The CCSI was assessed at C$5.05 per gram this week, down -0.4% from last week’s C$5.07 per gram. This week’s price equates to US$1,802 per pound at the current exchange rate.
Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.
This week, Cannabis Benchmarks reviews Canada’s recreational cannabis store count.
The number of stores continues to climb steadily across the country, making the legal cannabis system more accessible to consumers, and in some cases increasing competition among retailers in more saturated local markets.
Cannabis Benchmarks’ latest count shows the number of stores open for business reached 2,980 as of the end of January. That figure is up by 1,487 stores, or a jump of 99%, compared to January 2021.
As can be seen in the chart above, they expect that trend to continue throughout this year but at a slightly slower rate. The slowdown is already apparent in the January data. During the 2021 calendar year, there were an average of 124 stores added each month, but only 86 were added in January 2021.
One province that sticks out is Alberta. Cannabis Benchmarks had been anticipating a slowdown there for some time, but Alberta’s store count continues to grow at a steady rate. The current count is 740 stores, which is 184 more than last January. They are modeling no growth for the rest of the year, with changes being made to the online sales model. Up until now, legal cannabis was available online only through an e-commerce platform run by the Alberta Gaming, Liquor, and Cannabis (AGLC) agency. The passing of Bill 80 in December will allow licensed retailers to set up their e-commerce platforms starting on March 8, 2022. This change will make the cannabis landscape even more competitive.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
See previous weekly updates from Cannabis Benchmarks:
- A look at average daily cannabis sales in Canada
- 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
