Canadian Cannabis Sales in April 2022 – Cannabis News, Lifestyle

Statistics Canada released cannabis sales figures for April 2022. Canadian cannabis sales rose 3.7% month-on-month to CA$372.4 million.

Compared to April 2021, sales increased by 25.8%.

Canadian Cannabis Sales: Details

Statistics Canada cites a rising number of retail stores and falling flower prices for the rebound. We can break down Canadian cannabis sales data by province.

Ontario, the most populous province, grew sales by 4% month-on-month and by 53% compared to April 2021.

Alberta, the second largest province, was up 2% from March and 10% year over year.

Despite its restrictive retail model (and striking workers), Quebec is up 18% from March. But as it should be, sales grew just 3% as of 2021.

Interestingly, British Columbia is down 6% since March and up just 21% since April 2021. Reasons for this could be the increase in gray market transactions in Indian Reserves. As is the popularity and customer loyalty to BC Bud, only a handful of which hold federal licenses. The rest of them remain underground four years after legalization.

Comparison of Alberta and Ontario

Ontario and Alberta research provides insight into Canadian cannabis sales.

Ontario began legalization with higher sales than Alberta, with the two provinces tied at the end of 2019. Since the summer of 2020, however, Ontario cannabis sales have grown almost exponentially.

This increase in sales corresponds to the decline in cannabis prices. Over the past year, the average unit price has fallen by 13.2%, while the number of units sold continues to trend upwards. As of April 2022, the market has generated total sales of $165 million. And as overall sales go up, cannabis product prices go down.

Potential problems with Canadian cannabis sales

Canadian cannabis sales may be on an upward trend, but competition is impacting each store’s revenue. As Ontario has shown, average sales per store in 2020 fell from $100,000 in average weekly sales to $20,000 in 2022. So while Canadian cannabis sales in Ontario remain strong, average revenue for individual retailers has declined.

The average retailer recorded negative growth of -3.7% in April 2021 compared to April 2020. Looking at Canadian cannabis sales in April 2022, average Ontario retail store sales are now down -14%.

Toronto cannabis stores consolidate

In response, cannabis retail stores are now consolidating. A consolidation can be seen in Toronto, where cannabis stores have doubled since 2021 and about 300 were operational as of April 2022.

Superette bought Canoe for $5 million and acquired Dimes Cannabis.

Dutch Love has closed its doors. A spokesman said the company, which is owned by the Donnelly Group, no longer sees the Toronto market as viable due to the saturation of cannabis stores.

It’s a buyer’s market for Canadian cannabis sales.