Despite the COVID-19 pandemic, new licensed cannabis retailers have continued to open across Canada.
As of this month, Cannabis Benchmarks counts almost 900 legal stores in the country, an increase of over 120 from the end of February. Over half the stores nationwide are located in Alberta. Meanwhile, Ontario, has fewer than 75 stores open.
Based on the number of stores per cannabis consumer in Alberta, Cannabis Benchmarks estimate that Ontario’s market could support over 1,500 licensed retailers, leaving significant room for sales growth and expansion. 1,500 retailers in Ontario would also equate to a per capita store count of one per roughly 9,700 total residents, comparable to Colorado’s legal cannabis market, the most mature in the U.S.