On April 20, marijuana smokers, dispensaries, and advocates celebrated the “420” holiday that praises the consumption of pot. In New Mexico, the formerly contraband drug was legalized beginning on April 1, 2022.
In 2022, New Mexico pot sales on the unofficial stoner holiday hit $1.12 million, according to Albuquerque Business First. However, in 2023, those numbers grew exponentially.
New Mexico sales of marijuana on April 20, 2023, rose 86 percent from last year to hit $2.82 million.
“This year’s 4/20 average transaction total was $50.28, up from the March average of $44.60. Hobbs recorded the highest average transaction size at $94.96,” reported the outlet.
The sales increase may also have something to do with the jump in dispensaries in the state, with 1,421 retail licenses in 69 towns in 2023 versus 681 stores operating in 37 towns in 2023.
The massive jump in sales also meant a 124.72 percent jump in transactions from last year to now, with 22,402 transactions in 2022 versus 50,342 transactions in 2023.