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.
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 Index, Cannabis Benchmarks
See previous weekly updates from Cannabis Benchmarks:
- Cannabis store count in Alberta right now
- A look at monthly cannabis sales in Canada
- How to compare annual cumulative cannabis sales in Canada
- Canadian cannabis consumer and patient trends right now
- Daily cannabis spend per consumer in BC now
- Canadian retail store counts right now
- 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
