Marijuana Sales News Update Today:
There are currently 23 medical marijuana states in the U.S. and four other recreational marijuana states across the country. More states are expected to reform marijuana laws in 2016 which means that the business of marijuana should continue to thrive. The marijuana industry in the U.S. has turned into a billion dollar industry and it is still growing. Just last year, the marijuana industry grew by approximately 74 percent according to the investment firm ArcView Group. More specifically, the ArcView Group states that marijuana sales hit the $1.5 billion mark in 2013 and then hit the $2.7 billion mark in 2014. Colorado, which has passed law to allow medical and recreational marijuana sales, surpassed the $800 million mark in retail and whole sales last year. The business of legal marijuana is very big, and only positioned to get bigger. The sale of marijuana in the U.S. is entering the mainstream marketplace and marketing acknowledges the holiday sales time as a time to target potential customers. Marijuana even has its own Black Friday push.
Black Friday and Marijuana Sales in the United States:
The Friday after the Thanksgiving holiday in the U.S. is a time when many Americans begin their holiday shopping. All types of businesses offer special deals to attract customers and now, the marijuana industry would like to enter the Black Friday sales arena as well. The Black Friday spin for the marijuana industry is a little different though, as some might expect. In Colorado, instead of referring to Black Friday, some marijuana advocates refer to the day as Weed Friday and others are calling it Green Friday. Green Friday is a day that many marijuana shop owners offer customers special deals, incentives and discounts on various types of marijuana, marijuana related products, and marijuana related gift sets. The Black Friday concept is generally the same as marijuana businesses attempt to attract more customers by offering special deals on product.
Legal marijuana sales is big business in the U.S. and Black Friday/Green Friday is just another part of that big business. The sales registered will help the marijuana industry surpass the billion dollar sales mark again this year. 23 states have approved medical marijuana and four states have approved recreational marijuana. The federal government still lists marijuana as a Schedule 1 drug and prohibits it across the nation. Just think of the potential of a marijuana industry that is legalized in more states, or dare I say the federal government. This may just be the beginning.