Montana’s first day of sales for recreational cannabis has shattered sales expectations for the state

Hundreds of Montanans waited outside, despite the extreme temperatures, to be among the first to legally purchase recreational cannabis. The Montanans have been waiting for this opportunity for a long time. Many of these cannabis users decided not to wait a moment longer when the doors of cannabis dispensaries opened a few days ago.

The year 2022 brought good news for Montana’s cannabis industry as the recreational niche for the sale of cannabis and its derivatives came into operation. Before D-Day, many predicted pharmacies would not meet expected demand, but these facilities were prepared. No one left without purchasing the cannabis products they wanted.

From staying out of stores in the frigid and snowy weather to spending thousands of dollars on cannabis, cannabis users in Montana celebrated the New Year with recreational cannabis.

The countdown has ended

The days of endlessly waiting for a viable recreational cannabis industry are now over. The government has also done a great job of doing whatever it takes to keep the scheduled day. From the moment recreational cannabis was legalized in 2020, dozens of stores across the state’s 56 counties have been leased primarily to serve as marijuana stores.

At midnight Saturday, while fireworks were being set off across the state, the doors of these facilities were also opened. Throughout the first day, the stores were packed with customers queuing outside for their turn.

JJ Thomas, the founder of Missoula’s Higher Standard dispensary, admitted that every cannabis user and advocate in the state had been counting down to this moment. JD Petersen, another prominent name in the fight for cannabis legalization in 2020 and founder of dispensary Cannabis Corner, said that at least 80% of customers who visited dispensaries on January 1 bought only weed for adults.

Sale on the first day

Retail sales of recreational cannabis in Montana are forecast to generate at least $130 million this year. That prediction could be a reality as Saturday’s sales were insane to say the least. In the last few days, the rush to sell has slowed down, but has remained stable.

On day one, people were flocking to and from these new dispensaries to buy into the new stock with their cash. In Cannabis Corner, Petersen revealed that some customers were dancing in anticipation. Very few worried about the state’s substantial 20% tax levy, and even fewer grumbled about the potency values ​​of some of the products available. Workers reported that some people were curious and inquired about the products and how they were processed. As expected, there were hundreds of new faces, unlike back when only cardholders could enter the store to make purchases.

Petersen said the brand took ownership of the store just last month, and he was surprised the turnout was so high. Customers were only focused on buying their weed and gave very little thought to the signage from the previous dispensary that was still in place. This proved to him that with the right amount of supply, there would always be buyers available, especially in the cannabis industry. Other dispensaries such as Firefly and Cannabis Corner reported similar incidents.

Firefly CEO Jerry Spurlock told reporters that ahead of the store’s opening on Saturday, a crowd lined up just outside the building to attend the sales. He added that the first day had some chaotic elements. As this was the first day of sales and so many customers to attend to, there were some challenges. The most serious of these are problems with the payment system. At some point, employees had to add up and record sales with calculators and pens to keep the line going.

Other problems included computer glitches, crowded, dead lines, and technical problems.

At Firefly Dispensary, one customer stood out. Employees and other customers in line said that despite the low temperature, the man literally stood at the store’s door because he wanted to be the first to buy recreational pot in Missoula. His wish was granted as Firefly opened as the first in the county.

What you can expect

It is a fact that the number of legal cannabis users will increase starting this week. It is still uncertain whether this increase will be at the level of other countries. The governor’s office said the industry could be worth as much as $190 million in 2023 as the 12-month moratorium on new licenses would have been lifted.

Another uncertainty is the extent of the stigmatization of the plant. In the lead up to Montana’s legalization of recreational activities, about 58% of residents supported the measure, but that didn’t erase the lingering stigma against the plant. Many families still oppose the plant and its legalization.

Over twelve underdeveloped counties in Montana are known as “red counties” for opposing the legalization initiative and refusing to allow a recreational pharmacy to operate. Luckily, cannabis advocates in this region can travel to legal counties to purchase their products.

maintain supply

For this industry to thrive, supply must be sufficient. After all, the number one goal of any legal recreational cannabis market is to make a profit. With a tax rate of around 20% and an additional 3% excise tax, cannabis operators need to ensure current sales momentum is maintained.

When there was only medicinal cannabis for sale, the supply was regular as there were a limited number of patients registered under the program. With the new development, pharmacies must be prepared to serve at least a hundred thousand more residents. Situations are now very different and while there will be shortages, operators must be prepared to find supply as soon as possible.

bottom line

The total amount realized in that first week would be disclosed at the end of the first quarter when the tax reports were released. All indications are that cannabis dispensaries will remain bullish in the coming weeks, particularly in the developed parts of the state. Over time, the stigma will gradually diminish.

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MONTANA APPROVES MEDICAL AND RECREATIONAL Marijuana!