Michigan dispensaries set new cannabis sales records on 4/20
Michigan's cannabis consumers purchased more than two tons of marijuana flower on Wednesday during the annual pot holiday.
Initial data from the Cannabis Regulatory Agency of Michigan shows overall sales of the flower on Thursday, the annual 4/20 pot holiday, were up 242% this year compared to the same day in 2021, CRA Director Andrew Brisbo said.
Flower sold on 4/20:
- 2022 - 4,619 pounds
- 2021 - 1,912 pounds
- 2020 - 430 pounds
Consumers purchased more than $15.5 million in cannabis products from Michigan retailers Wednesday. Overall marijuana product sales, measured by price, were up 45% from the previous year.
Total marijuana sales in Michigan on 4/20:
- 2022 - $15.55 million
- 2021 - $10.69 million
- 2020 - $3.67 million
"Overall sales continue to increase despite significant price decreases year over year," Brisbo said. "Over 140,000 adult-use vape cartridges were sold yesterday — 100,000 more than last year."
There are 540 medical dispensaries catering to 230,500 patients in Michigan, while 478 recreational dispensaries exist in the state.
Recreational cannabis customers pay a 10% excise tax on top of state sales tax. Medical marijuana consumers do not pay the excise tax.
The influx of sales Wednesday translates to more than $2.55 million in excise taxes and state sales in a single day, CRA spokesman David Harns said.
Recreational cannabis sales are forecasted to hit a new high of $1.5 billion this year and are expected to lead to the demise of Michigan’s 12-year-old medical cannabis sector.
Recreational sales surpassed medical sales in mid-2020, and the industry forecasts medical receipts will be about $324 million this year, a dip from last year, a downward trend that is expected to continue.