December 2019 sales were recently released by Statistics Canada, completing data for the 2019 calendar year. For 2019 as a whole, Canada’s legal cannabis market generated C$1.19 billion in revenue. December sales totaled about C$146 million, up 8% MoM. The expansion of retail outlets continued to drive increased sales, with the number of shops across Canada rising from under 600 in November 2019 to over 650 in December 2019.
Looking ahead, the introduction of Cannabis 2.0 products – extracts, edibles, and topicals – will add another variable to consider in projecting sales growth in the country’s developing legal market.
CannabisBenchmarksexpects that the availability of Cannabis 2.0 products will boost sales by 25%, compared to if 2019’s status quo had continued. We anticipate that January 2020 sales will rise by over 6% MoM, to C$155 million, with February 2020 sales projected at C$161 million.