Each week, Business of Cannabis delivers a series of insights from our partners at Cannabis Benchmarks®.
The Canada Cannabis Spot Index (CCSI) was assessed at C$5.91 per gram this week, down 0.7% from last week’s C$5.96 per gram. This week’s price equates to US$2,036 per pound at the current exchange rate.
This week, Cannabis Benchmarks provides an update of store counts nationwide, which have continued to grow at a steady clip this year.
As of the end of October, Cannabis Benchmarks counted 1,226 licensed retailers open in the country. The number of operating stores has grown consistently throughout this year, with an average monthly growth rate of 6.3%. In absolute terms 67 new stores were added in Canada in October, with nearly half – 32 – in Ontario. The increase in licensed retailers is contributing to a massive uptick in total sales.
The latest official data from August shows total Canadian sales at C$245M. Since then 142 new stores have opened. Even prior to August, the stores to sales relationship shifted, as shown in the accompanying chart, with sales per store increasing to a new level beginning in July. Given this new relationship, Cannabis Benchmarks projects over C$300M in total monthly sales for October.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
