Daily weed sales hit $2.88 million in February, a new high

Illinois dispensaries are on pace to sell over $1 billion worth of recreational pot products in 2021.

SHARE Daily weed sales hit $2.88 million in February, a new high
Pot parties where marijuana was allowed to be consumed were shut down by the city last week.

Weed stores sold over $80 million in recreational pot products in February, a significant drop from the record $88 million unloaded a month earlier.

AP

Illinois pot shops unloaded nearly $2.9 million worth of recreational weed each day in February, outpacing a record set just a month earlier.

Average daily sales in February hit a new high of roughly $2.88 million, up from the $2.86 million a month earlier, according to figures released this week by the Illinois Department of Financial and Professional Regulation.

All told, dispensaries sold more than $80 million in recreational pot products last month. That marked a drop from the record $88 million in sales recorded in January, when there were three more days of sales.

In the first full year of legalization, recreational pot sales reached nearly $670 million. Based on this year’s first two months, total sales in 2021 are on pace to eclipse $1 billion. The sales figures are reported separately from medical marijuana tallies, which are reported later in the month.

Despite the eye-popping numbers, cannabis consultant Andy Seeger said sales might start to level off. Without more cultivation space, more stores or new, pricier products, there’s only so much the industry will be able to grow. Meanwhile, the state’s outstanding cannabis licenses — including 40 craft cultivation permits and 75 new dispensary licenses — have all been delayed indefinitely amid an ongoing controversy.

Still, Seeger acknowledged that shops have been able to streamline operations over the past 14 months and adapt their processes in the wake of the pandemic.

“The average dispensary can only handle so many customers each day, especially with current health conditions. There aren’t exactly lines but sales are going to be relatively steady with seasonal and weekly trends,” said Seeger, noting that shops in Colorado typically do better business in the summer months and most places have lower sales numbers on Mondays.

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