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The Nova Scotia Liquor Corporation (NSLC) has reported steady growth in its second-quarter sales for 2024, marking the second consecutive quarter of increased revenue.
Covering the period from July 1 to September 29, the NSLC achieved total sales of $245.8 million, a 1.5% increase compared to the same quarter in 2023. The report highlights a rise in both alcohol and cannabis sales, reflecting evolving consumer demand.
Cannabis Sales Outpace Alcohol in Growth
Beverage alcohol sales, the largest contributor to the NSLC’s revenue, rose by 1.2%, reaching $213.2 million. Cannabis sales experienced a 3.9% increase, totaling $32.6 million for the quarter. This growth reflects a continued upward trend in the legal cannabis market, which is steadily becoming more mainstream in Nova Scotia.
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Although the report did not detail the reasons for growth, contributing factors could include an increased acceptance of cannabis products, seasonal consumer demand, and expanding product availability.
Increased Access
In recent years, the NSLC has significantly increased the accessibility of cannabis products by expanding its retail network. Since legalization in 2018, the number of retail outlets offering cannabis has grown from 12 initial locations to 48 stores as of 2024. This expansion is also likely a factor for the sales increase.
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