Denver’s Marijuana Industry Faces First-Ever Recession Since Legalization
Denver’s marijuana industry is experiencing a recession for the first time since recreational marijuana was legalized 11 years ago. According to data from the City and County of Denver, both medical and retail marijuana sales have declined since the COVID-19 pandemic in 2020. Despite bringing in $180 million in revenue through the first seven months of 2024, the industry is facing challenges.
Eric Escudero, spokesperson for the Denver Department of Excise and Licenses, notes that the decline in sales has led to some businesses consolidating or closing their doors. He attributes this to the spread of legalization across the United States, which has reduced the number of people traveling to Denver to consume and purchase marijuana.
In response to the challenges, Pure Elevations Cannabis Spa and Salon is adapting by offering a unique business model. As the city’s first-ever business to sell and consume cannabis on-site, it is also the first marijuana consumption spa in the state’s history. The spa allows customers to incorporate cannabis into their massage, nail, and hair treatments, and also sells cannabis products that can be consumed in its outdoor lounge.
Owner Rebecca Marroquin, who understands the challenges facing the industry, believes her business’s unique approach will bring success. By creating multiple revenue streams and offering services that go beyond simply selling cannabis, she hopes to attract customers who are looking for alternative ways to manage their health.
Pure Elevations is currently hiring for various positions and invites interested individuals to reach out to learn more. As the industry continues to evolve, businesses like Pure Elevations are finding innovative ways to adapt and thrive.
