Cannabis retail sales in Canada hit $440.7 million in July, up 1.61% from last month, but down 3.87% since last July, according to new Statistics Canada data.
This is the highest monthly sales so far in 2024, yet there is a continued trend of slowing market growth in Canada, with annual sales down 0.8% so far in 2024.
Monthly sales fell in Nova Scotia and BC, but rose in all other provinces, led by PEI at 12.29%. While Alberta and Quebec saw year-over-year sales growth, Ontario and BC faced significant declines. Ontario’s sales dropped by 13.82% and BC’s by 11.91%.
Prairies
Prairie retail sales saw mixed results in July. While most cities and provinces experienced increases compared to the previous month, year-over-year growth varied significantly. Edmonton and Winnipeg led with double-digit annual increases of 11.78% and 12.34%, respectively, while Calgary saw an annual decline of 3.17%.
In July, sales in Alberta were up 1.68% from last month to $82.57 million and up 5.14% from last year.
Ontario
Ontario, Canada’s largest cannabis market, saw a modest increase in July sales (3.84% to $164.35 million). However, the province’s sales remain significantly below last year’s levels, down 13.82%. Nearby cities like Ottawa and Toronto also experienced mixed results, with short-term growth but annual declines of 10.16% and 3.54%, respectively.
Quebec
Quebec and Montreal are leading the way in the Canadian cannabis market. July sales in Quebec were up 2% from last month to $64.84 million — a substantial 18.72% increase year-over-year. The province’s performance is driven by strong growth in its major cities like Montreal, which saw an annual sales jump of 36.83%, outpacing all other reported cities.
However, smaller markets like Gatineau appeared to face challenges, with sales declining 6.35% year-over-year.
British Columbia
BC sales in July were down 2.70% to $62.54 million and down 11.91% year-over-year — the biggest drop in annual sales of any province.
Vancouver sales in July were up 6.91% to $22.51 million but down 1.18% annually.
Maritimes
Retail sales in the Maritimes fluctuated in July. Nova Scotia experienced a decline, with monthly sales down 11.76% to $9.1 million and annual sales down 11.81%. PEI, New Brunswick, and Newfoundland saw growth compared to both June and the previous year, with PEI leading the way at a 12.29% monthly increase.
Provincial Sales (x1,000)
Canada: $440,701 (1.61%)
Newfoundland & Labrador: $7,993 (1.27%)
Prince Edward Island: $2,412 (12.29%)
Nova Scotia: $9,103 (-11.76%)
New Brunswick: $8,611 (5.20%)
Quebec: $64,841 (2.00%)
Montreal: $40,073 (2.00%)
Quebec City: $4,865 (1.99%)
Gatineau: $1,284 (1.99%)
Ontario: $164,346 (3.84%)
Toronto: $58,880 (6.32%)
Ottawa: 17,130 (6.00%)
Manitoba: $18,522 (0.54%)
Winnipeg: $11,241 (-1.36%)
Saskatchewan: $17,203 (1.68%)
Alberta: $82,570 (1.68%)
Calgary: $21,489 (1.68%)
Edmonton: $28,853 (1.68%)
British Columbia: $62,538 (-2.70%)
Vancouver: $22,514 (6.91%)
Yukon: $1,329 (9.38%)
Source: Statistics Canada
Image courtesy of Tonik Cannabis