The pandemic had little impact on Canada’s legal cannabis sales - via TheGrowthOp cannabisindustry CannabisCommunity cannabisculture Cannabis
Although it’s a compelling anecdote, our new research found that the growth in cannabis sales was more likely from industry expansion, rather than the pandemic.The number of licensed stores grew rapidly after Canada legalized recreational cannabis in October 2018. There were barely more than 100 stores open that first month, but by March 2019, that number had doubled, and by February 2021 the total had reached 1,500.
Surprisingly, we found no sign of a sustained sales jump after the pandemic hit in March 2020. Many stores were frantically busy for a few days as people stocked up before lockdowns began, but those brief surges apparently were counterbalanced by quieter days afterwards. Instead, we detected a small sales drop in January 2020 that presumably came from consumers trimming their post-holiday spending.
The lack of sustained pandemic effects on sales also matters to cannabis businesses. The pandemic surely increased producers’ operating complexity and costs, but we can’t blame it for lacklustre revenues.
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