As recreational marijuana sales began on April 1, 2022, long lines formed outside of state-licensed dispensaries across New Mexico. This was a major milestone for local law enforcement, taxation officials, commercial growers, and residents who were still struggling to come to terms with the legalization of pot.
Patients with a valid PPL can buy up to 230 units or 8 ounces of cannabis in a 90-day period. This number is tracked and deducted from a patient’s available units after each purchase.
Value
As a new state, New Mexico’s recreational market has yet to see a true drop in prices. While other states have seen significant drops in the cost of marijuana due to increasing production and falling demand, New Mexico’s law limits commercial producers to 20,000 mature plants per license.
Despite those limitations, some growers are concerned the state is allowing cannabis to become an increasingly scarce commodity. That fear is exacerbated by the fact that New Mexico’s marijuana growers are still not ramping up to the level that would be necessary to meet the demand of its growing population, said Duke Rodriquez, CEO and president of Ultra Health, based in Bernalillo.
Licensed dispensaries across New Mexico have sold close to $40 million in the first month of recreational sales, according to figures released by the state Tuesday. In Albuquerque, customers poured nearly $1.5 million into the market from April 1 to 7, according to figures from the state’s Cannabis Control Division.
Atmosphere
Albuquerque, New Mexico’s largest city, is a place with a rich history that combines beautiful outdoor parks and hiking trails with a laid-back, cannabis-friendly atmosphere. Recreational dispensaries in New Mexico are a part of this atmosphere, and they provide easy access to the state’s cannabis products for those who want to indulge.
The state of New Mexico has a lot of rules to keep in mind when starting a recreational marijuana business. Not only do you need to comply with the state’s zoning regulations, but your local government may have its own restrictions as well.
For example, there are rules about how many retail outlets can be open within a specific area and what distance they should be located from schools, daycares, and other retailers. In addition, there is an excise tax of 12% on recreational marijuana sales. Those taxes go to the state’s general fund, but medical patients are exempt from this tax.
Product Selection
New Mexico’s recreational cannabis shops offer a wide range of products to suit your tastes and needs. They have everything from high-quality flowers to smoking accessories and infused salves.
Flower is one of the most popular products in New Mexico’s market, with many shops focusing on classics like Blue Dream and Wedding Cake. But they also carry rare strains and even craft their own genetics.
Another popular product is edibles, which are available in a variety of forms. These include solid items like chocolate or gummies, as well as sweet beverages that taste like soda.
Medical patients can also choose from capsules, which contain a gram or half-gram of THC oil. They affect the body much like edibles do, but are more often consumed by swallowing them rather than inhaling them.
When selecting the right dispensary, make sure to find one that offers a variety of products, and offers knowledgeable staff. They will be able to guide you through the process and help you pick out the right product for your needs.
Customer Service
Like any other retail business, customer service is a crucial element of success. It’s a big part of how dispensaries attract and retain customers, so it’s important to select employees who are passionate about cannabis products and who can deliver a high level of customer service.
New Mexico’s medical marijuana dispensaries are already well-established and ready for the launch of recreational sales on April 1. They’re expecting a surge in consumer demand when the state goes live, so they’ve stocked their shelves with a lot of inventory.
In addition, many dispensaries across the country are using a robust point-of-sale (POS) system to keep track of inventory. Once the recreational market opens, this type of system is expected to become even more critical.
The Cannabis Control Division (CCD), a division of the Regulation and Licensing Department, is responsible for regulating cannabis businesses in the state. They’ll also create rules on advertising, health and safety, testing, labeling, and packaging.
