WASHINGTON STATE — Cannabis sales across Washington have been on a downward trend for five consecutive years, with no signs of stopping, according to the Washington Department of Revenue.
According to the Washington Liquor and Cannabis Board (WLCB), the decline in sales largely relates to an oversupply of cannabis, which has driven prices down and reduced overall revenue to pre-pandemic levels.
"The price of cannabis is going down, and the price of everything else is going up," said Ocean Greens, owner of a north Seattle pot shop.
The Washington Department of Revenue reported that $277 million worth of cannabis was sold statewide in the first quarter of this year. That figure is nearly $100 million less than in 2021, when sales peaked during the pandemic. Additionally, statewide sales numbers show yearly cannabis sales have declined annually since 2021.
"It is a pretty big surprise, because usually this place is pretty busy when I come here," said pot shop customer Jacob DeAngeles, noting the change in sales dynamics.
Despite the decline in revenue, several pot shops in Seattle reported that they are still seeing the same number of customers as during the COVID-19 spike. However, the difference lies in the significantly lower pot prices, even as the cost of living continues to rise.
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