Massachusetts Cannabis Retailers Pass $7B Sales Milestone

Officials with the Massachusetts Cannabis Control Commission (CCC) announced last week that in November, licensed cannabis dispensaries in the state surpassed $7 billion in gross sales since the adult-use market launched in 2018. Medical cannabis sales, meanwhile, have reached $1.4 billion since 2018, which is when the CCC started tracking sales under the medical program.

Regulators noted that the adult-use sales milestone was reached ahead of “Green Wednesday,” the day before Thanksgiving, which is regularly one of the biggest sales days for cannabis retailers. During this year’s Green Wednesday, licensed retailers sold $7.9 million worth of cannabis — nearly $500,000 more than last year — and it was the second-biggest day of sales after this year’s April 20 consumer holiday, officials said.

“These sales figures demonstrate that Massachusetts customers remain loyal to their local cannabis businesses, they trust the Commonwealth’s regulated marketplace and tested products, and they will continue bolstering the longest-running adult-use market along the East Coast. We look forward to tackling ongoing policy matters in 2025 that will further strengthen our market— beyond recent regulatory changes for delivery and microbusiness licensees—and the upcoming implementation of a new social consumption framework.” — CCC Acting Chair Bruce Stebbins, in a statement

Coinciding with the sales surge, the average price of cannabis flower in the state fell to about $4.58 per gram, according to Metrc data. Adult-use cannabis taxes include a 6.25% state sales tax, a 10.75% state excise tax, and up to an additional 3% as a local tax option for cities or towns.

Meanwhile, Massachusetts regulators last month revealed plans to license different types of social cannabis consumption sites including cannabis tasting rooms, cafes, lounges, and even movie theaters.