Brightfield Group takes a look at the growing Canadian market with their latest report
Last year brought triple-digit growth to Canada’s legal cannabis market. According to the Brightfield Group’s latest “Canadian Cannabis Market” report, this was largely driven by:
- Increased brick-and-mortar retail access – especially in Ontario, British Columbia and Quebec;
- An expansion in e-commerce and click-and-collect offerings;
- Pricing that was more competitive with the illicit market;
- Retailers adapting to a pandemic context, helping prompt vast growth despite an unprecedented backdrop of lockdowns and store closures.
The Rise Of Value Brands
As the product selection continued to diversify and prices became more competitive in the Canadian cannabis market, an array of value brands emerged.
With lower prices, we saw increased customer conversion from illicit to legal markets.
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