Marijuana sales in Missouri totaled $112.7 million in November — the lowest number since the market launched in February and the fourth month in a row that sales have declined.
Marijuana consumers in Missouri bought $96.3 million in adult-use products in November and $16.4 million in medical products, according to data from the Missouri Division of Cannabis Regulation.
The declining sales show the Missouri cannabis market has reached maturity within its first year, said Nicholas Rinella, Chief Executive Officer at Hippos Cannabis, a Vienna, Missouri-based marijuana cultivator. Hippos also operates dispensaries in Springfield, Chesterfield and Columbia.
The ramp up in sales happened more quickly in Missouri then it did in other states that legalized cannabis.
“That's one of the big differences between Missouri and other states,” Rinella said. “Our patients and our customers instantly had access and so they didn't have this slow build up like you did in California or in Colorado.”
Now that the market has matured, monthly sales will ebb and flow with supply and demand, Rinella said. In the winter months, activity slows and so do sales, Rinella said.
Cumulative sales totaled $102.9 million in February, the first month of adult-use sales. March 2023 had the highest cumulative sales thus far at $126.2 million.
