The pandemic left many people inside of their homes, away from family, friends, and the great outdoors. People found solace in binge-watching series, wondering when the hell the pandemic would end. However, the much-needed social distancing measures that left everyone inside have evidently benefited the cannabis industry.
Pot is still flying off of the shelves at dispensaries across the country, contradicting what industry forecasters predicted as a slower year in 2021. Per MJBizDaily, cannabis sales have been soaring since the beginning of the year and it’s thanks to an expanding consumer base. States that legalized cannabis before the pandemic are reaping the biggest benefits while states that have recently embraced legalization are beginning to understand what this multibillion-dollar industry is all about. For one, there was a surge in retailers and dispensaries popping up in legal markets by 21%. Smoke shop supplies like bongs and pre-rolled cones are also getting tons of sales. More accessibility means more sales, and the cannabis market across the country is booming because of this.
Even though there was an increase in job shortages, the past year offered dedicated smokers the time to fully experience their products. Cannabis users have used the time indoors to absorb the effect of different strains that may have aided in coping with the mentally and emotionally straining time. Plus, dispensaries have been facilitating an easier shopping experience online by offering individuals live menus for their inventory and delivery services.
Predictions of a slower year may have caused business owners some anxiety but these forecasts were incorrect. New markets that have legalized cannabis are averaging 136% year-over-year sales growth while states that allowed recreational dispensaries to open up are averaging 26%.
Surprisingly, it isn’t existing customers that have been driving sales but rather, more consumers that have found the benefits of cannabis. Perhaps, it’s in part due to the convenience of pre-rolls and joints, which have also been on the rise throughout the pandemic.
The steady uptick in cannabis sales is an encouraging sign of the future of the industry. With hopes of federal legalization underway, the marijuana industry is becoming an integral part of the American economy.