Retail cannabis sales in Canada hit $448.61 million in October, up 2.41% from last month and up 14.98% from the same period last year. This is a slight turnaround from September where sales dropped 6.2% on a month-over-month basis.
With the exception of a few months, cannabis sales have steadily increased throughout 2023. $4.23 billion in cannabis has been sold in Canada from January to October this year, up 26% from the same period in 2022.
In October, every province with the exception of New Brunswick and the Yukon saw an increase in sales, with Manitoba and Saskatchewan seeing the largest growth at 9% each. Ontario continues to lead the country with $177.73 million in sales, up 1.29% from September.
Prairies
October sales were up 9.0% in Manitoba and 9.01% in Winnipeg to $18.76 million and $11.49 million, respectively. Both places have also seen year-over-year growth with sales up $16.98% in Manitoba and up 12.02% in Winnipeg from October 2022.
Saskatchewan saw a similar month-over-month increase with sales up 9.01% in October to $17.73 million but had an annual increase of 9.85% compared to October 2022.
Alberta saw a negligible increase in sales this month, up 0.03% to $76.48 million, while sales in Calgary were up 1.12% to $21.38 million. Both places saw year-over-year growth, with sales up 8.31% in Alberta and up 7.15% in Calgary from October 2022.
Alberta Gaming, Liquor, and Cannabis recently announced policy changes that will take effect in January 2024, meant to reduce red tape and give retailers more time to focus on their businesses. These include allowing retailers to operate temporary sales locations at adult-only events and removing restrictions on sales and transfers between cannabis retailers.
Ontario
Ontario also saw a minimal increase in sales in October, up 1.29% from September to $177.23 million. Sales in Toronto and Ottawa were up 1.30% and 1.29%, respectively. While Ottawa only saw 4.08% year-over-year growth in sales, Ontario and Toronto saw more notable increases at 15.64% and 19.25%, respectively.
The legal cannabis market in Ontario is close to surpassing $2 billion in annual sales according to recent data shared by the Ontario Cannabis Store (OCS). The OCS also ended the 2022-2023 fiscal year with $535.69 million in cash leading some to question why the country’s most lucrative provincial cannabis agency only just started paying dividends to the provincial government.
Quebec
October sales in Quebec were up 7.72% in the province as well as the cities of Montreal and Quebec City, while sales in Gatineau were up 7.79%. Provincial sales hit $57.46 million in October, up 15.47% from the same period last year.
Gatineau is the only Canadian city to see a drop in year-over-year sales, down 8.81% from October 2022 to October 2023.
British Columbia
Like Ontario and Alberta, BC only saw a 0.82% increase in monthly sales, hitting $70.94 million in October, while sales in Vancouver were up 1.50% to $23.13 million.
Second to Newfoundland, BC saw the biggest increase in year-over-year sales, up 21.67% from the same period last year.
Maritimes
While New Brunswick was one of only two provinces to see a drop in monthly sales, all the other Maritime provinces sales were up in October.
Newfoundland sales increased 1.24% to $7.34 million, PEI sales rose 3.03% to $2.14 million, and Nova Scotia sales increased 4.28% to $10.18 million. New Brunswick sales dropped 2.70% to $7.52 million.
Newfoundland had the largest increase in year-over-year sales in the country, up 30.56% from October 2022, data that was also recently shared in Newfoundland and Labrador Liquor Corporation’s second quarter performance of fiscal year 2024.
NLC President and CEO says the organization is ‘cautiously optimistic’ about cannabis sales with sluggish market conditions and the impact inflation and interest rates are having on consumer disposable income.
Provincial Sales (x1,000)
Canada: $448,608 (2.41%)
Newfoundland: $7,340 (1.24%)
Prince Edward Island: $2,142 (3.03%)
Nova Scotia: $10,175 (3.28%)
New Brunswick: $7.523 (-2.70%)
Quebec: $57,459 (7.72%)
Montreal: $30,992 (7.72%)
Quebec City: $5,095 (7.72%)
Gatineau: $1,356 (7.79%)
Ontario: $177,725 (1.29%)
Toronto: $58,660 (1.30%)
Ottawa: $15,994 (1.29%)
Manitoba: $18,763 (9.00%)
Winnipeg: $11,494 (9.01%)
Saskatchewan: $17,729 (9.01%)
Alberta: $76,481 (0.03%)
Calgary: $21,381 (1.12%)
Edmonton: $25,710 (0.82%)
British Columbia: $70,994 (0.82%)
Vancouver: $23,130 (1.50%)
Yukon: $1,125 (-4.09%)
Source: Statistics Canada
Photo of Friendly Stranger courtesy of SevenPoint Interiors.