Statistics Canada, the organization behind Canada’s census and hundreds of other crowdsourced data collection programs, is predicting that the country’s legal cannabis sales could reach as high as $1.02 billion from the commencement of the retail market on October 17 through the end of the year. StatCan derived its Q4 estimates from census population data and statistics from the National Cannabis Survey. And beyond the remarkable sales projection, StatCan is also estimating a dramatic shift away from the illicit market as consumers mass-transition to legal purchases.
Canadians Could Spend Over $1 Billion on Legal Weed In 10 Weeks
Statistics Canada’s $1 billion dollar sales projection isn’t a yearly figure. Instead, it’s what the organization estimates Canadian cannabis consumers will spend on weed in just the final 10 weeks of the year. And that’s not even what StatCan expects Canadians to spend on cannabis total. The $1 billion figure represents just legal sales. Add on an extra $250 million to $315 million in illegal cannabis purchases. Then you’ve got the complete picture of StatCan’s pot purchasing predictions.
The ever-increasing demand for legal cannabis currently hovers around 5.5 million consumers in Canada. StatCan predicts 1.7 million people will continue to obtain their cannabis on the