Cannabis retailers have shown again why experts call legal marijuana markets “pandemic safe”. March 2021 saw the highest monthly marijuana sales in Illinois history, according to new data released by the state’s Department of Finance and Professional Law.
Illinois sold over $ 109 million worth of legal pot in March
Prior to last month, January 2021 held the record for the highest monthly adult marijuana sales in Illinois history, with cannabis products sold valued at $ 88,813,872. The hot start to the New Year was part of a widespread trend in the country’s legal cannabis markets – soaring cannabis sales during the COVID-19 pandemic.
Figures released by New Frontier Data show a sharp increase in marijuana sales in many major legal markets from March to April 2020. In some areas, total cannabis sales rose nearly 50% due to COVID-related restrictions and bans, which is a clear one Image results from industry experts.
“What we learned is that regardless of the economy, Americans get cannabis, alcohol, baked goods and cars no matter what,” said Patrick Anderson of the Anderson Economic Group, a frequent publisher of breakdowns of national marijuana market performance.
Illinois has managed to maintain and build on the soaring numbers, resulting in month-on-month sales increases and cannabis products valued at over $ 1 billion in 2020. The breakdown of the state’s sales since last April speaks to the resilience of marijuana in COVID-19 – and the demand from Illinois residents for the market:
|month||Cannabis products sold to adults||Total turnover (leisure)|
|April 2020||818.954||$ 37,260,497|
|May 2020||989.179||$ 44,317,385|
|June 2020||994.545||$ 47,646,437|
|July 2020||1,270,063||$ 60,956,981|
|August 2020||1,359,311||$ 63,963,846|
|September 2020||1,426,166||$ 67,648,362|
|October 2020||1,577,880||$ 75,278,200|
|November 2020||1,556,817||$ 75,199,344|
|December 2020||1,896,941||$ 86,857,898|
|January 2021||1,898,064||$ 88,813,872|
|February 2021||1,724,610||$ 80,741,641|
|March 2021||2,317,315||$ 109,149,355|
Despite a slight setback in February sales, March 2021 knocked Illinois’ monthly marijuana sales record of over $ 109 million in recreational cannabis products sold.
The record number more than tripled recreational marijuana sales last March, setting the stage for Illinois to reach $ 1 billion in recreational sales by the end of 2021 alone.
Last year, the state of Illinois raised a whopping $ 205.4 million in recreational marijuana tax revenue – a result of $ 669 million in sales of adult cannabis products. Bring that number to $ 1 billion, and that translates into significantly more resources to rebuild struggling communities across Illinois.
As outlined in the state’s marijuana legalization bill, 25 percent of cannabis tax revenue is used for the Illinois Restoration, Reinvestment and Renewal Program, which provides grants to “communities affected by economic divestment, violence, and those caused by war severe and complex damage are affected on drugs. “
At The Weed Blog, we strive to produce the latest online marijuana news sources. We also review different strains of cannabis or other edible counterparts. We want to help you find valuable information about marijuana on our website. Learn from us what you can do to promote activism in your area as marijuana laws are constantly changing. Otherwise, consider these other top notch cannabis items:
Colorado is focused on social justice in the marijuana industry
New Mexico is on the verge of becoming the next state to legalize recreational marijuana
States after income tax receipts for marijuana