The Canada Cannabis Spot Index (CCSI) was assessed at C$5.13 per gram this week, up 1.0% from last week’s C$5.13 per gram. This week’s price equates to US$1,836 per pound at the current exchange rate.
Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.
As we first reported in January, Alberta’s cannabis industry went through a major transformation this past week due to the scheduled implementation on March 8, 2022 of Bill-80, the Red Tape Reduction Implementation Act, 2021 (No. 2). The measure, which received royal assent on December 8, 2021, gives currently licensed private retailers in Alberta the ability to establish online stores to sell their products direct-to-consumer.
Up until now, legal cannabis was available online only through the Alberta Gaming, Liquor, and Cannabis (AGLC) e-commerce platform. AGLC will remain responsible for buying products from federally licensed producers and distributing them to licensed private retailers. The bill gives the provincial government three months to close its online store, while allowing licensed retailers to set up their e-commerce platforms. Retailers that have received an endorsement to their licenses from the AGLC for online sales can now initiate an online presence.
Alberta has consistently had a strong store count relative to other provinces, and this has resulted in strong per capita sales figures. Our latest count shows that Alberta had 752 stores open for business as of the end of February 2022. That figure was up by 167 stores, or a jump of 29%, compared to February 2021.
Licensed private retailers should be able to cut costs significantly with a shift to online sales. Once a customer is acquired through a storefront, moving the customer to the retailer’s online platform will allow the fulfillment of purchases from a centralized location, which should result in lower retail price points. This should be a net benefit to both retailers and customers.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
See previous weekly updates from Cannabis Benchmarks:
- 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
