Pot sales sky-rocket in Colorado due to legalization
If the Colorados experiment into the world of legal-recreational-marijuana is only measured by pot sales, it appears to be a raving success. According to reports, pot shops have been unable to keep up with the demand. In fact, According to the Denver Post, there have been long lines at all of the thirty-seven stores licensed to sell the drug, and some customers have been willing to wait up to five hours to make their purchases.
Prices have been high for legal pot
What the customers wont find, however, is cheaper prices. In fact, many stores are selling the drug for as much as $50 or even $70 for one-eighth of an ounce. This is particularly high when you consider that those who are able to get a medical prescription for the drug were able to get it for as little as $25 the day before it was legalized. But despite the high prices, customers have been willing to shell out the money and pot sales have been brisk.
The real winners will be the pot shops. In fact, pot sales have almost reached $100,000 at two local shops in Pueblo and have been so high that the owners believe they will sell out soon. In fact, some store owners have said they could be out of the drug as soon as today if the mad rush continues. One store owner in Denver termed the weekend insane. Other stores were already closed by Wednesday morning because they had run out of the drug.
Pot sales force shops to close as predicted due to demand
Experts were not surprised by the onslaught of shoppers. In fact, they have been saying for at least a month that the shops would have to close for awhile due to the high demand. Experts also claim that much of the problem with supply has been due to the difficulty of getting the correct licenses to sale and grow marijuana.
Others note strong demand is also to blame. Surprisingly, or maybe not so much, much of the demand has come from pot users who have traveled across state lines to get the drug. In fact, by most accounts, since the first of the year, more than half of pot sales have gone to non-Coloradans.
Will pot shops continue to be successful?
Its still too early to tell how the new laws for pot sales will affect the state. Some say the efforts at legalization will be hurt by the lack of supply, the extremely high taxes and the rising prices due to high demand. One street dealer noted that many pot smokers may be forced to turn back to illegal pot sold on the streets because of the high costs and the lack of supply.
And thats an interesting question: will users decide to buy the drug on the street? Also, once pot is legal how will the state view pot sales, pot use and purchases made on the street? Currently the street price is as low as $225 to $300. Could this price difference be enough to encourage some buyers to buy the drug illegally and avoid the bureaucratic wranglings of the state? Only time will tell.