Ontario Cannabis Store Sales
We stumbled upon this robust dataset which tracks real-time sales for the only online dispensary in Ontario. Ontario makes up almost 40% of Canada's population, so this data is a great proxy for Canada's online retail sales for cannabis. Aphria holds the top market shares with 14.3%, CGC with 13.5%, and Auxly with 7%. Village Farm's Pink Kush remains the strongest brand with $16,795 in sales. As further months of data are released, we will be closely tracking each company's market share.
PA Crushing Sales, Release of PA Tracker
We have obtained Pennsylvania sales data for medical use. By the number, though, one may think these are recreational numbers! MoM sales have been consistently increasing since data started being tracked in March 2020. Sales for March 2021 increased 109% from last March, a drastic increase. The MSO's most benefitted by these large sales increases are Jushi, Green Thumb Industries, AYR Wellness, Terrascend, and Curaleaf. Pennsylvania is on pace to have 2021 sales of $1.07 Billion and will likely far surpass this number, making it one of the largest medical-only markets in the US. PA has one of the largest basket sizes of $123 compared to Oregon with $79 and Michigan with a basket size of $62. This contributes to PA's strong sales.
Does Branding Pay Off?
As the US marijuana market matures in CA, WA, and CO, companies create brands to set their product apart. As shown in the chart below, brands are very prevalent in CO and WA as they are more mature states within the industry. Branding is the most important in beverages. The number one cannabis beverage in California is Cann, which has a JV with Green Thumb Industries to sell the product in IL. Cann now owns 23.4% of the cannabis beverage market in CA, a sizable number. Brands give consumers a product they can remember and then repurchase in a future transaction. Brands are most prevalent on the west coast as the market is far more saturated, and companies need to gain customer loyalty. It is a great tool company will continue to use there. As the east coast matures, we will see the popularity of certain brands increase.
