Something has gone mysteriously missing from Michigan’s cannabis industry over the last six months: cannabis sales.
Statewide sales hit a peak in July 2020, then began trending downward. What’s going on?
After opening the state’s first adult-use stores in Dec. 2019, Michigan’s cannabis industry saw sales increase month-over-month at a sharp incline. Recreational and medical sales combined for $25 million in revenue in Jan. 2020; by July 2020, the state was recording nearly $110 million in combined monthly sales.
But then something happened.
Sales began to gradually fall. Combined medical and adult-use sales hit $92 million in Nov. 2020, and rebounded only slightly to $101 million in December.
It’s typical for Michigan’s…
To continue reading, visit the original article at https://www.leafly.com/news/industry/michigan-cannabis-sales-are-down-and-the-reason-may-be-in-your-neighbors-backyard