Below is the part of a weekly series of benchmarks provided by the team at Cannabis Benchmarks®.
March 2020 cannabis sales were recently released by Statistics Canada; retail revenue totaled C$181M, up almost C$30M month-on-month and C$120M year-on-year.
Cannabis Benchmarks previously modeled what percentage of March sales were executed through online stores and physical storefronts. The latter overwhelmingly remains the primary sales channel, despite COVID-19 and accompanying lockdown measures increasing the percentage of online sales. This has also allowed us to calculate daily sales per physical retailer for March, which vary significantly by province.
With fewer storefronts open, average daily sales per store in Quebec and Ontario far outpace those in Alberta and British Columbia. The latter two provinces may be oversaturated with retailers, as their average daily sales per store are well below the national average.