After showing signs of slowing down, Canada’s retail cannabis sales shot up to their highest level so far in December 2024, at just under half a billion dollars in one month.
Cannabis sales in December ($499.7 million) surpassed the previous high of $475.5 million in August 2024, and even exceeded the previous high of $469 million in August 2023.
All of these figures are non-seasonally adjusted; seasonally adjusted sales numbers are somewhat lower. Statistics Canada also adjusts its numbers over time, depending on data quality. The most recent sales figures are rated as “C: good”, the lowest of three ratings for data quality.
Unsurprisingly, retail sales were highest in Ontario, Canada’s most populated province, followed by Alberta, British Columbia, and Quebec.
Overall retail sales saw steep declines in early 2024, largely driven by declines in Ontario’s reported sales figures. While declines in sales after the holiday shopping season are expected, other provinces did not show a similar decline. If past sales history is repeated, expect significant declines in sales in January and February 2025.
POUR CONTINUER À LIRE: StratCann
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