The pandemic saw a boom in legal recreational cannabis sales across Canada. From March 2020 to February 2021, sales totaled $2.5 billion, double the $1.25 billion of the previous 12 months. Surveys likewise reported more cannabis users and more frequent usage in 2020 than the year before.
The increases were often blamed, despite a lack of evidence, on the COVID-19 pandemic and related societal disruptions. Many people were stuck alone at home and feeling stressed. Some commentators later walked back their claims after it became clear there was no data to support them, but the narrative still persists.
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.
A rapidly expanding industry
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.
Nationwide monthly sales began at $42 million in October 2018 and still totalled only $59 million in March 2019. But by February 2021 they exceeded $262 million. National sales now exceed $347 million monthly, thanks partly to having at least 3,100 licensed stores.
Created by…
Original Author Link click here to read complete story..
The pandemic saw a boom in legal recreational cannabis sales across Canada. From March 2020 to February 2021, sales totaled $2.5 billion, double the $1.25 billion of the previous 12 months. Surveys likewise reported more cannabis users and more frequent usage in 2020 than the year before.
The increases were often blamed, despite a lack of evidence, on the COVID-19 pandemic and related societal disruptions. Many people were stuck alone at home and feeling stressed. Some commentators later walked back their claims after it became clear there was no data to support them, but the narrative still persists.
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.
A rapidly expanding industry
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.
Nationwide monthly sales began at $42 million in October 2018 and still totalled only $59 million in March 2019. But by February 2021 they exceeded $262 million. National sales now exceed $347 million monthly, thanks partly to having at least 3,100 licensed stores.
Created by…