The burgeoning cannabis industry in Colorado got off to an overwhelming start New Years day, bringing in more than $5 million in a single week, as tourists and locals alike lined snowy streets to await their chance to purchase the first batches of legalized weed. Many pot shops underestimated the opening week flurry of thousands of eager customers and as a result, supply was running low and several shops were imposing caps on the amount each customer could purchase or raising the prices to avoid a deficit of supply—but only temporarily.
Last week Toni Fox—who owns the 3D Cannabis Center dispensary where the first ever legal sale took place—told Colorado Springs Gazette that before 2014 the dispensary served just 25 medical patients per day, but on January 1 they served 450 customers and had to and turn 60 people away. Fox said in the article that she was concerned about running out of supply if the “mad rush” continued at that pace.
But the rush is easing up. Pete Vasquez, general manager at the Medicine Man dispensary in Denver, told Huffington Post that compared to last week the crowds are smaller and they’re not selling out.
“From customers I’ve heard that no one else is selling out either, it’s just something going around on the news,” he said.
Mason Tvert, director of communications for the Marijuana Policy Project, said the idea of shops running out of pot was overhyped by the media.
“This is a historic occasion, so it’s not surprising that the demand has been greater than usual,” Tvert said. “Like with iPhones, there are those who want to be the first to get them and are willing to wait in line until the product sells out. Not long after, it becomes just another product that people are able to purchase without waiting in line and there is plenty in stock at all times. It won’t be long before the experience of buying marijuana becomes similar to that of buying alcohol.”
– Read the entire article at AlterNet.