week alone, and $3.5 million by the end of the first day. For comparison, Colorado saw first week sales of $5 million and Washington only hit $2 million.
The success of Oregon’s first week can be attributed to their medical cannabis infrastructure that was already in place, allowing for multiple medical dispensaries to start selling recreationally. They also benefitted from their neighbors in California who will surely be making return visits until their own vote later this year.
Talks are already in the works to provide exemptions for dispensaries that were already open, meaning they can remain in business even if they are within 1000 feet of another dispensary. Many supporters of the exemption are praising the opportunity for healthy competition which can be enticing to regular consumers and tourists.
Recreational marijuana in limited quantities has been legal since July 1st, but it wasn’t until October 1st that it became legal to sell it. So far, things appear to going well for Oregon. We wish them much success in the months ahead, and we hope other states will look to Oregon as an example for their own path to legalization.
Are you considering getting involved in the Cannabis industry yourself? Now is the right time. Feel free to contact us and we’ll be glad to get in touch.