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Tuesday, Dec 7, 2021
Mugglehead Magazine
Cannabis & psychedelics industry news based in Vancouver, B.C.
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Industry update

Canadian cannabis sales dip to $261M in November

November adult-use sales dropped 3.2%, the furthest slide since September 2019

Canadian cannabis sales dip to $261 million in November
Canadian cannabis sales dip to $261 million in November

As coronavirus cases climbed in November, Canadian cannabis sales fell 3.2 per cent to $261 million, compared to October sales of $270 million.

On Friday, Statistics Canada reported its latest monthly retail trade data, which showed Ontario leading the nation for the sixth straight month with recreational sales of $82.9 million.

Even as Canada’s biggest weed market continued to increase its store count in November, Ontario’s Toronto and Peel regions issued new lockdown restrictions. Sales dropped 1.1 per cent as stores in the areas were forced to close and pivot to online delivery and curbside pick up.

Total Canadian adult-use sales have reached $2.3 billion from January to November, on pace to reach just below $2.6 billion in 2020.

Read more: Delivery allowed for Toronto and Peel region cannabis stores

Read more: Canadian cannabis sales climb to $270M in October

It’s only the second time sales have decreased month-over-month in 2020. November sales slid the furthest since September 2019, when revenues dipped 2.4 per cent.

Saskatchewan was the only province to record an increase in sales, ticking up 1 per cent to $13.9 million.

Quebec recorded the largest sales decline in the country at 6.5 per cent.

The province’s government-run retail monopoly sold $44.9 million worth of product in November, compared to $48 million in October.

In British Columbia, sales fell 2.5 per cent to $36.8 million.

Alberta, which has issued the most store licences at 555, saw sales decline 4.6 per cent to $54 million.

Manitoba recorded $9.6 million in sales, down 2 per cent.

On the East Coast, Nova Scotian sales were down 5.7 per cent to $6.9 million. And New Brunswick recorded a 1.8 per cent drop with sales of $6.1 million.

Medical cannabis sales dropped 6.8 per cent to $146 million in the third quarter of 2020, according to recent household spending data.

Total Canadian retail sales rose at their fastest pace since September, up 1.3 per cent to $55.2 billion in November. It was the seventh consecutive monthly gain. The increase was led by higher sales at food and beverage stores, along with an uptick in e-commerce sales.

Top image of City Cannabis store in Vancouver, B.C., by Jared Gnam

 

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