New Mexico’s adult-use cannabis sales bolstered by tourism, Texas residents

It’s been a little more than a year since New Mexico launched adult-use cannabis, with sales topping $300 million during the initial 12 months.

The state brought in a record $32 million in recreational sales during March alone and is well on its way to reaching $400 million for 2023, as projected by the 2023 MJBiz Factbook.

ADVERTISEMENT

Large population centers – including Albuquerque, Las Cruces and Santa Fe – are driving much of those sales, according to data from the New Mexico Regulation & Licensing Department.

Stores located in Albuquerque accounted for nearly 31% of total adult-use sales between August 2022 and February 2023.

That number increases to more than 36% if sales from nearby metro communities – such as Bernalillo and Rio Ranch – are included.

Either way you slice it, the Albuquerque market is dominating marijuana sales in New Mexico.

For example, Sante Fe,

The post New Mexico’s adult-use cannabis sales bolstered by tourism, Texas residents appeared first on GrowCola.com.

It’s been a little more than a year since New Mexico launched adult-use cannabis, with sales topping $300 million during… Continue reading
The post New Mexico’s adult-use cannabis sales bolstered by tourism, Texas residents appeared first on GrowCola.com.