According to a recent survey, cannabis users have indicated they will buy nearly two-thirds of their pot from legal retailers once recreational marijuana becomes legal in Canada.
Respondents also said they’d buy cannabis more often and are prepared to pay more for the legal product, generating up to $4.34 billion in total sales next year.
The findings were drawn from an online survey of 1,500 Canadians, conducted by Asking Canadians from March 6-20.
What’s in the forecast is that in time the cannabis industry will create new jobs and business opportunities which in turn would create new revenue streams for the government.
The Liberals intend to have retail sales of cannabis up and running by late summer, assuming the legalization bill is passed by the Senate in a vote scheduled for June 7.
Overall, the survey suggests 63 per cent of respondents expect to move from illegal suppliers to legal retailers. That includes 47 per cent of frequent users and 69 per cent of periodic users.
Among the things that would persuade current users to switch to legal retailers, 55 per cent of respondents cited better quality products, 54 per cent cited a range of prices, 47 per cent cited products with a range of potency and 41 per cent cited products certified to be safe.
Currently the price for illegal cannabis is $8.24 per gram and respondents said they’re willing to pay a bit more — an average of $8.98 per gram for legal weed.
Current consumers said the price would have to rise to almost $14 per gram before they’d stop buying while respondents who said they’re likely to become consumers once cannabis is legalized said they’d stop buying at about $11 per gram.
41 per cent of cannabis consumers said they’ll use it less than once a month. Just 20 per cent said they’ll use it daily.
But no one can really tell if young people who find alcohol expensive would switch to cannabis, which is a cheaper alternative, and no one has indicated the cost to the health care system once treating people for ailments brought about by abusing cannabis in the long term. However, it might be seen as an economic benefit if it turns out that more doctors and nurses will be required to fill jobs in the health care sector. – CINEWS