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Canadian cannabis sales reach all-time high in April

Jun 23, 2022 | Media Partners, The GrowthOp

This post is presented by our media partner The Growth Op
View the original article here.

Retail sales top more than $372 million countrywide.

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Canadian retail cannabis sales set a new monthly record sales record in April, reaching $372.4 million.

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Released by Statistics Canada, the latest figures mark a near four per cent increase from March, when sales were $359 million, and about a 15 per cent increase from February, when sales dipped to $324 million, according to revised numbers from the federal agency.

  1. The general strike began on May 20. /

    More than 300 cannabis retail workers in Quebec go on strike

  2. The March tally for retail cannabis sales represents a significant jump from a month earlier. /

    Canadian retail cannabis sales climb to monthly all-time high of $358.8M

  3. According to the latest figures from Statistics Canada, nearly every province, other than Ontario and Saskatchewan, saw a modest reduction in sales.

    Retail cannabis sales in Canada dip slightly to $336 million

Ontario, now home to more than 1,500 dispensaries, led the country with more than $150 million in sales. Alberta posted just under $65 million in sales, while B.C. recorded slightly less than $53 million to round out the top three.

B.C. and P.E.I. were the only provinces to post a month-over-month decrease, with sales dipping from $56 million in B.C. in March.

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P.E.I., meanwhile, saw a slight reduction, recording $1.75 million in sales in April, down from $1.76 million in March.

Quebec posted just over $50 million in sales. The figures will likely look different next month, as more than 300 union members of the Société québécoise du cannabis (SQDC) began a general strike in May.

Union members are calling for salaries and benefits similar to those working in other comparable provincial corporations, including the Quebec Liquor Corp. (SAQ).

“These SQDC workers barely earn $17/hour upon hiring and the majority have no full-time position or job security, which puts them in an untenable precarious position,” the Canadian Union of Public Employees noted in a statement last month.

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A recent report from Connecticut-based data firm Cannabis Benchmarks found that Quebec, where the government-owned SQDC has a monopoly on recreational sales, is the country’s “biggest laggard” when it comes to cannabis retail.

As of April, there were 88 SQDC retail cannabis stores operating in the province. The report found that the “optimal” number of retail stores is more than 1,100.

The report also noted that Ontario could support nearly 500 more stores to reach its “optimal level.”

Alberta, meanwhile, was the only province cited in the report to have more cannabis stores than needed.

“We expect the number of stores in Alberta to decline over the next 24 months, as competition intensifies and store economics become less favourable,” the report stated.

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