Deloitte Releases 2018 Report on Cannabis: What Did They Find?

Article by Mike Okada, Cannabis Life Network

DELOITTE RELEASES 2018 REPORT ON CANNABIS: WHAT DID THEY FIND? MIKE O

The accounting firm Deloitte just released its 2018 report on the Canadian cannabis industry, and there are some very interesting bits of info in there for everyone, whether you’re a dedicated cannabis consumer, potential investor, or just curious about how the landmark Cannabis Act will impact Canadian society.

From its estimate that cannabis will be a $7+ billion industry, to who will be using cannabis, how much consumers are willing to pay, and the impact cannabis could have on the liquor industry, let’s have a look at what Deloitte learned from surveying recreational cannabis users across the country.

Cannabis will be $7 billion industry in 2019

Up to $7.17 billion, in fact, but that number combines all the different cannabis markets- recreational, medical, and illegal- and legal sales are estimated to be around $4.34 billion.

Cannabis users are also anticipating higher prices for legal cannabis, although they have indicated they’re only willing to spend up to 10% more, which aligns with the government’s proposed 10% excise tax (or $1 per gram, whichever is more).

DELOITTE RELEASES 2018 REPORT ON CANNABIS: WHAT DID THEY FIND? MIKE O.

Current cannabis consumers indicate that they will buy up to 2/3 of their cannabis from legal sources, and edibles may make up for that missing 1/3 since they will not be legal until 2019 at the earliest.

Deloitte expects 60% of likely cannabis consumers to try edibles at some point.

Read the full article here.

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