Supply and Demand

[dropcap class=”kp-dropcap”]C[/dropcap]annabis sales have surpassed liquor sales in the resort city of Aspen, making cannabis the number one inebriant in the city. According The Aspen Times, this is the first time annual cannabis sales have eclipsed alcohol sales in the city.

Aspen is home to a specific breed of the cannabis consumer—one that is shaped by the city’s burgeoning tourist culture. The town is the destination for thousands of ski tourists each year, plus the longtime home of Gonzo journalist Hunter S. Thompson.

Apart from the resort city’s perfect powder conditions on the slopes, its approach to cannabis is also outstanding. Aspen was one of the first Coloradan cities to open up a cannabis shop, just three months after the state’s first day of recreational cannabis sales.

“Marijuana [sales] have been growing at a large rate since the inception of legalization in 2012, it was only a matter of time until it surpassed liquor.”

On Feb. 7, in a memo sent from the Aspen City Council to Aspen Finance Director Don Taylor, the city’s December 2017 Consumption Tax Report was released and included yearly figures that shed light on consumption habits in Aspen. Cannabis was among the city’s fastest growing industries. “Industries posting the largest monthly gains were Automobile, Marijuana and Luxury Goods with 46 percent, 16 percent and 14 percent increases, respectively,” the memo read. In fact, cannabis was the fastest growing retail sector out of 12 retail sectors that the city government is keeping tabs on.

The figures indicate that while 2017 total liquor sales in Aspen amounted to $10,512,216, 2017 total cannabis sales in Aspen amounted to $11,325,092, almost one million dollars more in sales.

Taylor directed us to Anthony Lewin, CCA, who is tax auditor for the city of Aspen. Lewin explained that there are multiple factors that contribute to the rise in cannabis sales, adding that he’s not surprised.

“I wouldn’t attribute the rise in marijuana sales to anything in particular,” Lewin told CULTURE. “Marijuana [sales] have been growing at a large rate since the inception of legalization in 2012, it was only a matter of time until it surpassed liquor.” The increase in sales is nothing new, either. Cannabis sales rose 16 percent in 2017 compared to sales in 2016.

Within city limits, cannabis shops also outnumber liquor stores. Aspen’s six cannabis shops now top the city’s five liquor stores. Before the shop Leaf closed recently, there were seven cannabis shops in the city.

Despite the promising cannabis sales numbers, liquor remains an alluring draw for tourists in Aspen. In the month of December 2017, liquor sales topped cannabis sales, probably with the help of New Year’s Day and the holidays. Liquor sales raked in $1,578,724 in December 2017 compared to cannabis’ $1,246,650 in sales.

A recent study by researchers from Georgia State University confirms suspicions that cannabis sales significantly impact alcohol sales. Researchers found a 15 percent drop in alcohol sales in states that legalized medical cannabis. The study spanned a 10-year period, ranging from 2006 to 2015.

Aspen is just a precursor to what we might see happening soon in other cities that allow cannabis sales. The prospect is exhilarating.