Retail sales of medical and recreational cannabis in the United States are on pace to eclipse $15 billion by the end of 2020, an increase of approximately 40% over 2019 sales figures, according to exclusive projections from the 2020 edition of the Marijuana Business Factbook.
Total U.S. sales could rise as high as $37 billion by 2023, according to exclusive projections from the latest Factbook, which was released Monday at MJBizConNEXT Direct.
The coronavirus pandemic, however, has thrown a huge curveball at projections.
To date, spending on adult-use cannabis in markets that aren’t tourist-driven has increased, as have sales in nearly every domestic MMJ market.
However, this increased level of spending comes as unemployed workers continue to receive an additional $600 per week in unemployment benefits. This additional assistance, however, is set to expire at the end of July.
This story was published by MarijuanaBusinessDaily.