2020 Pandemic effect on Marijuana Sales

2020 Pandemic effect on Marijuana Sales

Marijuana is the most commonly used drug in the United States, whether it is for recreation or medical usage. From 2019 alone, there has been a 67% increase in people using it. So why are more people using cannabis? Well, as we all know, 2020 was an interesting, stressful, and dangerous year. With the election, natural disasters, and the pandemic running rampant, many people have been struggling to keep up. Even though individuals have been trying to cope, marijuana sales are seeing numbers they have never seen. In this guide, we go over how the 2020 pandemic affected marijuana sales.

Stress Relief

2020 was a stressful year. 72% of Americans claimed that COVID-19 was their main form of stress. From people losing their jobs, houses, friends, and family, many of us have had a hard time coping. Many people turned to marijuana to help them relax and move on with their lives. 2020 saw customers increase their cannabis spending from 25% to 40%. Many researchers believe that with more time spent at home and more stressors, people consumed more cannabis to handle what life was throwing at them. While not everyone enjoys marijuana, CBD oil and hemp sales increased tremendously as well.

More Ways to Shop

Just like many other stores and shops, marijuana dispensaries have joined in on curbside and online ordering. Luckily many states considered marijuana businesses as essential, so they stayed open and operated while many other retail stores had to close. Being able to continue operation allowed them to take on more customers, which in turn, rapidly increased sales. Plus, stressed people who have nowhere to go except to curbside pick-up areas, you were bound to see more people visit marijuana dispensaries.

Access Through Legislation

16 states legalized marijuana with many other states having it decriminalized. 2020 alone had many states (including red states) also in the talks of legalizing it. And more legalization means more purchasing. In 2020 alone, nine states with legalized marijuana stated that they have doubled their sales due to the pandemic. Florida made $1.2 billion in cannabis sales in 2020 making them one of the top markets in the US. As more and more states legalize cannabis, researchers predict that sales will continue to grow tremendously.

While the marijuana industry still has its ups and downs, they had a pretty great year for sales in 2020. We cannot wait to see what the next years bring to the cannabis industry. Do you want to learn more about new marijuana medical advances or news, then you need to check out Medwell Health’s YouTube channel.

 

Leave a Reply

Your email address will not be published. Required fields are marked *