Buzz-ness is booming: State dispensaries have most successful month yet

Illinois’ cannabis dispensaries had their most successful month in June in the fledgling recreational market, with almost $48 million in total sales.

Of the $47.6 million, about $35 million came from in-state sales, according to newly released figures from the Illinois Department of Financial and Professional Regulation.

Andy Seeger, an independent cannabis economist, said sales likely would have been higher were it not for the coronavirus shutdown, among other things.

“We would be expecting much larger month-over-month numbers if Illinois had been a healthy market,” Seeger said. “Right now, with [COVID-19] and the expanded medical model . . . in place in Illinois, it’s just very constrained on the supply side. There’s not enough canopy space coming online for those that have licenses right now. And any future licenses have been pushed back as the state focuses on its COVID response.”

June’s sales didn’t quite match the growth from April to May of this year, when there was about a 19% jump. The growth from May to June was about 7.5%, according to the state.

“We saw a lot of people kind of spending at the beginning of May. As COVID was setting in, there was kind of a run on dispensary items.” Seeger said.