Right on time, the big Midwest states’ cannabis sales have plateaued. Every fall sales in Illinois and Michigan flatten out and then tend to stay consistent until the weather warms up and sales scale up in the spring. Meanwhile, medical sales in Michigan continue to plunge as Ohio and Missouri’s medical sales steadily grow.
But a number of big changes are on the horizon, as Missouri plans to launch adult use sales in March 2023 and last week Illinois regulators began to approve new dispensaries owned by social equity license holders. With new stores coming to Illinois, perhaps we’ll see a sales increase there this winter – despite its expected loss of Missouri residents crossing the Mississippi.
While Michigan’s adult use cannabis bump up against $200 million a month, its medical sales continue to plummet, just $15 million in October, a rate lower than any time in the last two years. The decline is particularly difficult for dispensaries in medical-only municipalities like Detroit, where there is no option to transition to adult use sales.