Cannabis sales in New Mexico surpass $4MM during opening weekend
ALBUQUERQUE, N.M. — On April 1, 2022, the first legal sale of cannabis in New Mexico took place at R.Greenleaf in Las Cruces at 12:01 a.m.
“It overdelivered. At 7 p.m. when I got to the store Thursday night, we had about 10 people already in line. When I came back at 11:30 p.m. right before midnight, we had 500 people in line,” Steve Pear said.
Pear is the president of the New Mexico Division of Schwazze, he said after that first sale was made business has been non-stop at his dispensaries around the state.
“All at least doubled their business and we even had one of our stores to ten times what they normally do in a day on Friday,” Pear said.
According to the Cannabis Control Division, as of 12:30 p.m. Sunday, this weekend brought in just over $4.5 million in total sales, with $2.7 million sold on Friday alone, nearly 70% of the sales coming from recreational users.
“It’s really cool to see all that business flowing into New Mexico,” Gary Cohen said.
Cohen is the CEO of COVA software; they have a partnership with R.Greenleaf.
Cohen’s program is playing an integral role in the transition dispensaries in New Mexico are making now that they can sell recreational marijuana.
The program classifies what can be sold to a medical patient and recreational user according to state law, making it easy for businesses to report sales back to the state.
“We’re compliance first and compliance is the number one job in the cannabis industry just to do things right so that the states can look at the federal government and say, we got this, you know, we’re doing it,” Cohen said.
With new recreational customers hitting New Mexico dispensaries, owners believe the surge in sales will last a little bit longer, especially with 4/20, the day that celebrates weed just around the corner.
“I think with 4/20 right around the corner, I would imagine we’ll see a surge through then,” Pear said.
A concern was that stores would run out of products because of a surge in sales.
Pear said their locations are stocked up and don’t expect to run out.
Cannabis sales in New Mexico surpass $4MM during opening weekend
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