Canadian cannabis retail sales continue to rebound after dipping in January and February. Sales hit $428.56 million in April 2024, up 5.34% from last month and 2.87% from last year. March sales were revised to $406.85 million.
Prince Edward Island, Alberta, and the Yukon saw minor drops in monthly sales while the rest of the country increased sales, with Quebec seeing the biggest increase of 14.52%. On an annual basis, sales in Ontario, BC, and Saskatchewan have dropped, while Newfoundland has seen the biggest increase of 28.15%.
Prairies
In April, Manitoba saw only a 0.92% month-over-month increase and a 4.37% annual jump, with sales reaching $16.71 million. Winnipeg saw drops in both monthly and annual sales to $9.54 million in April. The province also announced it is putting a temporary moratorium on new licenses in urban areas for what are known as “controlled-access” stores that sell cannabis.
The other western provinces were a mixed bag. Sales in Saskatchewan hit $14.26 million in April, down 5.90% from the same period last year but up 9.10% month-over month.
In Alberta, sales were only down 0.66% from March to $76.21 million, but up 4.97% from last year. Sales in Calgary dropped by 2.25% this month, while sales in Edmonton increased 0.78%. In May, Alberta joined other provinces in allowing private label cannabis sales after years of advocacy from some industry members.
Ontario
Sales in Ontario are steadily climbing back up with a 3.93% month-over-month increase to $160.99 million in April. However, sales have dropped by 5.09% since this period last year and 2024 monthly sales have yet to hit the figures seen in 2023. This drop is likely due to a large number of stores closing their doors in over-saturated markets.
In Toronto, sales were up by 8.87% in April to $53.97 million and in Ottawa sales were up by 11.14% to $17.21 million.
A report released by the Ontario Cannabis Store in May – the first of its kind from the agency since Q4 2022 – showed that cannabis stores in Ontario sold nearly $2 billion worth of cannabis in 2023 to more than 10 million people, a 12% increase in sales from the previous year.
Quebec
Sales in Quebec hit an all-time high of $61.58 million in April 2024, up 14.52% from last month and 26.11% from last year.
Gatineau sales saw a notable 37.76% month-over-month increase to $1.73 million, while monthly sales in Montreal and Quebec City increased by 0.80% and 10.22%, respectively. However, Quebec City sales have increased by close to 60% since the same period last year. Gatineau has seen a 48.63% year-over-year increase.
In June, the Société québécoise du cannabis (SQDC) reported a net income of $104.1 million for its 2023-2024 fiscal year, up 9.7% from last year. Online sales climbed 14.7%, from $34.15 million to $40.02 million, while branch sales rose 9.6%, from $567.76 million to $622.05 million.
British Columbia
Sales in BC were up 8.07% to $67.27 million in April, surpassing November and December figures, but not yet reaching the 2023 highs. Meanwhile, sales in the province’s largest city were down 22.63% year-over-year to $20.02 million in April.
Maritimes
Newfoundland sales hit $7.69 million in April, up 1.51% from last month and up 28.15% from last year.
PEI sales have been up and down over the past year and this month was no exception. Sales dropped by 0.1% to $2.07 million but are up 10.65% from the same period last year.
Sales in Nova Scotia were up 8.57% from last month to $10.89 million in April, a 19.61% increase year-over-year. Recent news reports suggest Nova Scotia’s cannabis market is facing challenges, as the province sees more illicit cannabis stores emerging.
Similarly, sales in New Brunswick were up 8.34% to $8.35 million, a 22.96% increase year-over-year. In June, Cannabis NB opened up three new urban stores to reportedly compete with the illicit market.
Provincial Sales (x1,000)
Canada: $428,555 (5.34%)
Newfoundland & Labrador: $7,688 (1.51%)
Prince Edward Island: $2,067 (-0.10%)
Nova Scotia: $10,894 (8.57%)
New Brunswick: $8,353 (8.34%)
Quebec: $61,583 (14.52%)
Montreal: $29,290 (0.80%)
Quebec City: $7,041 (10.22%)
Gatineau: $1,733 (37.76%)
Ontario: $160,988 (3.93%)
Toronto: $53,970 (8.87%)
Ottawa: $17,213 (11.14%)
Manitoba: $16,709 (0.92%)
Winnipeg: $9,542 (-6.46%)
Saskatchewan: $14,262 (9.10%)
Alberta: $76,207 (-0.66%)
Calgary: $20,776 (-2.25%)
Edmonton: $26,423 (0.78%)
British Columbia: $67,274 (8.07%)
Vancouver: $20,024 (-0.44%)
Yukon: $1,105 (-0.18%)
Source: Statistics Canada
Image courtesy of Canvas Cannabis