Mark Stermer, CEO
And now it’s been two years… Canada’s legal cannabis market has hit a slowdown and obstacles – but key changes on the horizon are sure to spur growth.
Topic
- Recreational, Retail, Statistics
Summary of piece
Data from StatsCan reveals that the legal cannabis market is at 46 per cent of the total cannabis market in Canada (sales figures). Two years since legalization the illegal market still owns most sales – though by a slim margin. Some factors that contribute to this sales pattern include too few locations, price differences between legal and illegal cannabis and a relatively weak performance from industry in terms of product innovation.
Excerpts
“The accessibility of brick-and-mortar storefronts is critical for converting consumers from illegal consumption,” Cormark Securities analyst Jesse Pytlak.
Re:Mark
It is important to keep in mind the original goals of legalizing cannabis in Canada; (1) reducing criminal involvement in the sale of cannabis; and (2) reducing its availability to youth. Of course, in legalizing cannabis there was a realization that to achieve these objectives would take time and patience. The article validates that we are on the right track. As legal distribution increases it will have a positive effect on the achievement of the goals set out in legalizing cannabis. As an industry we also need to retain a focus on producing and marketing quality, value-based products that fulfill consumer need and demand. This is at the very core of Navaya’s mission, values, and principles. At Navaya, we are now in the early production phase and we are hopeful you will be able to purchase Navaya products at the SQDC. If you have a few minutes to spare, and speak French, do check out my first interview on CBC Television (French) – to learn a little more on our story. Link here.