2020 in Review: The cannabis industry was impacted by the pandemic, but able to adapt and grow. Headset's data compare sales data from Canada and the US visualizing the impacts between cannabis retailers in the two countries. Despite the global pandemic, the data has demonstrated that both the US and Canadian cannabis industries are continuing to see growth, although the trends are slightly different in the two countries.

Cannabis sales have grown year-over-year across legal markets in the US during the 2020 pandemic, although there were some variations from state to state. By comparison, Canadian cannabis sales from February to March grew slightly by 14.8%, but had a decline of 15.2% from March to April. This decline seems to have been driven largely by the intermittent government-imposed shutdowns in Ontario that impacted cannabis retailers.

The pandemic also had an impact on how much money was being spent in customer transactions, or basket size. In both the US and Canada, basket sizes started to increase in March. This is an indication that customers have been making fewer trips to cannabis stores due to self-isolation and social distancing during the pandemic, but they have also been making larger purchases when they do go to the store.

Show Notes:
The impact of COVID-19 on cannabis retailers
https://www.headset.io/posts/the-impact-of-covid-19-on-cannabis-retailers

Host:
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
https://www.linkedin.com/in/joshkincaid/

Episode 597 of The Talking Hedge:
Your Cannabis Business Podcast.
​Covering cannabis products, reviews, business news, interviews, investments, events, and more.
https://www.theTalkingHedgepodcast.com

Music Info:
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018Artist: LuxrayBeats

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Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers.