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%.
July sales in Alberta were up 1.68% from last month to $82.57 million and up 5.14% from last year. July sales in Manitoba were up 0.54% from last month to $18.52 million and 11.06% from last year.
In Edmonton, City Councillor Michael Janz is working to make Edmonton the “Cannabis Industry Capital of the World,” but says the policy changes needed to make this happen – including allowing places like cannabis cafes and lounges to operate – aren’t being considered.
Elsewhere in Manitoba, residents may be able to grow cannabis at home beginning in 2025, according to a new announcement from the provincial government. Government is reportedly in the process of drafting the regulations for a bill passed in June that would allow legal recreational cannabis growing.
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.
The SQDC recently released its first quarter results for its 2024-2025 fiscal year which ended June 22, 2024, reporting comprehensive income of $23.9 million, compared with $20.6 million for the same quarter last fiscal year.
$162.9 million worth of cannabis was sold during the first quarter, compared to $142.6 million for the same quarter last 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.
The deadline for cannabis store applications in Surrey recently passed on September 17. In early 2024, Surrey City Council released a proposal for up to 12 cannabis stores in BC’s second-largest city after prohibiting stores for many years.
On a province-wide level, cannabis sales increased in BC by 27% in 2023-2024, according to a recent BCLDB report. The provincial agency brought in $3.9 billion in revenue, a 1.7% increase from last year. Lower liquor revenue was somewhat offset by growth in cannabis sales. Cannabis revenue was $574.5 million, up 18.3% from the previous year.
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.
Meanwhile, sales in New Brunswick increased by 5.20% from last month to $8.61 million and sales in Newfoundland increased by 1.27% to $7.99 million.
New Brunswick is currently seeking applications for a new private cannabis store in Dalhousie. A new cannabis farmgate location opened in Drummond.
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