Below is the part of a weekly series of benchmarks provided by the team at Cannabis Benchmarks®.
This week’s Canada Cannabis Spot Index report provides an update on the growth in the number of licensed retailers in Canada in recent months.
As of July, Cannabis Benchmarks counts over 1,000 legal stores open in the country, up by a factor of nearly three from a year ago. Store counts have grown at an average rate of 6% per month in 2020, even with the disruption and delays caused by COVID-19. More stores has led to more sales.
Official data from Statistics Canada, updated through May, shows a record C$189.5M in sales that month. Cannabis Benchmarks has also updated our 2020 sales projections for Canada’s legal recreational market.
We project that monthly sales will top C$200M in August and reach almost C$220M by December, with 2020’s total climbing to almost C$2.3B, nearly double last year.