DENVER (KDVR) — A local college professor says he’s competing in a competitive field, consulting for cannabis dispensaries across the country and in high demand.
Shannon Donnelly, an adjunct professor of cannabis studies at Michigan State University in Denver, said Colorado’s dispensary market is very different from when voters approved recreational marijuana sales in 2012.
“You can’t compete just by having marijuana on the shelf,” she said.
Donnelly said the business model is now shifting from catering to tourists visiting the state to catering to people who live in Colorado.
“It’s not like you can just open a pharmacy and get rich anymore,” Donnelly added. “You need something that sets you apart.”
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“This is the most competitive period in our 11-year history…marijuana sales have plummeted since the pandemic,” a spokesperson for Denver’s Excise Tax and Licensing Department said.
One reason for the decline, according to the spokesperson, is that consumers are deciding to cut back on discretionary spending, potentially taking a toll on marijuana purchases.
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