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Cannabis sales and store insights from BC

The Canada Cannabis Spot Index (CCSI) was assessed at C$5.17 per gram this week, down 0.4% from last week’s C$5.19 per gram. This week’s price equates to US$1,845 per pound at the current exchange rate.

cannabis industry insights from cannabis benchmarks

Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.

This week, Cannabis Benchmarks focuses on British Columbia, where the government opened online sales for private retailers back in August 2020. The one caveat: customers were required to pick up their purchases in-person. 

That changed on July 15 last year, when licensed cannabis retailers in BC were authorized to deliver recreational cannabis products directly to consumers. The BC government saw this as an avenue to support BC’s legal cannabis industry and continue to push out the illegal market. With this initiative and the continued growth in new retail stores, we are seeing BC’s legal cannabis sales grow.

At the end of 2021, there were 403 cannabis retailers in BC, which was 100 more than at the end of 2020. 2021 sales topped C$551M, with consecutive monthly growth. The primary factor for the growth in sales was the increased accessibility of the legal market, with nine new stores opening per month, on average. This strong relationship between store counts and monthly legal cannabis sales can be seen clearly in the chart below.

For 2022, Cannabis Benchmarks expects an average of eight new stores to open each month. They expect total 2022 sales to grow by 18% or C$98M, to C$649M.

Source: Canada Cannabis Spot IndexCannabis Benchmarks

See previous weekly updates from Cannabis Benchmarks:

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