Yo, check it out! The government’s annual Canadian Cannabis Survey is droppin’ some mad knowledge on the cannabis scene in Canada. And let me tell ya, things are gettin’ wild up in here!
So, according to this survey, it seems like the legal cannabis business in Canada is gettin’ a lot of love from the people. They say that a whopping 69% of Canadian cannabis consumers “always” buy their weed from legal sources. But hold up, before we start poppin’ bottles of champagne, let’s take a closer look at these numbers.
See, the thing is, these stats might not be all they’re cracked up to be. MJ BIZ, the cannabis news site, covered this report and they pointed out that there might be some funky business goin’ on with how this information is bein’ interpreted.
You see, for legal cannabis businesses, it’s important to know how much of the market they’re capturin’. That’s what they call their total addressable market (TAM). It basically tells them how much money they could potentially be rakin’ in. And usually, when calculatin’ TAM, they include both legal and illegal sales.
But here’s where things get sketchy. The survey asked Canadians who had consumed cannabis in the past year where they got their weed from. And a majority of them said they “always” buy from legal sources. Sounds great, right? Not so fast.
MJ BIZ likes to look at where consumers regularly buy legal cannabis. But Statistics Canada prefers to look at where people buy “some” of the weed they consumed last year. And guess what? Those two numbers don’t match up!
In fact, when Stats Canada asked people if they got “at least some” of their weed from legal sources in 2020, over 68% said yes. That’s a lot higher than the number of people who said they “always” buy legally. So, somethin’ ain’t addin’ up here.
But hey, let’s not get too caught up in the numbers. The survey did reveal some interestin’ trends in the cannabis market. For one, it looks like Canadians are spendin’ less on weed these days. The average monthly expenditure on both legal and illegal products has gone down to about $47. That’s a drop from the previous year.
And get this, people are spendin’ less on illegal weed too. In 2023, respondents reported spendin’ around $8 a month on illegal cannabis. That’s a huge decrease from the $47 they were droppin’ back in 2020. Looks like people are startin’ to see the appeal of goin’ legit.
Oh, and there’s one more thing. The survey asked about gettin’ weed from First Nations storefronts. Turns out, 2% of consumers said they buy their cannabis from these places. That’s pretty cool, considerin’ there’s been some exclusion of First Nations entrepreneurs in the cannabis industry.
So what does all this mean? Well, it looks like Canadians are slowly but surely comin’ around to the idea of buyin’ legal weed. They’re startin’ to trust regulated products more and see the benefits of goin’ legit. And that’s a good thing for the industry.
But hey, let’s not get too carried away. These numbers might not be as accurate as they seem. So, take ’em with a grain of salt. But one thing’s for sure, Canada’s cannabis game is changin’, and businesses better be ready to adapt if they wanna survive.
So next time you’re lookin’ to cop some bud, think about goin’ legal. It might cost ya a bit more, but at least you know what you’re gettin’. And who knows, maybe one day we’ll all be puffin’ on legal joints, blazin’ it up without a worry in the world.
But until then, keep doin’ your thing, Canada. Keep smokin’, keep growin’, and keep pushin’ for that green revolution.
Peace out, my fellow tokers! Stay lifted, stay chill, and stay true to yourself. And remember, it’s all about that legal weed life!
