The Canadian Imperial Bank of Commerce (CIBC) is forecasting that cannabis sales will eclipse liquor sales by 2020.
The CIBC estimates that in two years, Canadians will consume 800,000 kilograms of cannabis, mostly for recreational use.
According to the analysis, Cannabis: Almost Showtime, ” by 2020, the legal market for adult-use cannabis will approach $6.5 billion in retail sales. For context, this is greater than the amount of spirits sold in this country, and approaches wine in scale.”
Story: Digital Journal