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After only one week of recreational cannabis sales, dispensaries in Oregon have sold an estimated $11 million worth of cannabis products.

A dispensary called Nectar, on Northeast Sandy Boulevard and 33rd Avenue, cannot restock shelves quickly enough to keep up with consumer demand.

“We’re seeing about 500 people a day,”

said Jeff Johnson, owner of Nectar.

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Having been in Denver and Seattle when recreational sales began, we can tell you it’s a lot like Black Friday. People start lining up hours before the store opens, buzzing with excitement and ready to be a part of history.

“It’s exciting,”

said a customer named Peter.

“It’s just really weird, it feels like it’s not even really happening to be honest, it’s really bizarre.”

Another  curious customer, Emily Szczech had a different motive.

“We just wanted to come in and check it out,” she said. “We’ve never been able to go into one of the stores to see what it’s like.”

The Oregon Retail Cannabis Association told reporters at KGW Portland that they estimated $3.5 million in sales happened on the first day of legal retail sales. What’s most impressive is the speed at which Oregonians adopted the new law. In comparison, Colorado sold roughly $5 million in their first week of legal recreational sales.

A number of factors played into the early success of Oregon retail sales, including the number of operating dispensaries open for business on ‘Day 1.’ There were far more ready and waiting in the Beaver State than there were in Colorado or Washington.

When Measure 91 passed in Oregon, the state estimated they would bring in $9 million in tax revenue for the first year full year of sales, but the Oregon Retail Cannabis Association thinks that number may be three or four times that figure now that the first week is complete.

All sales of recreational cannabis in Oregon are tax-free until January 2016, when a 25 percent tax is to be added to all sales.

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photo credit: Nectar

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