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December Sales Hit Record $426 Million

December’s retail cannabis sales hit a record $425.87 million, generating $4.52 billion in annual sales for 2022! That total is up from $3.92  billion in 2021.

Canadian revenue rose 13.78% in the last month of the year thanks to strong holiday shopping. All provinces and the Yukon saw strong gains after all but one province saw decreasing sales in November and mixed results in October.

Prairies

Manitoba had the highest surge in sales at 21.74% to $18.31 million, with Winnipeg rising 21%. Saskatchewan saw more modest gains at 9.99% to $16.97 million.

Alberta saw similar increases going up 11.08% province-wide to $73.78 million. Calgary’s growth in sales was eclipsed by Edmonton’s as the provincial capital reached $25.27 million. Alberta has seen the number of stores in the province decline since September as stores are shuttering due to oversaturation in key markets.

Ontario

The country’s largest province grew retail revenue by 15.06% to $171.17 million. The number of stores in Ontario continued to climb in December ending the year at 1,699 licensed cannabis retailers. Although new retailers are opening each month, we expect to see continued closures as stores struggle for profitability. Toronto and Ottawa both saw sales growing over 15%.

Quebec

Sales in this government-run province grew 12.65% to $54.59 million. Major cities in Quebec also saw big increases. The province continues to open stores at a much slower pace than provinces with privately-run cannabis retail. There were only 92 stores operating in December.

British Columbia

BC saw strong sales increases as well, growing 13.33% to $63.07 million. Vancouver’s revenue rose 11.26%. Expect to see more stores opening in BC this year, as they are still underserved with only 470 stores as of December 31st.

Maritimes

Newfoundland and Labrador was the only province that grew sales in November and continued that trend in December with a 13.83% rise to $6.4 million. Nova Scotia’s revenue increased 15.23% to $9.94 million while New Brunswick’s sales rose 14.3% to $7.64 million. Prince Edward Island had a 10% increase to $1.97 million.

Provincial Sales (x1,000)

Canada $425,871 (+13.78%)

Newfoundland & Labrador $6,403 (+13.83%)

Prince Edward Island $1,969 (+10%)

Nova Scotia $9,944 (+15.23%)

New Brunswick $7,639 (+14.3%)

Quebec $54,586 (+12.65%)

Montreal $29,678 (+11.41%)

Quebec City $5,019 (+12.53%)

Gatineau $1,480 (+11.19%)

Ontario $171,170 (+15.06%)

Toronto $54,787 (+15.06%)

Ottawa $17,115 (+15.05%)

Manitoba $18,309 (+21.74%)

Winnipeg $11,686 (+21.0%)

Saskatchewan $16.972 (+9.99%)

Alberta $73,775 (+11.08%)

Calgary $20,332 (+8.98%)

Edmonton $25,267 (+10.92%)

British Columbia $63,073 (+13.33%)

Vancouver $20,587 (+11.26%)

Yukon $966 (+13.38%)

Source: Statistics Canada

Image courtesy of SevenPoint Interiors

Tags: 2022 cannabis sales (1), Alberta cannabis (54), BC Cannabis (37), Canadian Cannabis (109), Cannabis Industry (183), Cannabis Retail (397), Cannabis Sales (66), December 2022 sales (1), Ontario Cannabis (67), provincial sales by province (13)