A Major Milestone
This weekend, the Ontario cannabis industry celebrates a significant milestone with 100 retail stores now open in Ontario. On behalf of the OCS, I would like to say a big thank you to our retail partners for making this happen.
I know that behind every store are strong teams who truly believe in this industry. We have been through a lot together. Since legalization, there have been many challenges thrown at the industry, from the initial supply constraints that resulted in a limited number of stores, to most recently, COVID-19.
Currently, we are capturing around 19% of the cannabis market, which means 81% of sales are still from illegal sources. This is a huge opportunity, and as stores continue to open throughout the province, making it easy for consumers to choose legal, our capture of the market will only improve.
In our first full fiscal year of operations, Ontarians purchased over 35 million grams of cannabis from retail stores and OCS.ca. There has been a steady growth in sales, a steady increase in product selection, and a steady decrease in prices. You can see our full data report here.
As licensed producers deliver more 2.0 products, as efficiencies increase and prices continue to drop, and as the province emerges from lockdown, the industry will only get stronger, bringing even more opportunities for retailers.
Together with our retail partners, our goal of having a successful store in every corner of Ontario and winning the fight against the illegal market is completely within reach.
Thank you for everything you do to drive our sector forward.
Chief Commercial Officer, Ontario Cannabis Retail Corporation