The cannabis industry in Nova Scotia has witnessed a remarkable boom, with sales soaring to over $111 million. This surge is largely attributed to the burgeoning demand for locally produced cannabis products.
Local producers have become the cornerstone of the cannabis market, with their sales figures climbing by a staggering 41.8% from the previous year. This growth reflects a shift in consumer preference towards supporting homegrown businesses.
The Local Impact
The economic impact of this growth is significant. Nova Scotia’s cannabis producers are now vital to the province’s economy, contributing substantially to the local job market and community development.
The top-selling local cannabis products have been identified as Breakers Indica Milled, Current Growers Pick Sativa Milled, and Eastcann Animal Z. These products have not only topped sales charts but also helped establish Nova Scotia as a leader in quality cannabis production.
Sales Channels and Consumer Behavior
Interestingly, the majority of cannabis sales occurred through in-person transactions, with online sales constituting less than 1% of the total. This indicates a strong consumer preference for purchasing cannabis in physical stores.
The average transaction value for cannabis purchases has decreased slightly, which could indicate more competitive pricing or changes in purchasing patterns.
Expansion and Accessibility
The province has welcomed new cannabis stores, including the first provincially licensed First Nations cannabis store. This store is a testament to the inclusive growth of the cannabis market in Nova Scotia, offering services in both English and the Mi’kmaq language.
The expansion of cannabis stores enhances accessibility for consumers and reflects the government’s commitment to regulated growth in the industry.
Economic Contributions
The Nova Scotia Liquor Corporation (NSLC) reported that the profits from cannabis sales are entirely funneled back into the province to support public services. This model ensures that the financial benefits of the cannabis industry aid in the development of Nova Scotia’s infrastructure and welfare programs.