Recap: Market Insights from CIBC Cannabis Data Experts Call

On April 16, 2020, #BackedByRIV companies LeafLink* and Headset  partnered with CIBC to present wholesale and retail cannabis market trends. The presentation focused on how cannabis sales have been impacted in the COVID-19 era, how declarations of cannabis as an essential service are impacting orders, changing consumer preferences, and what we can expect for 4/20. 

While both presentations and an audio recording are available for download below, here are three of the top insights from the call:

• Consumer preferences are shifting. In legal U.S. markets for the last two weeks of March, average daily sales of edibles were up 28%, and beverages were up 14%. Pre-rolls and topicals, however, saw their average daily sales decrease by 13% (Headset). LeafLink reported that gummies in particular saw a 1.5% increase in wholesale market share as retailers stock up.
• LeafLink is seeing two major stock-ups so far this year. In the week of 3/16, there was a major wholesale stock-up as social distancing measures were rolled out in U.S. markets. Wholesale sales then returned to normal volume for about two weeks before a 17% week-over-week increase the week of April 6, indicating another stock-up ahead of 4/20.
• Headset believes that March and April 2020 sales data should forever have an asterisk beside it when analyzing cannabis sales. Both U.S. and Canadian markets have seen dramatic spikes as consumers stockpile cannabis, breaking from the predictable cadence of weekly sales trends that can be seen in January and February 2020.

Presenters

• Claire Moloney, Director of Operations, LeafLink
• Liz Connors, Director of Analytics, Headset
• John Zamparo, Consumer Analyst, CIBC

Download presentation

Download audio recording

*Canopy Rivers has invested in LeafLink Services International ULC, a subsidiary of LeafLink, Inc.
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