December typically is a monster month for marijuana sales.
Last year, Colorado cannabis shops brought in upward of $101.3 million in sales during December — setting a new monthly record, state revenue data show. In 2014, only August sales of $67.5 million outpaced the $66.8 million brought in by Colorado pot shops during December.
There are a lot of factors likely playing into the wintertime spike, be it holiday bonuses, ski trips, time off from work, and even the visits from the in-laws, says Greg Shoenfeld, director of dispensary relations for BDS Analytics, a Boulder, Colorado-based firm that tracks sales and trends at marijuana shops.
“You have a lot of tourists coming in from out of state at that time of year, so I think those four things — it’s more than a trifecta — that’s a whole lot of contributing factors to a strong December,” he says.
Shoenfeld also has some tips that could bring good tidings to cannabis businesses.
“There’s so many things that we can do in this space, and that’s what’s really so much fun about being in this industry as such an early stage,” Shoenfeld says. “In years past — 2014, 2015 — Christmas was still a relatively small period of time. Sales are only slightly larger than other points of the year. It’s not like other retail industries at this point.