The CCSI was assessed at C$5.00 per gram this week, down 1.5% from last week’s C$5.07 per gram. This week’s price equates to US$1,817 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 examines whether legal cannabis sales in Canada have impacted alcohol sales.
With the legalization of recreational cannabis in October 2018, alcohol companies feared they would see a reduction in sales, as consumers of legal age might opt to substitute cannabis for alcohol. However, data shows that alcohol sales have been growing steadily despite the introduction of legal recreational cannabis sales. Since August 2020, monthly alcohol sales have grown by C$132M to C$2.27B. Meanwhile, monthly legal cannabis sales have grown by C$109M to reach C$357M.
So far it appears that legal cannabis sales have not eaten into alcohol sales, but Cannabis Benchmarks does believe that, at some point, they will.
Cannabis sales are already starting to represent a larger portion of the total dollars spent towards alcohol and cannabis. Currently, cannabis’ share stands at 13.6% of the total spend of the combined categories, up from 10.4% in August 2020, and we expect that growth to continue.
Source: Canada Cannabis Spot Index, Cannabis Benchmarks
See previous weekly updates from Cannabis Benchmarks:
- 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
