First Week Of Retail Sales Set Legal Cannabis Industry In Motion

First Week Of Retail Sales Set Legal Cannabis Industry In Motion

DENVER, CO — New Year celebrations seemed to extend in the daylight hours January 1 in Colorado. Despite early snowfall, hundreds of people lined up outside of a few dozen Colorado dispensaries to complete the first legal retail cannabis transactions.

As reported by Medical Marijuana Business Daily, some consumers had to wait as long as two hours to make their way inside of The Green Solution. Nonetheless, everything went on without a hitch once inside.

“The first week of legal cannabis sales exceeded $5 million.”

Understandably, the first day of retail sales was welcomed by quite the media frenzy. Cannabis Camera captured the hectic scene on the 3D Cannabis Center showroom floor as Sean Azzariti, an Iraq War veteran, made the first legal adult-use purchase in this picture.

For many activists, the moment served as the culmination of a generation-long fight against cannabis prohibition. Others took a less poetic approach.

As explained by Mason Tvert, Communications Director of the Marijuana Policy Project (MPP), “It’s just another day in Colorado. Only, some people will be purchasing cannabis in safe retail location instead of the black market.”

Landscape Of Legal Cannabis For Adult-Use In Colorado

Regardless of one’s take, the precise impact that Colorado’s adult-use cannabis market will make in 2014 and beyond remains to be seen. The market has been projected to increase by 300%.

However, Andy Betts, GM of Denver Relief, explains that any projections are simply that… No one is exactly sure what to expect as the market blossoms.

“As a nation, we look back at alcohol prohibition and ask how we could have been so foolish. It’s time to look forward and put the equally foolish policy of marijuana prohibition behind us.” – Mason Tvert

Still, businesses are positioning themselves to ensure that supply meets demand. Denver Relief has added 12 additional lights to their flowering room in order to increase production in anticipation of adult-use transactions when the time comes.

They plan to start serving adults 21 and over in early March, according to Mr. Betts.

adult use of cannabisAs for those who opened for business last week, Medical Marijuana Business Daily also reported that a number of business owners were forced to limit individual purchases and/or raise their prices to serve more consumers. The Green Solution enforced a purchasing cap of a quarter-ounce per customer.

Despite the hassle, it was a necessary evil to ensure availability for a wider customer base. The first week of legal cannabis sales exceeded $5 million, according to the Huffington Post.

Washington State will follow suit in the months to come, albeit with slightly different regulations. Nonetheless, legislators throughout the world (i.e. Uruguay and Mexico City) are surely watching as they ponder the implementation of similar policies.

“As a nation, we look back at alcohol prohibition and ask how we could have been so foolish,” says Mr. Tvert. “It’s time to look forward and put the equally foolish policy of marijuana prohibition behind us.”

From the MJ Directory Visit the directory
Portrait for Andy Betts
Andy Betts General Manager of Denver Relief

Andy Betts is the General Manager of Denver Relief and a partner at Denver Relief Consulting, is an expert in the field of cannabis cooking and infusions, as well as producing top notch …

Portrait for Mason Tvert
Mason Tvert Director of Communications of Marijuana Policy Project (MPP)

Based in Denver, Mason Tvert is the Director of Communications at the Marijuana Policy Project (MPP), where he oversees the media strategy and online outreach efforts. Prior to taking over MPP’s communications department, he co-directed the …

Loading Comments... ([[ count ]]) Comments
Leave a reply...

There are currently no comments for this topic. Be the first to leave a comment!

  • Want to stay in the loop?

    Join over 30,000 e-mail subscribers!

    By clicking submit I agree to the Privacy Policy

    Top cannabinoids

    Free Join the MJ Directory

    Welcome to the free database of cannabis companies, people, and events that anyone can add to. Ready to join the movement?

    Additional Reading View more
    Study: Anandamide May Fight Aggressive Skin Cancer
    Anandamide May Fight Aggressive Skin Cancer
    A study investigates the anticancer activity of anandamide, which affects the CB1 receptor and is similar to tetrahydrocannabinol (THC).
    Cannabigerol (CBG): A Minor Cannabinoid With A Major Impact
    An Overview Of The Cannabinoid Cannabigerol (CBG)
    Cannabigerol (CBG) has strong anti-inflammatory properties and may benefit patients with inflammatory bowel disease (IBD), researchers find in study.
    Physician’s Organization in Canada Releases Guidelines for Prescribing Medical Cannabis for Pain
    Guidelines for Prescribing Medical Marijuana for Pain
    The College of Family Physicians of Canada introduces new set of guidelines for doctors and physicians prescribing cannabis for treating pain.
    THC May Help To Reduce Damage In Patients With Inflammatory Bowel Disease (IBD)
    THC May Help To Reduce Damage In Patients With IBD
    An article in Pharmacology explains that THC (and other cannabinoids) may help reduce damage and decrease inflammation in patients with IBD.

    Join thousands of other cannabis patients. Create an account Welcome back, [[ ]]! Access your Dashboard

    Your browser is out-of-date!

    Update your browser to view this website correctly. Update my browser now