Cannabis Sales Hit Record High In Canada: $268M In July Alone

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The year 2020 saw triple-digit growth in Canada’s legal cannabis market, which was largely driven by:

  • Increased brick-and-mortar retail access – especially in Ontario, British Columbia and Quebec;
  • An expansion in e-commerce and click-and-collect offerings;
  • Pricing that was more competitive with the illicit market;
  • Retailers adapting to a pandemic context and the rise of value brands.

"Canada’s nationwide legalization efforts initially started off slow, but growing retail distribution and expanding derivative product offerings are helping businesses capture market share from illicit sales," wrote Andrew Little in a recent Global X report. (As Originally Seen on Benzinga)

In April 2021, Canadian cannabis sales hit CA$309.7 million ($251.7 million), representing a 3.8% increase compared to March and a 73.6% year-over-year spike, according to data from Statistics Canada.

While in July, Canadian legal marijuana sales increased 6.2% month-to-month to a record CA $338.9.

Monthly sales from licensed adult-use dispensaries rose in all Canadian provinces,  

  • Ontario: CA$126.7 million (+5.5%). 
  • Alberta: CA$60.7 million (+4.9%).
  • Quebec: CA$52.1 million (+5.9%).
  • British Columbia: CA$48.5 million (+9.4%).
  • Saskatchewan: CA$13.2 million (+1.9%).
  • Manitoba: CA$12.8 million (+7.4%).
  • Nova Scotia: CA$8.8 million (+6.9%).
  • New Brunswick: CA$7.3 million (+11.2%).
  • Newfoundland: CA$5.3 million (+8.5%).
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