How Canadian millennials are spending their money on weed across the country
Since legalization on October 17, 2018, Canadians have had more options than ever when it comes to buying cannabis. Gone are the days of picking up dime bags off of college kids — we’re living in a new age!
So, how are Canadian millennials spending their money on Cannabis across the country?
Well, the number crunchers at the Canadian fintech company KOHO looked at millennial spending on cannabis across the country to find out exactly that. To bring you data insights you can actually use*, they analyzed over a million transactions made by tens of thousands of Canadians, and here’s what they found:
It seems that our friends in Saskatchewan are spending on average $77.64 every time they shop, compared to $26.53 in PEI – that’s a $40 difference (or the price of a Google Home).
When it comes to choice, we’re looking at two options: government or private. What’s the difference you ask?
We found that the average spend at government-run retailers was $20.56 more than at private stores.
Of course, cannabis isn’t a one hit wonder. So, who’s been going back for more? Looks like our friends in BC are the biggest fans, at 38% of customers going back for seconds, with Ontario being on the lower end with only 30%.
Just three months since legalization and with more excitement on the way, we’re curious to see what 2019 has in store.
* Data is drawn from tens of thousands of transactions made using KOHO in 2018. KOHO’s user base is 53% men and 47% women, the majority of whom are between the ages of 25-35. The information shared is for the purpose of helping Canadians make spending decisions that are informed by data-driven insights.