Data suggests there are more cannabis stores than McDonald’s and Starbucks

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Data suggests there are more cannabis stores than McDonald’s and Starbucks

Bethan Rose Jenkins, Cannabis News Writer/Editorial

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The newly published Marijuana Business Factbook contains some interesting insights into the dominance of cannabis stores in mature markets. 

Included in the Factbook is an in-depth market analysis, regulatory insights and investment updates, as well as quarterly updates that run through February of next year. According to the recently released report, which is published on an annual basis, the number of cannabis stores has exceeded Starbucks in many weed-friendly states.

Starbucks, which was founded in 1971, is rumored to become the first coffee shop franchise to introduce a range of cannabis-infused drinks. Nothing has been confirmed just yet, however, but with the number of cannabis stores throughout the U.S. constantly climbing, it likely won’t be long until Starbucks joins the “Green Rush.”

Seattle’s Starbucks locations are on par with the number of cannabis dispensaries 

Although the hometown of Starbucks, Seattle, dominates with its barista scene, Factbook researchers say that the number of cannabis retailers in Alaska’s Anchorage – where a new market is emerging – is on par with the number of Starbucks locations. The number of pot shops in comparison with Starbucks locations is almost double in Denver and Portland.

State regulations have been attributed to the proportion of cannabis dispensaries to Starbucks retailers. Statewide caps have been imposed on the number of cannabis retailers allowed in Washington, whereas in Alaska, Colorado and Oregon, there is no limit on the number of permitted cannabis stores.

Starbucks maybe take the lead in freshly brewed coffee, but McDonald’s rules the roost for fast food services. The world-renowned brand was overshadowed by cannabis in all four of the aforementioned legal markets, according to the Factbook. 

Restaurant sales are being overtaken by cannabis sales in the U.S.

A separate report carried out in 2016 by the Rocky Mountain High-Intensity Drug Trafficking Area (RMHIDTA) revealed how Colorado – which, along with Washington State, became the first places on the U.S. map to legalize cannabis – has a generous amount of dispensaries, even though 66 percent of local jurisdictions outlawed medical and recreational cannabis dispensaries. 

The report tallied the number of dispensaries at 491 out of a registered 504, while the number of Starbucks locations rested at 392 and McDonald’s at 208. If that wasn’t enough to put things into perspective, more than $11 million was accrued by Oregon in taxable state revenue during its first official week of legal recreational cannabis sales; more than the taxes collected from restaurant sales.

A more in-depth insight into the most recent cannabis sales data is contained in the 7th edition of the Annual Marijuana Business Factbook. You can read it here.