BC Legal Cannabis Market Explodes
Province Sees Seven-Fold Increase in Legal Cannabis Sales in One Year – LPC
Finally, there are some solid numbers suggesting that BC’s legal cannabis market is overtaking the illegal market. Statistics Canada announced that the province sold $29.4 million in cannabis products in June 2020. That’s almost seven times the $4.2 million it sold in June 2019. The latest numbers means that BC is has the fourth-highest legal cannabis sales in Canada. That’s a far cry from having the lowest cannabis sales after legalization.
It is also the second straight month that BC has broken sales records.
According to this report (see link below), the main drivers for this change are:
- more legal cannabis stores
- fewer black market stores
- newly legal cannabis product categories, such as edibles
- improved product quality
These numbers also contradict a Vancouver Sun report in June that suggested there was still a thriving cannabis black market. Earlier this year, reports suggested that illegal online cannabis sales were a problem still. Since then, the province has allowed online cannabis purchases from its government stores, though not delivery.
BC has done a lot to provide consumers there a safe, legal, quality product. It seems like allowing cannabis delivery may be one of the last major hurdles. The Ontario experience during COVID showed that allowing cannabis delivery helped reduce the illegal black market. Governments should be exploring any policies and programs that can increase the legal cannabis market in Canada.
This editorial content from the LPC News Team provides analysis, insight, and perspective on current news articles. To read the source article this commentary is based upon, please click on the link below. Are you part of the legal cannabis industry in Canada? Add Your Listing and get found by your potential customers.
