November 27, 2018

Massachusetts retailers sell $2.2M of recreational marijuana in first week

Photo | Zachary Comeau
Stephen Mandile of Uxbridge makes the first legal purchase of marijuana on Nov. 20 at Leicester dispensary Cultivate.

The first week of recreational marijuana sales in Massachusetts brought in more than $2.2 million in combined revenue from the state's first two cannabis retailers.

Cultivate in Leicester and New England Treatment Access in Northampton combined for $440,011.30 on the first day last Tuesday, $441,540.16 on Wednesday, $479.748.58 on Friday, and $468.325.32 on Saturday. Sales fell below the $400,000 mark to $387.995.77 on Sunday.

Both stores were closed on Thanksgiving.

For the first week, the stores reported a combined 56,380 products sold and an average of just under $40. Customers are averaging 3.4 products per transaction.

At a state sales tax rate of 6.75 percent and another 10.25-percent state excise tax, the first day of legal cannabis sales brought in about $377,000 in state tax revenue. Leicester and Northampton combined for about $66,500 in local taxes based on a three-percent local tax on cannabis products.

The financial data wasn't broken down by individual store.

Long lines have been a common sight at both stores, with customers traveling from as far as New Jersey to purchase marijuana from the first two pot shops east of the Mississippi River.

The small town of Leicester held an emergency meeting Monday to address the issue of the long lines and thousands of customers descending upon the small town, clogging major roadways and disrupting neighbors.

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