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January Cannabis Retail Sales Drop 11.5%

Canadian cannabis sales hit $400.07 million in January, down 11.45% from December’s high of $451.82 million, according to new Statistics Canada data. Cannabis sales typically drop post-holiday season. Sales climbed up in December after being on a steady decline since August 2023.

December’s sales figures were also revised to $451.82 million, up from the previously reported $441.23 million. This increases Canada’s full year 2023 recreational cannabis sales to $5.08 billion (previously $5.07 billion).

January sales were up only 1.17% year-over-year. Every province and territory saw a drop in month-over-month sales in January, with the Yukon and Ontario seeing the biggest changes.

Prairies

January sales month-over-month in Alberta dropped by 10.08% to $73.79 million after record sales in December. Similar drops were seen in Calgary and Edmonton. Alberta sales have increased 6.77% since January 2023.

Alberta Gaming, Liquor and Cannabis released its 2022-2023 annual report and posted its first year of profits, bringing in over $18 million from $600 million in sales after operating costs and expenses. The province also brought in $164 million in cannabis tax.

Sales in Manitoba dropped by 6.57% from December 2023 to $17.45 million while sales in Winnipeg were down 8.05% to $10.60 million. Winnipeg sales have decreased by 2.53% since January 2023, yet provincial sales have increased 1.80%.

January sales month-over-month in Saskatchewan dropped 2.85% to $16.13 million. It is also one of the few provinces to see a significant decrease in year-over-year sales being down 15.61% from January 2023.

Changes to public consumption rules could be coming to Manitoba. According to reports by CBC, the Liquor Gaming and Cannabis Authority of Manitoba planned to review the provincial ban on smoking, vaping, and otherwise consuming cannabis in public early this year, but the analysis has been paused, pending direction from the NDP government. BC recently announced changes to its rules, allowing cannabis consumption in certain patio spaces.

Ontario

Next to the Yukon, Ontario saw the biggest drop in monthly sales in January, down 14.76% from December to $156.81 million. Similar changes were seen in Toronto and Ottawa. Both the cities and the provincial sales have increased 1.19% since January 2023.

The Ontario Chamber of Commerce recently called on the province to modernize the Ontario cannabis market as part of its 2024 provincial budget submission. Their recommendations include tackling the illicit market by pursuing lost tax revenue from underground markets and establishing tougher penalties for non-compliance.

Quebec

January sales in Quebec were down 10% from December to $48.82 million. Comparable decreases were seen in Montreal, Quebec City, and Gatineau.

Montreal saw a whopping 40.63% increase in sales since January 2023, the largest of any reported province or city. Year-over-year sales dropped by 1.42% and 15.04% in Quebec and Gatineau, respectively, while sales increased by 18.06% in Quebec City since January 2023.

British Columbia

January sales on the West Coast were also down. Sales dropped by 9.83% in BC from December 2023, while sales were down 7.86% in Vancouver. Both have seen drops in year-over-year sales at 4.10% and 3.20%, respectively.

Maritimes

The Maritimes provinces had some of the strongest increases in year-over-year sales, but monthly sales were down across the board.

January sales month-over-month dropped 5.34% in Newfoundland, 6.01% in PEI, 9.59% in Nova Scotia, and 11.72% in New Brunswick. However, sales in Newfoundland have increased 22.87% since January 2023, the second highest of any reported province or city. Similarly, sales in PEI have increased 19.48% since the same period last year.

Nova Scotia Liquor Corporation released its annual report for 2022-2023. The province sold more than $111 million of cannabis during the fiscal year ending March 31, 2023, a 9.3% increase in sales from the previous year and a 7.3% increase in the volume of cannabis sold by weight. There was a 41.8% increase in products sold from cannabis producers located in Nova Scotia.

Provincial Sales (x1,000)

Canada $400,071 (-11.45%)

Newfoundland & Labrador $7,462 (-5.34%)

Prince Edward Island $2,079 (-6.01%)

Nova Scotia $9,940 (-9.59%)

New Brunswick $7,410 (-11.72%)

Quebec $48,819 (-10.00%)

Montreal $29,205 (-10.00%)

Quebec City $3,897 (-10.00%)

Gatineau $1,045 (-9.99%)

Ontario $156,805 (-14.75%)

Toronto $50,186 (-14.76%)

Ottawa $15,679 (-14.76%)

Manitoba $17,449 (-6.57%)

Winnipeg $10,600 (-8.05%)

Saskatchewan $16,130 (-2.85%)

Alberta $73,785 (-10.08%)

Calgary $20,238 (-10.61%)

Edmonton $25,013 (-11.00%)

British Columbia $25,013 (-11.00%)

Vancouver $19,255 (-7.86%)

Yukon $973 (-15.54%)

Tags: 2024 cannabis sales (4), Alberta cannabis (57), BC Cannabis (40), Canadian Cannabis (113), Cannabis Industry (186), Cannabis Retail (401), Cannabis Sales (69), January 2024 sales (1), Ontario Cannabis (70), provincial sales (5)