The CCSI was assessed at C$5.07 per gram this week, flat from last week’s C$5.05 per gram. This week’s price equates to US$1,812 per pound at the current exchange rate.
Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.
Statistics Canada recently released retail sales data for November 2021, showing nationwide legal cannabis sales began to plateau in the second half of 2021. Sales in November fell to C$353.6M. To correct for the different number of days in each month, Cannabis Benchmarks look at average daily sales. As seen in the chart above, November 2021 sales reached C$11.79M per day.
From August 2021 to November 2021, sales were essentially flat on a daily basis, which is somewhat concerning for the cannabis industry.
Previously, expanding store counts and lower retail price points resulted in more consumers moving from the illicit to the legal sales channels, but this trend seems to have been broken in much of the country in recent months.
As Canada’s cannabis market matures, we may also be seeing the development of seasonality in demand, rather than the steady growth that has characterized the market’s first three years.
If state-legal markets in the U.S. are any indication, the period from September through November is typically marked by slower sales, especially relative to spring and summer months, providing the possibility that more widespread growth may resume later this year.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
See previous weekly updates from Cannabis Benchmarks:
- Future growth of cannabis retail in Alberta
- Retail store counts in Canada right now
- The mix of cannabis products in Ontario right now
- How to understand legal and illicit cannabis sales
- Comparing legal and illicit cannabis purchases right now
- A look at cannabis retail store counts in Canada
- A look at daily cannabis retail sales in Canada
- Legacy and legal cannabis sales three years after legalization?
- How to understand cannabis’ impact on alcohol sales in Canada
- Understanding cannabis retail store growth in Canada
- A look at average monthly spend per cannabis consumer
- A look at processing licenses issued by Health Canada
- A look at cultivation licenses issued by Health Canada
- Understanding medical versus recreational sales right now
- A look at daily cannabis sales by Province
- How to view dry cannabis sales across Canada
- A look at percentage of legal versus illicit cannabis sales
- A look at the pace of growth for cannabis retail
- A look at monthly cannabis sales in Ontario
- What is the optimal number of cannabis stores in Canada?
- How to compare daily cannabis retail sales by Province
- Understanding the impact of cannabis on alcohol sales in Canada
- A look at cannabis retail store count by Province
- A look at cannabis user statistics in Canada
