We Now Know How Much Money People In Canada Spent On Marijuana After Legalization
Marijuana is officially a million dollar industry in Canada.
Statistics Canada has put out data from October's monthly retail trade survey and for the first time, cannabis stores are on this list. The list details the monthly sales in a dollar amount, for each industry.
And Canadians spent nearly $43 million on cannabis — in two weeks alone.
TL;DR The numbers are in and Canadians spent $43 million in the first two weeks of legalization.
Remember that cannabis wasn't leagalized until the 17th of October. This means that, while the survery considers the whole month for other industries, the cannabis total only makes up two weeks worth of "trade."
For an entire month, we might expect the total to be somewhere around $86 million. Though supply shortages might have dampered that number.
Also, can we think about how much weed that is?! If we say on average a gram is $10, that's 4.3 million grams of weed.
In two weeks!
And that is only considering what is currently legal for purchase. As of right now, the only legal cannabis products available in authorized retail stors are: dried and fresh cannabis, cannabis oils, seeds, or plants for cultivation, per Health Canada.
So we could see more increases in this industry when items like edibles, extracts, and topicals become available. Health Canada has opened a public consultation on the matter and you can actually weigh in on the proposed regulations.
However, as huge as those numbers seem, the reality is that these numbers are nothing compared to the $2 billion Canadians spent in beer, wine, and liquor stores.
These numbers also speak to the small portion of the population that is purchasing cannabis, or rather the small number of purchasers that are doing so legally.
Eventually I think cannabis use will become so casual & common place in Canadian society that Tim Hortons will start offering weed donuts, muffins & lattés lol.#cannabiscanada #weed #donuts #cafe #coffee #muffins #Canada— Tommy Boxeo (@tommyboxeo) December 16, 2018
Though, this does prove marijuana to be a booming industry that should only prove to benefit the Canadian economy. The numbers will likely only go up from here as more and more cannabis users become legal purchasers, as well.