NYC's Second Weed Shop Coming Soon, More Rec Licenses In NJ & Latest Cannabis Sales Trends

New York City To Get Another Cannabis Shop

Manhattan will get its second dispensary on the heels of launching recreational cannabis sales on Dec. 29 at Housing Works' store, nearly 20 months after former Gov. Andrew Cuomo signed recreational marijuana into law.

The "Union Square Travel Agency: A Cannabis Store," located at the corner of Broadway and East 13th Street, across from the Union Square subway station will launch sales in February, reported Green Market Report. The soft opening is scheduled for Friday at a facility with an entrance at 62 East 13th St.

Meanwhile, New York state's illicit marijuana market is thriving. To tackle the issue of retailers who are selling stickers and "gifting" their customers with cannabis, state officials and lawmakers met last week to discuss how to put an end to stores "illegally dispensing and selling marijuana" by using a loophole in the state's law.

Cannabis Sales Trends In North America

Colorado marijuana tax revenue dropped nearly $100 million over the past year, reported 9News.

The Marijuana Industry Group attributed the drop to a sharp decline in sales in 2022.

According to the Colorado Department of Revenue, the Centennial State pulled in $423 million in cannabis tax revenue in 2021, as compared to $325 million last year.

Combined marijuana sales amounted to $2.23 billion in 2021, compared to $1.62 billion from January to November of 2022.

Meanwhile, interest in legal cannabis among Canadians seems to be growing.

The results of the 2022 Canadian Cannabis Survey suggested that more users were choosing legal retailers when purchasing marijuana in 2022 compared to 2021.

Those who bought cannabis in the past 12 months from a legal storefront did so 61% of the time, the poll showed - up from 53% from the year before.

New Jersey Regulator Greenlights Over 50 Rec Marijuana Licenses

New Jersey's regulatory body recently greenlighted 56 recreational cannabis licenses, including 42 conditional, six conditional to annual conversions and eight annual licenses, reported Heady NJ.

Jeff Brown, executive director of the Cannabis Regulatory Commission said during a meeting held on Jan. 12 that they received a total of 1538 applications so far, out of which 1497 were accepted.

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