Canadian recreational cannabis sales fall for second straight month

Consumer sales of recreational cannabis products in November 2022 fell in almost every Canadian province and major city, according to newly released data by Statistics Canada.

Overall, the country saw a 4.3% monthly decline in adult-use sales to 373.3 million Canadian dollars ($277 million) in November, marking the second straight monthly decline.

Ontarians bought CA$147.2 million worth of recreational cannabis products in November, 4.2% less than in October.

On a dollar basis, Ontario led all provinces with CA$6.5 million less in recreational marijuana sales in November compared to the previous month.

In Alberta, sales fell 6% to CA$66.4 million in November. That marks a CA$4.2 million sales decline from October.

British Columbia’s November sales of CA$55.8 million were 6%, or CA$2.5 million, lower compared to October.

According to at least one analyst, sales of adult-use cannabis in Canada are slowing more quickly than expected.

And, in some provinces, the respective sales figure for November represents a significant decline from previous all-time highs.

For instance, Quebec’s sales in November 2022 were CA$48.5 million, or 12.8% off the province’s best-ever sales month in December 2021.

British Columbia’s sales in November 2022 were CA$55.8 million, or 9.4% off the province’s record month in September 2022.

Ontario’s and Alberta’s sales in November were 6.5% and 5.9% lower than their respective all-time highs.

In the remaining provinces, November sales totals and month-over-month changes were:

• Manitoba: CA$15.5 million (-3.7%).
• Saskatchewan: CA$15.4 million (-4.4%).
• Nova Scotia: CA$8.6 million (-6.2%).
• New Brunswick: CA$6.7 million (-4%).
• Newfoundland and Labrador: CA$5.6 million (no change).
• Prince Edward Island: CA$1.7 million (-3.6%).

Yukon sales fell 10.4% in November to CA$854,000.

No data was released for Nunavut and Northwest Territories.

Toronto continued to lead Canadian cities in sales.

Sales in Ontario’s capital city amounted to CA$47.1 million in November, or 4.2% lower than in October.

November cannabis retail sales in selected Canadian cities and monthly sales changes were:

• Montreal, Quebec: CA$26.6 million (-2.3%).
• Edmonton, Alberta: CA$22.8 million (-3.9%).
• Calgary, Alberta: CA$18.7 million (-6.5%).
• Vancouver, British Columbia: CA$18.5 million (-2.6%).
• Ottawa, Ontario: CA$14.7 million (-4.2%).
• Winnipeg, Manitoba: CA$9.8 million (-4.1%).
• Quebec City: CA$4.5 million (-1.4%).
• Gatineau, Quebec: CA$1.3 million (-10%).

Statistics Canada’s November cannabis retail sales data is available here.

Source: https://mjbizdaily.com/canadian-recreational-cannabis-sales-fall-for-second-straight-month/