The start of the new year has been pretty amazing for California as the state legalized weed this Monday. Many lined up as soon as it was legalized to buy the marijuana for recreational purposes. California is the sixth state to legalize weed and being the most populous state it had a wide impact on the sale of marijuana. As stated by the law, California adults of age 21 or older can possess as much as an ounce and grow up to six plants at home as of the Monday announcement.
The store owners although did expect a huge demand but according to them hundreds of people lined up hours before the store was opened to buy it. According to Matt Lucero, owner of Buddy’s, a distributor of medical-use marijuana in San Jose who has the first license issued by California to sell recreational marijuana said the day was very occupied due to the exceptionally high demand. He said
"It is probably our busiest day in our seven-year history, We have folks outside; every chair in the building is filled right now. We stocked up tons because we've seen other states, once they go recreational, how most of the dispensaries sell out on the first or second day"
This step also means that many who were reluctant to try it will now also give it a go, Lucero on this regard said "By having the state come in with a regulatory program really helps legitimatize it," he said. "And I think we're going to be seeing a lot of folks who otherwise are a little hesitant to shop at dispensaries."
Lucero also added that the sales profit has been huge, even more than the expected profit percentage. He told CNN that he had estimated a 30% increase in sales overnight, but "it looks, in looking around this room, more like 50 to 60%."
According to the 2017 annual report of New Frontier Data,
"dramatically increasing the total potential size of the industry while establishing legal adult use markets across the entire US Pacific Coast given the legalized states of Washington and Oregon."
Massachusetts is supposedly next in line to legalize it by July. The overwhelming response can be seen as a good thing and we hope the step is towards the betterment of the people, but it is a long way to go before India also thinks about legalizing marijuana.
Stay tuned for more!