Ohio recreational marijuana sales exceeding expectations after first week

CUYAHOGA FALLS, Ohio (WJW) – After the first week of adult-use recreational marijuana across Ohio, the numbers have exceeded the expectations of even some retailers who are doing business in other states.

The Ohio Division of Cannabis reports that in the first week of sales, over 1,200 pounds of recreational use marijuana has been sold, bringing in more than $11 million.

Headset Data, which tracks data from multiple cannabis retailers across the country, reports that combined medicinal and recreational cannabis sales jumped over 270% in the state in just one day with retailers averaging $12,000 to almost $34,000 in one day from Aug. 5 through Aug. 6.

“We’re thrilled by the enthusiastic response from our local communities as recreational cannabis sales begin in Ohio. Since transitioning the first four of our stores, we’ve seen an initial revenue surge by at least three times previous sales and in some cases even higher multipliers. The excitement is palpable, and we look forward to watching this momentum continue to build as we serve our customers,” said Kathleen Olivastro, senior vice president of retail from multi-dispensary operator Ascend Wellness Holdings.

Headset Data also reports that an average of 68% of all legal marijuana sales in Ohio are now recreational marijuana, far and fast outpacing the sale of medicinal marijuana.

Steven Delich, a regional vice president of retail for Curaleaf, which has dispensaries in Cuyahoga Falls and Newark, says the numbers are about what they have experienced.

“Newark is very in line with that. In that market average, we are seeing about 67% of our sales as adult-use sales, whereas in our Cuyahoga Falls, Akron, we are seeing a little bit more heavy in terms of our medical traffic,” said Delich.

The difference in the numbers for their Cuyahoga Falls dispensary are attributed to the fact that they started sales of adult-use recreational marijuana on Aug. 7, one day after many other retailers in the state started their sales.

“In reference to the first week of sales, our first day of sales exceeded expectations and it continues to exceed expectations for us as a company. Foot sales on day one and net sales on day one nearly doubled over our daily average,” said Delich.

Regarding its first week of recreational cannabis sales, the Division of Cannabis Control issued the following statement to FOX 8:

“The Division of Cannabis Control has been closely monitoring these first days of non-medical sales and has been extremely impressed with the level of seriousness and responsiveness the industry has been in meeting the requirements to participate in non-medical sales. We attribute this rollout, which happened well in advance of the Sept. 7 deadline, to a significant amount of work conducted by the Division since voters approved Issue 2 last November. As we move forward, the Division’s top priority will remain on the safe and legal sale and regulation of both medical and non-medical cannabis for Ohioans who choose to use them.”

With the industry still in its infancy in Ohio, Delich says as the seventh largest state in the country, the potential for growth here is enormous.

“We are excited for the potential of the Ohio market to exceed $2 billion,” Delich said.

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