Colorado Cannabis Sales Experience Second Consecutive Monthly Decline In February
Colorado’s once-thriving cannabis market is grappling with another setback as sales dipped for the second consecutive month.
Data released by the Colorado Department of Revenue reveals a decline in total cannabis sales for February, dropping from $115.4 million in January 2024 to $114.4 million. This drop, along with a more than 8% year-over-year drop from $124.8 million in February 2023, signals the continued challenges within the industry.
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Struggling To Sustain Growth
Albeit modest, the decline adds to the woes of an industry already facing challenges in sustaining industry growth. Despite efforts to stabilize sales, February 2024 represents the lowest performance since February 2018, when sales stood at $112.5 million.