Cannabis sales in New Mexico have exceeded $1 billion since legalization

Many New Mexicans celebrate cannabis and the pop culture holiday of April 20. Many local cannabis stores hosted events with food trucks and special sales.

ALBUQUERQUE, NM – Many New Mexicans celebrate cannabis and the pop culture holiday, April 20. Many local cannabis stores hosted events with food trucks and special sales.

As the years have gone by, there have been more and more stores to choose from, and total sales in New Mexico topped a billion dollars last month.

“I’m from Taos. So if you go to Taos, there are probably about 10 open. It’s crazy,” said Brittany Struck, store manager of Dreamz Dispensary.

Struck talks about cannabis stores in New Mexico. It seems like they are a dime a dozen these days, on every street corner and in every shopping center.

On Saturday, the Dreamz pharmacy on Lomas hosted a 4/20 party. Struck says the party is a celebration of all the good she’s seen medical cannabis do over the years.

“I’ve heard all these great stories, you know about cancer, you know, medical care for cancer patients. People have anxiety, ADHD, OCD. My brother has Tourette’s and uses cannabis, and it helps him,” Struck said.

Recreational marijuana was legalized in our state in 2021. The Dreamz Dispensary opened last September, joining dozens of stores in the metro.

Mary Galaviz specializes in finding the right cannabis strain for your needs. She says one thing she notices about many cannabis stores is that some are not as knowledgeable about all the products as others.

“Other things I’ve heard are that they don’t provide any information about the benefits to your body. How it benefits your body, mind and organs and what it can do for you in terms of healing and becoming more responsive to your body,” said Galaviz.

According to the Cannabis Reporting Online Portal, cannabis sales in New Mexico totaled more than $52,507,206.07 in March of this year. Adult sales accounted for the majority of that $39,464,523.16.

Struck says that despite all the new stores, she feels like there is plenty of business, especially on April 20.

“If you know what you are doing in the business and know the laws and regulations, you have a good chance of being successful. I feel like a lot of people are legalized, and they have money, and they say, ‘Let’s open one up,’” Struck said.

The Cannabis Reporting Online Portal shows that March 2023 medical sales totaled just over $15 million that month. Sales for non-medical adult use totaled nearly $32.5 million dollars.

The data shows that in April 2022, adult-use sales were barely over $22 million. Medical sales were a lot higher, closer to $17 million.

The Cannabis Reporting Online Portal also shows that there are currently a total of 1,027 dispensaries in New Mexico.