Article by Liz Braun, Toronto Sun
Last fall, sales of legal cannabis in Canada finally caught up with black market transactions.
In 2020, $2.6 billion worth of legal marijuana was sold in this country, about 120% more than the total of $1.2 billion in 2019.
(And so has COVID. As with alcohol, cannabis consumption has been up during the pandemic as people look for stress relief.)
Overall, legal cannabis has been a big success, especially in Ontario.
“But there have been growing pains,” said Lamers. No pun intended.
Some bigger cannabis companies have had problems, and mostly because of their own management mistakes. They’re constantly in the news for losing money, leading people to think the industry is struggling.
However, those results reflect poor corporate decisions and have nothing to do with the market for cannabis.
“If they were car producers, it would be as if they decided to only make one type of car rather than a fleet to draw a broad range of consumer,” said Lamers.
“Instead of 15 choices, they only made the Toyota Corolla — there was a shortage of the type of cannabis people wanted. They had lots of low-quality product, and not enough medium or high quality, and what they had was too expensive.”
Now there are better products at better prices, and with things like edibles and vapes, more readily available.
“Sales are rising steadily every month.”