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Cannabis Sales Increase Through June

For the fourth consecutive month, cannabis retail sales in Canada continued to climb. According to data released by Statistics Canada, sales for the month of June reached $377.5 million, representing an increase of 1.05% from the $373.3 million recorded in May. It’s an increase that helps maintain the momentum that the industry has been riding of late, contributing further to its progression, and signifying an impressive 23% increase over sales reported for June 2021.

Ontario: Driver of National Growth

Yet again, the province posting the most impressive retail cannabis sales is Ontario, reporting $152.2 million for the month, an increase of 3.3% over May’s reported $147.4 million and an incredible hike of 41.2% year-over-year. The sales within the province are no doubt driving much of the growth nationally, playing off of the advantages of a greater population and number of major urban markets to draw from.

It’s the eighth monthly increase in sales posted by the province over the course of the past 12 months. And, given the fact that there remain several markets in Ontario that have yet to reach saturation, it’s likely that increases will continue, at least for the foreseeable future.

Modest Maritime Increases

The majority of east coast provinces also enjoyed relatively successful periods, maintaining the region’s positive sales trajectory. The biggest gains were made in New Brunswick, which posted $6.7 million, an increase of 5.4% over last month. Prince Edward Island reported an increase of 3.7% with $1.8 million, up from $1.7 million in May. And, Newfoundland and Labrador also recorded positive numbers, increasing by 0.47%, posting $5.13 million, up from $5.11 million in May. Nova Scotia was the only Maritime province not to record an increase in sales, down to $8.69 million from $8.7 million in May, a subtle decrease of 0.08%.

Alberta Sales Remain Flat

Snapping the province’s run of four consecutive months of positive gains in retail cannabis sales, Alberta posted numbers that were completely flat against those recorded in May, maintaining the $67.1 million posted the previous month. That decrease in undoubtedly partially due to the number of stores that have been closing in that province.

Looking ahead, it will be interesting to note the recent change in regulation that permits cannabis retailers operating in Alberta, as of September 1, to begin merchandising and selling retailer-branded cannabis products and accessories, and how that regulatory amendment might allow for the creation of additional revenue streams and influence an uptick in the province’s retail cannabis sales through the final half of the year.

British Columbia’s Sales Decline

Despite seven new stores opening in British Columbia in June, that province saw a decline of 1.68% to $54.1 million, although May’s figures revealed one of the highest provincial growth rates in Canada.

Other Provincial Retail Sales

Saskatchewan: $15.6 million (1.5%)

Manitoba: $14.4 million (-0.21%)

Quebec: $49.8 million (-1.4%)

Yukon: $878,000 (2.2%)

No sales figures were made available for the Northwest Territories or Nunavut.

Major Urban Market Mixed-Bag

Retail cannabis sales performance across major Canadian urban centres for the month of June proved to be a bit of a hodgepodge of increases and decreases.

The two cities with reported sales in Ontario, the nation’s leader with respect to retail cannabis sales—Toronto and Ottawa—each posted positive gains over the previous month’s sales. Toronto reported $51.6 million, representing an increase of 2.61% over May’s numbers. And, Ottawa recorded sales of $16.5 million and a whopping 5.98% month-over-month increase.

Urban markets in the province of Quebec didn’t fair so well, likely impacted by disruptions caused by rotating cannabis worker strikes. Montreal posted $27 million in sales, a decrease of 0.92%. Quebec City and Gatineau also posted decreases for the month of June, recording sales of $4.6 million (-8.63%) and $1.6 million (-10.9%) respectively.

Other Major Canadian Urban Market Sales

Vancouver: $18.3 million (-1.99%)

Calgary: $18.3 million (0%)

Edmonton: $21.9 million (0%)

Winnipeg: $9.1 million (2.59%)

Ending the Year

Just like most other retail categories, the final quarter of any year is an incredibly important one when goals and ambitions are either realized, or they aren’t, and projections for the forthcoming 12-month period are made. And, as the Canadian cannabis industry continues to mature, which involves pockets of saturation and mergers and acquisitions occurring across the country, opportunities continue to present themselves—opportunities that the savviest of cannabis retailers are managing to seize.

Tags: Canadian Cannabis (107), Cannabis Industry (180), cannabis market (8), Cannabis Retail (387), Cannabis Sales (64)