Recreational Marijuana Sales Top Medical Sales For First Time In Michigan
The Michigan marijuana industry is booming, and for the first time ever the recreational sales have topped medical sales.
I don't know if this should come as a surprise to anyone, because when recreational became legal in Michigan, it basically opened the market up to tons of new people. I think the biggest surprise is that even during a pandemic that has crushed our economy, the marijuana business is growing.
Not just growing a little bit either, it's exploding! According to the MCMA, this has been the trend in every state where medical was legal first. The natural shift tends to lean toward recreational when it becomes legal according to the MCMA president.
So just to put this into perspective, all we have heard about through the pandemic is businesses being forced to close because of the financial landscape. Not just small town mom and pop businesses either, major corporations have had to scale down operations.
Meanwhile the marijuana industry has been growing every week since the beginning of 2020. According to Mlive, weekly medical sales have doubled pretty much every week, while the recreational weekly sales are up 800%. The two combined saw nearly $20 Million in sales from June 8th to June 14th.
TWENTY MILLION IN SALES IN ONE WEEK! Remember that number is happening during a pandemic.
I remember hearing from any of my friends that knew about the marijuana industry that there is no ceiling on the amount of money to be made. I never argued with them, but I also had no idea that it would be this big, and still continue to grow!