People in North America have grown to expect to see a Starbucks outlet almost on every street corner. However, available information on cannabis sales suggests that marijuana could overthrow this coffee giant as legal sales of marijuana exceeded those recorded by Starbucks by a wide margin. This is no small feat by the marijuana industry, given the fact that only 39 of all the states in the U.S. have legalized marijuana in some form, either for medicinal or/and for recreational purposes. In contrast, Starbucks has been around since the early ‘70s, and coffee has always been legal, while the legal marijuana industry traces its journey to 1996 when California voters approved a measure establishing a medical marijuana industry. The journey to complete legalization across the country is still on. This history makes the 2021 sales records for marijuana and Starbucks all the more fascinating. Both industries grew last year, with Starbucks revenue increasing by an impressive 25%. However, marijuana edged Starbucks on the growth scale; cannabis sales saw a year-on-year growth of 30%.
CannabisNewsWire, 05/23/2022 04:20:00