NJ’s First Day of Recreational Sales Generated Nearly $2M

Industry News - NJ’s First Day of Recreational Sales Generated Nearly $2M

According to data from the state Cannabis Regulatory Commission, on the first day of legal recreational sales in New Jersey (April 21), over 12,000 people bought nearly $2 million worth of recreational cannabis goods.

More precisely, 12 dispensaries from the Garden State generated an amazing $1.9 million in sales.

Under the new regulations, New Jerseyans can now buy up to an ounce of recreational marijuana for smoking. Ten packages (100mg) of edibles, and five grams of oils, resins, and concentrates.

Despite concerns that recreational sales might harm the supply of medicinal users, the medicinal market remained strong, with almost 64,000 ounces of prescription cannabis products supplied to patients and caregivers.

In fact, one day before the recreational market opened, on April 20, dispensaries sold more than twice the daily average compared to the previous month, or 5,400 ounces. Moreover, they sold an additional 7,500 ounces to patients in the five days following.

The New Jersey cannabis commission recently permitted 13 alternative treatment centers — aka medical marijuana dispensaries — to sell recreational marijuana in an attempt to expedite the beginning of the state’s recreational market.

Given that on April 20, the unofficial marijuana holiday, many dispensaries offer discounts on their cannabis products, and some even offer free weed samples, state officials intentionally picked April 21 as the opening day to avoid dispensaries being overwhelmed with customers.    

Nevertheless, buyers in New Jersey won’t be allowed to legally transport marijuana outside the state since federal legislation has not yet allowed the use of marijuana nationwide. Likewise, they cannot possess more than six ounces of weed.