Here’s why Arizona cannabis sales are expected to blossom
Arizona has been setting records in cannabis sales since The Arizona Secretary of State’s office announced the certification of the ballots on Monday, November 30, 2020. According to Marijuana Moment, “in the first year that Arizona adults could legally buy cannabis, they spent slightly more than $1.4 billion on marijuana.”*
Many local shop owners, like myself, have been busy managing the consistent business and interactions with their customers as they continue to flood in. Since the legalization of recreational use, we have seen the demographic of our customer base expand and are thrilled to report a 14% growth in sales at both our Mesa and Flagstaff dispensaries.
Between the legalization of marijuana last year and the rising popularity of cannabis during the pandemic, Arizona is a prime example of how the cannabis industry is growing.
However, will this Arizona cannabis sales trend continue? As a dispensary owner, I can confidently predict yes! And here is why:
The industry is projected to have continual growth
According to a recent article from MSN, there has been a slight decline in marijuana sales since the start of 2022; The Arizona Department of Revenue data reported that Marijuana sales have dropped to $115 million, which is the lowest Arizona has seen since February 2021. However, marijuana remains a billion dollar industry and is projected to have a market worth of $70.6 billion by 2028, according to a study by Grand View Research, Inc.
Regular cannabis consumers will continue to purchase marijuana products
From what I’ve seen as a dispensary owner, although the initial hype may be slowing down, there are tried-and-true cannabis consumers. According to Oracle, “of the consumers who buy from brick-and-mortar dispensaries or use delivery services, the data generally shows that they are loyal to their preferred sellers. In fact, 54% always purchase from the same business, and another 32% usually do so.” At GreenPharms, we have noticed amazing customer retention as well. From July 1, 2021, to April 1, 2022, we have had a customer retention of 76.01%.
Due to the legalization of recreational marijuana, more people than ever can see the benefits of cannabis
Since cannabis has been legalized, other dispensary owners and I have been working to destigmatize the use of marijuana. Now, more people than ever can access cannabis for pain management, relaxation and to boost their creativity.
People from any state can come to states, like Arizona, where cannabis is legal
We have noticed a trend of IDs from various states. This can be due to the influx of people moving to Arizona, as well as visitors who may not have access to recreational marijuana in their own state.
The cannabis industry is here to stay in Arizona and, as a dispensary owner, I am excited to see the innovation and growth in the coming years.
Marie Saloum is the owner and founder of GreenPharms. Founded in 2013, GreenPharms is a signature “deli-style” dispensary with a large hybrid cultivation facility and extraction laboratory onsite. GreenPharms helps familiarize their hundreds of thousands of patients and customers with top-quality products. Proudly providing only the best products and unparalleled customer service, GreenPharms has received numerous Cannabis Industry Awards and recognitions as well as local accolades such as New Times Best of Phoenix Winner. GreenPharms has a location in Mesa and one in Flagstaff. For more, please visit greenpharms.com.