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Below is the part of a weekly series of benchmarks provided by the team at Cannabis Benchmarks®.
This week's Canada Cannabis Spot Indexcontinues to examine data released recently by the Ontario Cannabis Store (OCS), with a focus on online sales.
Online purchasing through the OCS exploded in March as the COVID-19 pandemic arrived in North America, with the number of transactions rising by over 80% from February. Cannabis Benchmarks contends that the shift to purchasing from legal channels, whether online or in-store, will persist after the coronavirus situation is resolved.
Assisting this conversion are falling prices in the legal market, with prices for flower on the OCS only slightly higher than those in the illegal market in the period from April 2019 to March 2020. The data validates a strategy undertaken by Canada's LPs to release lower-priced product offerings in order to be more competitive with unlicensed sellers.