San Francisco's taxable cannabis sales dropped 35% from a 2021 peak.
In the first three months of 2024, San Francisco recorded $46.7 million in taxable cannabis sales, the first time in at least five years that sales dipped below $50 million. This represents a $5.6 million decrease from the previous quarter and $7.
1 million less than the same time last year. The latest numbers, courtesy of the California Department of Tax and Fee Administration, mark a 35% decline since the peak in sales in mid-2021. Despite the decline, San Francisco remains a leader in per capita cannabis sales. During the first three months of 2024, there was $55 in cannabis sales per resident, a high consumption rate compared to other parts of the state. Ex // Top Stories Establishing a base in the SF mayoral race with office space Candidates are setting down roots with headquarters across The City, and most campaigns shrug off any major symbolism or strategy in their chosen locations. SF officials say City Hall vandalized with racist, sexist slurs Mayor London Breed said that the vandalism was discovered by multiple city employees who showed up to work early Wednesday morning How Mayor Breed wants to close $800 million deficit The proposal is the reflection of a city at a crossroads. Revenues have slagged in its post-COVID economic malaise and failed to keep up with its spending Historically, San Francisco's per capita cannabis sales were nearly four times higher than those in San Diego and Los Angeles. However, recent data shows a narrowing gap. San Francisco's current per capita sales are now only 50% higher than San Diego’s and twice as high as Los Angeles’s. Both San Diego and Los Angeles saw increases in sales during 2020 and 2021 before plateauing, while San Francisco has continued to decline since its peak. This decline in San Francisco's taxable cannabis sales comes as daily marijuana use among Americans has become more common than daily alcohol use, according to recent research.
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