Canada’s legal marijuana industry is celebrating a jump in sales, more brick-and-mortar stores and competitive pricing as it celebrates two years in business.
Since Canada legalized recreational marijuana on Oct. 17, 2018, legal sellers and producers have struggled to compete with the black market, but there have been recent gains in the licensed industry.
The change? The coronavirus pandemic, says retail marketing expert David Soberman.
“It’s been a boon for the legal industry,” said Soberman, a professor of marketing at the University of Toronto.
In July, licensed marijuana stores sold more than $231 million in product — a 15-per cent increase from June’s sales — marking the biggest monthly jump since the country legalized cannabis.
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