Canadian cannabis retail sales set record in July
Retail cannabis sales in Canada continue to rise, with sales in July approaching $340 million, a new record.
The latest numbers from Statistics Canada show that sales have continued to climb, month over month, since March.
Ontario led the country in sales and saw more than a five per cent increase from the previous month, and a 110 per cent increase year over year. The province accounted for just under $127 million worth of sales in July.
In late August, Canada’s most populous province opened its 1,000th store, exactly 880 days after the first retail shops opened.
Alberta saw more than $60 million in sales for July, with Quebec ($52.1 million) and B.C. ($48.5 million) rounding out the top four.
B.C. was also home to the largest sequential month-over-month increase, with sales rising more than nine per cent from June’s $44.3 million in sales.
The latest figures do not include sales data for P.E.I., Yukon, N.W.T. or Nunavut.
Released last month, the latest quarterly report from the Nova Scotia Liquor Corporation noted a 42.7 per cent increase in cannabis sales in the latest quarter, running Apr. 1 to July 4, 2021.
More cannabis stores, longer hours, lower prices and an increase in products from local suppliers are all believed to have contributed to the boost in sales, which amounted to nearly $25 million.
In July, the Ontario Cannabis Store (OCS) published a report highlighting that nearly 100 million grams of legal weed was sold in Ontario in the 2020-2021 fiscal year, representing a 182 per cent year-over-year increase.
“If we stay on the right course, this new legal cannabis industry will most certainly establish itself as an important engine that helps drive Ontario toward economic recovery in the months and years ahead,” David Lobo, interim president and CEO of the OCS, noted in the report.
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