PORTLAND PRESS HERALD: MAINE RECREATIONAL CANNABIS SALES
The Portland Press Herald reports on the growth of recreational cannabis sales in Maine since the first dispensaries opened in October 2020.
PORTLAND PRESS HERALD: Recreational pot sales have more than doubled since Maine’s market launch
“Recreational marijuana sales have more than doubled since the market opened in October, with the Maine Office of Marijuana Policy reporting almost $2.5 million in sales in January.
Maine’s 15 licensed adult-use retailers reported 33,521 sales worth $2.47 million in the first month of the new year, earning the state roughly $247,000 in tax revenue.
The average customer spent about $74 per sale in January, according to statewide data, up from about $66 per sale the first month.
Smokable cannabis, or flower, accounted for about 63 percent of sales, a decrease from 76 percent when the market opened, likely the result of a more diversified product line being available.
The average price of bud has fallen from $16.67 per gram to $14.57 per gram, or about $52 for an eighth of an ounce, down from $59. An eighth is enough to roll seven fat joints or about 14 cigarette-style ones.
“By and large, we’re encouraged by what we see,” said David Heidrich, spokesperson for the Office of Marijuana Policy. “Four months into the program … we’re pleased the launch has gone as smoothly as it has.”
At the start, the industry struggled with limited supply, few options and high costs, but since the first month, Maine has licensed 13 more cultivation facilities and 10 more manufacturing sites.
“As the market matures over the coming months, we’ll see the supply and demand challenges diminish as more diverse product becomes available,” Heidrich said.
January also saw the opening of the state’s second testing lab, Nova Analytics in Portland. As more labs are approved, he expects prices will continue to fall.
“More competition for business among the labs will help reduce the cost of testing” for retailers, he said. Lower overhead costs will likely help lower prices.
Brandon Pollock, owner of Theory Wellness in South Portland, experienced firsthand the frustrations of the limited inventory when his adult-use store opened with the first wave on Oct. 9.”
To read the full story visit Portland Press Herald below.
About Theory Wellness:
Theory Wellness is an East Coast medical and recreational cannabis brand; we cultivate cannabis, operate extraction labs, manufacture infused marijuana products, and proudly serve patients and customers at our marijuana dispensaries in Massachusetts and Maine.
Our focus is on small batch, craft cannabis that we cultivate using sustainable techniques on our outdoor cannabis farm and at our state-of-the-art indoor gardens. We run unique genetics to develop in-house premium products that include flower, concentrates, edibles, and an array of infusions for medical and recreational consumers in New England.
Throughout our work, we remain committed to expanding the science of cannabis, and creating the future we want to see in the emerging marijuana industry through social justice, sustainability, and research.
If you’re thinking to yourself, where is the nearest recreational dispensary near me or medical marijuana dispensary near me, look no further. Theory Wellness operates medical and recreational cannabis dispensaries in Maine and Massachusetts that offer various cannabis products to meet your needs. If you are looking for our Maine recreational marijuana dispensary locations, click here. If you are looking for Massachusetts marijuana dispensary locations, click here.
To learn more about our operations, follow-us on Instagram @TheoryWellness.