LAST UPDATED APRIL 20, 2021
Colorado has one of the most mature and established legal cannabis markets in the world. With the passing of Colorado Amendment 64 in 2014, Colorado became only the second state to ever establish an adult-use marijuana market — and in 2021, a handful of new laws and relaxations are set to expand the industry even more.
As of January 2021, the state is issuing licenses for marijuana hospitality establishments, which include dispensary tasting rooms, cannabis cafes, and designated consumption areas in hotels. The state had also legalized marijuana delivery in 2019 with the passage of House Bill 1234, allowing for medical deliveries in 2020 and recreational deliveries in 2021. Permits for medical marijuana delivery services have been available since 2020, and Colorado’s government cannabis board has now started accepting applications from recreational stores, third-party delivery services, and licensees for recreational delivery.
In 2020, cannabis sales in Colorado eclipsed a record $2 billion — a whopping 25% increase from 2019. Much of this growth has been attributed to people staying indoors during the pandemic and cannabis being deemed essential, thus allowing new customers to experiment with recreational cannabis without any traditionally associated stigmas. Still, with more than 1,000 licensed retailers across the state and the number growing further, the competition in Colorado’s cannabis market is tough. In order to compete, retailers need to operate efficiently to reduce costs and differentiate their store from the rest of the pack. In addition to utilizing the right technology, dispensary owners need to provide a top-notch customer experience, sophisticated marketing, and excellence in operations.
Cova is proud to provide state-of-the-art compliance solutions for cannabis businesses in Colorado so you can focus on growing your business. Our Colorado dispensary POS system is fully integrated with Metrc, the state’s seed-to-sale tracking system, and includes ID scanners, hardware integration with barcode scanners, purchase limit alerting, compliance labeling and tax recording.
While cannabis dispensary laws in Colorado are relatively well-established, changes still occur. We’ll keep this page updated with any new developments as they arise. This page is informational only and should not be considered legal advice.